Capitalism is founded on greed, competition, individualism and hedonism. Islam builds societies on foundations of generosity, cooperation, social responsibility, and the struggle for success in the Akhira. Obviously the two are radically different. This talk spells out some of the details of how these differences arose, and what they imply for economics
Analysis of current crisis of capitalism due to promotion of greed. Explain the reasons why greed was promoted in the West, and explains how the outcomes were not in line with expectations. Suggests how East can try to avoid falling into the same trap; For slides with embedded audio, see:
http://asadzaman.net/online-lecture/economics/capitalism-in-crisis/
Journal of the American Academy of Religion 652 AAR T.docxpriestmanmable
Journal of the American Academy of Religion 65/2
AAR
The Religion of the Market
David R. Loy
RELIGION IS NOTORIOUSLY DIFFICULT to define. If, however, we
adopt a functionalist view and understand religion as what grounds us by
teaching us what the world is, and what our r6le in the world is, then it
becomes obvious that traditional religions are fulfilling this role less and
less, because that function is being supplanted-or overwhelmed-by
other belief-systems and value-systems. Today the most powerful alterna-
tive explanation of the world is science, and the most attractive value-
system has become consumerism. Their academic offspring is economics,
probably the most influential of the "social sciences." In response, this
paper will argue that our present economic system should also be under-
stood as our religion, because it has come to fulfill a religious function for
us. The discipline of economics is less a science than the theology of that
religion, and its god, the Market, has become a vicious circle of ever-
increasing production and consumption by pretending to offer a secular
salvation. The collapse of communism-best understood as a capitalist
"heresy"-makes it more apparent that the Market is becoming the first
truly world religion, binding all corners of the globe more and more
tightly into a worldview and set of values whose religious role we over-
look only because we insist on seeing them as "secular."
So it is no coincidence that our time of ecological catastrophe also
happens to be a time of extraordinary challenge to more traditional
religions. Although it may offend our vanity, it is somewhat ludicrous to
think of conventional religious institutions as we know them today serving
David R. Loy is Professor in the Faculty of International Studies, Bunkyo University, Chigasaki 253,
Japan (email: [email protected]).
275
276 Journal of the American Academy of Religion
a significant role in solving the environmental crisis. Their more immedi-
ate problem is whether they, like the rain forests we anxiously monitor, will
survive in any recognizable form the onslaught of this new religion.
The major religions are not yet moribund, but when they are not already
in bed with the economic and political powers that be, they tend to be
so preoccupied with past problems and outmoded perspectives (e.g.,
pronatalism) that they are increasingly irrelevant (e.g., fundamentalism)
or trivialized (e.g., television evangelism). The result is that up to now they
have been unable to offer what is most needed, a meaningful challenge to
the aggressive proselytizing of market capitalism, which has already
become the most successful religion of all time, winning more converts
more quickly than any previous belief system or value-system in human
history.
The situation of religions today is becoming so critical that the envi-
ronmental crisis may actually turn out to be a positive thing for religion. ...
True corporate responsibility is much more than just a buzzword or "actions", and is to be seen in its complexity. Nowadays it is almost trendy to criticize the near hegemonic capitalist economic system, but the perceptions differ pretty well about what comes next or what should come next. The "neoliberal" capitalist model and the non-profit or altruistic model are very far from each other, and - for a long time - it seemed that the gap between the two worlds could not be bridged.
However, in recent years the leaders of both worlds (for-profit and non-profit) have recognized that a holistic approach is needed and the only a shift from the for-profit (that is, for shareholders) to the concept of for-benefit (that is, for all concerned) can be the basis of long-term sustainability.
Mr. Tibor Héjj's presentation on social ventures explores the main characteristics and potential of the so called "social entrepreneurship" (that is, "doing business for others") and the "for-benefit" conception, two concepts that enables capitalism to get to a higher level while both economy and society benefit from this process. Mr. Héjj also describes the foundation and operation of a for-benefit company, "Sunflower", that strives for offering sustainable jobs and integrated employment rehabilitation for the disabled.
GLOBALIZATION and The Globalization Paradox: Why Global Markets, States, and ...tesfa7
is the process of interaction and integration among people, companies, and governments worldwide (en.m.Wikipedia.org). The authors of the articles discussed that;
Impacts of Globalization on developing and developed countries
Faire economic distribution and employment opportunities
National government demands to frame their policy aligned with international environmental laws and regulations
Capitalism is founded on greed, competition, individualism and hedonism. Islam builds societies on foundations of generosity, cooperation, social responsibility, and the struggle for success in the Akhira. Obviously the two are radically different. This talk spells out some of the details of how these differences arose, and what they imply for economics
Analysis of current crisis of capitalism due to promotion of greed. Explain the reasons why greed was promoted in the West, and explains how the outcomes were not in line with expectations. Suggests how East can try to avoid falling into the same trap; For slides with embedded audio, see:
http://asadzaman.net/online-lecture/economics/capitalism-in-crisis/
Journal of the American Academy of Religion 652 AAR T.docxpriestmanmable
Journal of the American Academy of Religion 65/2
AAR
The Religion of the Market
David R. Loy
RELIGION IS NOTORIOUSLY DIFFICULT to define. If, however, we
adopt a functionalist view and understand religion as what grounds us by
teaching us what the world is, and what our r6le in the world is, then it
becomes obvious that traditional religions are fulfilling this role less and
less, because that function is being supplanted-or overwhelmed-by
other belief-systems and value-systems. Today the most powerful alterna-
tive explanation of the world is science, and the most attractive value-
system has become consumerism. Their academic offspring is economics,
probably the most influential of the "social sciences." In response, this
paper will argue that our present economic system should also be under-
stood as our religion, because it has come to fulfill a religious function for
us. The discipline of economics is less a science than the theology of that
religion, and its god, the Market, has become a vicious circle of ever-
increasing production and consumption by pretending to offer a secular
salvation. The collapse of communism-best understood as a capitalist
"heresy"-makes it more apparent that the Market is becoming the first
truly world religion, binding all corners of the globe more and more
tightly into a worldview and set of values whose religious role we over-
look only because we insist on seeing them as "secular."
So it is no coincidence that our time of ecological catastrophe also
happens to be a time of extraordinary challenge to more traditional
religions. Although it may offend our vanity, it is somewhat ludicrous to
think of conventional religious institutions as we know them today serving
David R. Loy is Professor in the Faculty of International Studies, Bunkyo University, Chigasaki 253,
Japan (email: [email protected]).
275
276 Journal of the American Academy of Religion
a significant role in solving the environmental crisis. Their more immedi-
ate problem is whether they, like the rain forests we anxiously monitor, will
survive in any recognizable form the onslaught of this new religion.
The major religions are not yet moribund, but when they are not already
in bed with the economic and political powers that be, they tend to be
so preoccupied with past problems and outmoded perspectives (e.g.,
pronatalism) that they are increasingly irrelevant (e.g., fundamentalism)
or trivialized (e.g., television evangelism). The result is that up to now they
have been unable to offer what is most needed, a meaningful challenge to
the aggressive proselytizing of market capitalism, which has already
become the most successful religion of all time, winning more converts
more quickly than any previous belief system or value-system in human
history.
The situation of religions today is becoming so critical that the envi-
ronmental crisis may actually turn out to be a positive thing for religion. ...
True corporate responsibility is much more than just a buzzword or "actions", and is to be seen in its complexity. Nowadays it is almost trendy to criticize the near hegemonic capitalist economic system, but the perceptions differ pretty well about what comes next or what should come next. The "neoliberal" capitalist model and the non-profit or altruistic model are very far from each other, and - for a long time - it seemed that the gap between the two worlds could not be bridged.
However, in recent years the leaders of both worlds (for-profit and non-profit) have recognized that a holistic approach is needed and the only a shift from the for-profit (that is, for shareholders) to the concept of for-benefit (that is, for all concerned) can be the basis of long-term sustainability.
Mr. Tibor Héjj's presentation on social ventures explores the main characteristics and potential of the so called "social entrepreneurship" (that is, "doing business for others") and the "for-benefit" conception, two concepts that enables capitalism to get to a higher level while both economy and society benefit from this process. Mr. Héjj also describes the foundation and operation of a for-benefit company, "Sunflower", that strives for offering sustainable jobs and integrated employment rehabilitation for the disabled.
GLOBALIZATION and The Globalization Paradox: Why Global Markets, States, and ...tesfa7
is the process of interaction and integration among people, companies, and governments worldwide (en.m.Wikipedia.org). The authors of the articles discussed that;
Impacts of Globalization on developing and developed countries
Faire economic distribution and employment opportunities
National government demands to frame their policy aligned with international environmental laws and regulations
Lesson 9 - Resisting Temptation Along the Way.pptxCelso Napoleon
Lesson 9 - Resisting Temptation Along the Way
SBs – Sunday Bible School
Adult Bible Lessons 2nd quarter 2024 CPAD
MAGAZINE: THE CAREER THAT IS PROPOSED TO US: The Path of Salvation, Holiness and Perseverance to Reach Heaven
Commentator: Pastor Osiel Gomes
Presentation: Missionary Celso Napoleon
Renewed in Grace
The PBHP DYC ~ Reflections on The Dhamma (English).pptxOH TEIK BIN
A PowerPoint Presentation based on the Dhamma Reflections for the PBHP DYC for the years 1993 – 2012. To motivate and inspire DYC members to keep on practicing the Dhamma and to do the meritorious deed of Dhammaduta work.
The texts are in English.
For the Video with audio narration, comments and texts in English, please check out the Link:
https://www.youtube.com/watch?v=zF2g_43NEa0
In Jude 17-23 Jude shifts from piling up examples of false teachers from the Old Testament to a series of practical exhortations that flow from apostolic instruction. He preserves for us what may well have been part of the apostolic catechism for the first generation of Christ-followers. In these instructions Jude exhorts the believer to deal with 3 different groups of people: scoffers who are "devoid of the Spirit", believers who have come under the influence of scoffers and believers who are so entrenched in false teaching that they need rescue and pose some real spiritual risk for the rescuer. In all of this Jude emphasizes Jesus' call to rescue straying sheep, leaving the 99 safely behind and pursuing the 1.
What Should be the Christian View of Anime?Joe Muraguri
We will learn what Anime is and see what a Christian should consider before watching anime movies? We will also learn a little bit of Shintoism religion and hentai (the craze of internet pornography today).
Homily: The Solemnity of the Most Holy Trinity Sunday 2024.docxJames Knipper
Countless volumes have been written trying to explain the mystery of three persons in one true God, leaving us to resort to metaphors such as the three-leaf clover to try to comprehend the Divinity. Many of us grew up with the quintessential pyramidal Trinity structure of God at the top and Son and Spirit in opposite corners. But what if we looked at this ‘mystery’ from a different perspective? What if we shifted our language of God as a being towards the concept of God as love? What if we focused more on the relationship within the Trinity versus the persons of the Trinity? What if stopped looking at God as a noun…and instead considered God as a verb? Check it out…
The Book of Joshua is the sixth book in the Hebrew Bible and the Old Testament, and is the first book of the Deuteronomistic history, the story of Israel from the conquest of Canaan to the Babylonian exile.
The Chakra System in our body - A Portal to Interdimensional Consciousness.pptxBharat Technology
each chakra is studied in greater detail, several steps have been included to
strengthen your personal intention to open each chakra more fully. These are designed
to draw forth the highest benefit for your spiritual growth.
The Good News, newsletter for June 2024 is hereNoHo FUMC
Our monthly newsletter is available to read online. We hope you will join us each Sunday in person for our worship service. Make sure to subscribe and follow us on YouTube and social media.
1. Pope Francis:
No to the new idolatries
From The Joy of the Gospel
(Evangelii gaudium) nn. 55-58, by Pope Francis
2. ...[A] globalization of
indifference has developed
(n. 54).
No to the new idolatry of
money
55. One cause of this situation
is found in our relationship
with money, since we calmly
accept its dominion over
ourselves and our societies.
The current financial crisis can
make us overlook the fact that
it originated in a profound
human crisis: the denial of the
primacy of the human person!
Pauline.org
3. We have created new idols.
The worship of the ancient
golden calf (cf. Ex 32:1-35)
has returned in a new and
ruthless guise in the idolatry
of money and the dictatorship
of an impersonal economy
lacking a truly human
purpose. The worldwide crisis
affecting finance and the
economy lays bare their
imbalances and, above all,
their lack of real concern for
human beings; man is
reduced to one of his needs
alone: consumption.
4. 56. While the earnings of a
minority are growing
exponentially, so too is the gap
separating the majority from the
prosperity enjoyed by those happy
few. This imbalance is the result
of ideologies which defend the
absolute autonomy of the
marketplace and financial
speculation. Consequently, they
reject the right of states, charged
with vigilance for the common
good, to exercise any form of
control. A new tyranny is thus
born, invisible and often virtual,
which unilaterally and relentlessly
imposes its own laws and rules.
Debt and the accumulation of
interest also make it difficult for
countries to realize the potential of
their own economies and keep
citizens from enjoying their real
purchasing power. To all this we
can add widespread corruption
and self-serving tax evasion,
which have taken on worldwide
dimensions. Sthitaprajna Jena/Wikimedia
5. The thirst for power and possessions knows no limits. In this system, which
tends to devour everything which stands in the way of increased profits,
whatever is fragile, like the environment, is defenseless before the interests of a
deified market, which become the only rule.
6. No to a financial system which rules rather
than serves
57. Behind this attitude lurks a rejection of
ethics and a rejection of God. Ethics has
come to be viewed with a certain scornful
derision. It is seen as counterproductive, too
human, because it makes money and power
relative. It is felt to be a threat, since it
condemns the manipulation and
debasement of the person. In effect, ethics
leads to a God who calls for a committed
response which is outside the categories of
the marketplace. When these latter are
absolutized, God can only be seen as
uncontrollable, unmanageable, even
dangerous, since he calls human beings to
their full realization and to freedom from all
forms of enslavement.
Pauline.org
7. Ethics – a non-ideological ethics – would
make it possible to bring about balance and
a more humane social order. With this in
mind, I encourage financial experts and
political leaders to ponder the words of one
of the sages of antiquity: “Not to share one’s
wealth with the poor is to steal from them
and to take away their livelihood. It is not
our own goods which we hold, but theirs”
(St. John Chrysostom).
8. 58. A financial reform open to such ethical considerations would require a vigorous change of
approach on the part of political leaders. I urge them to face this challenge with determination
and an eye to the future, while not ignoring, of course, the specifics of each case. Money must
serve, not rule! The Pope loves everyone, rich and poor alike, but he is obliged in the name of
Christ to remind all that the rich must help, respect and promote the poor. I exhort you to
generous solidarity and to the return of economics and finance to an ethical approach which
favours human beings. http://bit.ly/18B5RDK
Enrique Peña
Nieto,
President of
Mexico
9. For reflection & prayer
Have I fallen under the tyranny of the economy? For example, how many hours
during the day do I spend thinking about acquiring money and economic
wellbeing, or worrying about not having enough? How much time, instead,
do I spend informing myself about how my choices and those of my fellow
citizens affect the economic wellbeing of others?
Father of us all, forgive me for the times when I’ve rationalized myself into
pushing someone aside to get ahead. Help me to care a little more than I
did yesterday about the consequences of my choices on others.
10. For reflection & prayer
Have I fallen under the tyranny of the economy? For example, how many hours
during the day do I spend thinking about acquiring money and economic
wellbeing, or worrying about not having enough? How much time, instead,
do I spend informing myself about how my choices and those of my fellow
citizens affect the economic wellbeing of others?
Father of us all, forgive me for the times when I’ve rationalized myself into
pushing someone aside to get ahead. Help me to care a little more than I
did yesterday about the consequences of my choices on others.