Capitalism versus socialism has raised its head again in biblical ethics. Debate has re-ignited among Christians on whether capitalism is compatible with Christianity. In the US, a majority view is that held by conservative evangelicals who are ready to maintain capitalism as it is. Conversely, a minority position is put by the Radical Orthodoxy School, more inclined to socialism. Other positions also exist, for example, that neither capitalism nor socialism is compatible with Christianity. This paper tries to pick its way through these contentions, emphasizing the arguments of contemporary Christian supporters of capitalism. It focuses on three Christian qualities the capitalist advocates stress. Capitalism and socialism are briefly defined. Ways by which reform might be undertaken inside capitalism are explored, taking the US as example. Some of the reforms proposed in this paper are sometimes labelled “socialist,” but the definitions of socialism and capitalism suggest that the reforms can be accommodated inside a transformed capitalism.
Beed, Clive and Beed, Cara
"Capitalism, Socialism, and Biblical Ethics,"
Journal of Religion and Business Ethics:
Vol. 3, Article 18.
Available at: http://via.library.depaul.edu/jrbe/vol3/iss1/18