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Where is our economy heading? Have we lost something valuable in the human quest for efficiency and perpetual growth? What human qualities are being eroded as we rely on the modern market mechanism to coordinate our daily lives? This book poses a theological challenge to contemporary economic life through a re-discovery of the historical roots of the theological covenant in society. The author places the covenant in contrast with the contract, exploring the distinction between the two concepts, their significance and their interaction in the economic market. The result is a new proposal - the 'Two Pillars' paradigm - that challenges the fundamentals of modern economics and promotes the idea of a balanced market which allows for genuine human relationships, freedom and economic justice. The author illustrates the practical use of the paradigm through the example of long-term employment arrangements, and applies it as a basis for dialogue with scholars ranging from Adam Smith to modern-day economists.
List of contents
Contents: The Covenant Concept in Response to Society and the Economic Order - The Covenantal Federalism of Johannes Althusius - Universality, Content and Relevance of the Covenant - The Two Pillars Paradigm: A Dialogical Framework - Covenant and Contract: A Two Pillars Paradigm for the Market - Illustration of the Two Pillars Paradigm in Long-Term Employment Arrangements - Theology and Economics in Dialogue.
About the author
Jean Lee is Assistant Professor at the China Graduate School of Theology, Hong Kong. She obtained her PhD in Theology from the University of Edinburgh. She also holds a Chartered Accountant designation from the Canadian Institute of Chartered Accountants, and formerly worked at Ernst & Young, an international accounting firm.
Report
«In this engaging study, Jean Lee explores important but neglected connections between theology and economics. In particular, her contrasting of concepts of covenant and contract suggests significant ways in which theological discourse can provide an ethical and social context for understanding and assessing patterns of economic activity. Her work deserves the attention of all working in this field.» (David Fergusson, Professor of Divinity and Principal of New College, University of Edinburgh)
«This book represents a lucid illustration of the benefits of truly interdisciplinary research and is one of the best theological treatises to provide an ethical and social context for assessing modern market systems. The work of Jean Lee deserves the attention of both mainstream economists and theologians interested in a dialogue with them.» (Karl Farmer, Journal of Markets & Morality 15, 2012/1)
