It’s ironic that this quote has been attributed to the economist John Maynard Keynes. Ironic, because economists as a breed are not known for changing their minds very often. They are not alone in this, of course. The social sciences, beset by so-called ‘physics envy’, seem at pains to be more scientific than thou.
JustShare Lecture – St Mary-le-Bow Church – 29 January 2014 at 6.05pm
In general, market capitalism depends on 7 big ideas. Economists like to look scientific, so they tend to present these ideas as laws of nature. But even scientific truth is not this fixed, and the flat-earthers have moved on. But not so the Economists. The 7 big ideas that served the market so well in the past have now become sins not virtues, and are toxic to its future. And unless we correct the system at a fundamental level, reform is doomed to fail. But where to start? Tonight I’ll start with a quick run down on Capitalism’s 7 Deadly Sins. Then I will talk about the theology that informs my critique and ask some tricky questions. After all, it’s hardly fair to attack the market’s beliefs without being candid about my own. Finally, I’ll suggest ways in which Christians everywhere can get involved in the market’s reform.