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Classical liberalism is a political tradition and a branch of liberalism which advocates free market and laissez-faire economics; and civil liberties under the rule of law, with special emphasis on individual autonomy, limited government, economic freedom, political freedom and freedom of speech. Classical liberalism, contrary to liberal branches like social liberalism, looks more negatively on social policies, taxation and the state involvement in the lives of individuals, and it advocates deregulation.
Distributism is an economic theory asserting that the world's productive assets should be widely owned rather than concentrated. Developed in the late 19th and early 20th centuries, distributism was based upon Catholic social teaching principles, especially Pope Leo XIII's teachings in his encyclical Rerum novarum (1891) and Pope Pius XI in Quadragesimo anno (1931). It has influenced Anglo Christian Democratic movements, and has been recognized as one of many influences on the social market economy.
In economics, a free market is an economic system in which the prices of goods and services are determined by supply and demand expressed by sellers and buyers. Such markets, as modeled, operate without the intervention of government or any other external authority. Proponents of the free market as a normative ideal contrast it with a regulated market, in which a government intervenes in supply and demand by means of various methods such as taxes or regulations. In an idealized free market economy, prices for goods and services are set solely by the bids and offers of the participants.
A market economy is an economic system in which the decisions regarding investment, production and distribution to the consumers are guided by the price signals created by the forces of supply and demand. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production.
Laissez-faire is a type of economic system in which transactions between private groups of people are free from any form of economic interventionism. As a system of thought, laissez-faire rests on the following axioms: "the individual is the basic unit in society, i.e., the standard of measurement in social calculus; the individual has a natural right to freedom; and the physical order of nature is a harmonious and self-regulating system." The original phrase was laissez-faire, laissez-paiser, with the second part meaning "let (things) pass". It is generally attributed to Vincent de Gournay.
Christian socialism is a religious and political philosophy that blends Christianity and socialism, endorsing left-wing politics and socialist economics on the basis of the Bible and the teachings of Jesus. Many Christian socialists believe capitalism to be idolatrous and rooted in the sin of greed. Christian socialists identify the cause of social inequality to be the greed that they associate with capitalism. Christian socialism became a major movement in the United Kingdom beginning in the 19th century. The Christian Socialist Movement, known as Christians on the Left since 2013, is one formal group, as well as a faction of the Labour Party.
Christian communism is a theological view that the teachings of Jesus compel Christians to support religious communism. Although there is no universal agreement on the exact dates when communistic ideas and practices in Christianity began, many Christian communists argue that evidence from the Bible suggests that the first Christians, including the Apostles in the New Testament, established their own small communist society in the years following Jesus' death and resurrection. Many advocates of Christian communism and other communists, including Karl Kautsky, argue that it was taught by Jesus and practised by the apostles themselves. This is generally confirmed by historians.
The Social Gospel is a social movement within Protestantism that aims to apply Christian ethics to social problems, especially issues of social justice such as economic inequality, poverty, alcoholism, crime, racial tensions, slums, unclean environment, child labor, lack of unionization, poor schools, and the dangers of war. It was most prominent in the early 20th-century United States and Canada. Theologically, advocates of the movement sought to put into practice the Lord's Prayer : "Thy kingdom come, Thy will be done on earth as it is in heaven". They typically were postmillennialist; that is, they believed the Second Coming could not happen until humankind rid itself of social evils by human effort. The Social Gospel was more popular among clergy than laity. Its leaders were predominantly associated with the liberal wing of the progressive movement, and most were theologically liberal, although a few were also conservative when it came to their views on social issues. Important leaders included Richard T. Ely, Josiah Strong, Washington Gladden, and Walter Rauschenbusch.
John Rogers Commons was an American institutional economist, Georgist, progressive and labor historian at the University of Wisconsin–Madison.
Liberal Christianity, also known as Liberal Theology and historically as Christian Modernism, is a movement that interprets Christian teaching by taking into consideration modern knowledge, science and ethics. It emphasizes the importance of reason and experience over doctrinal authority. Liberal Christians view their theology as an alternative to both atheistic rationalism and theologies based on traditional interpretations of external authority, such as the Bible or sacred tradition.
The nature of capitalism is criticized by left-wing anarchists, who reject hierarchy and advocate stateless societies based on non-hierarchical voluntary associations. Anarchism is generally defined as the libertarian philosophy which holds the state to be undesirable, unnecessary and harmful as well as opposing authoritarianism, illegitimate authority and hierarchical organization in the conduct of human relations. Capitalism is generally considered by scholars to be an economic system that includes private ownership of the means of production, creation of goods or services for profit or income, the accumulation of capital, competitive markets, voluntary exchange and wage labor, which have generally been opposed by most anarchists historically. Since capitalism is variously defined by sources and there is no general consensus among scholars on the definition nor on how the term should be used as a historical category, the designation is applied to a variety of historical cases, varying in time, geography, politics and culture.
Walter Rauschenbusch (1861–1918) was an American theologian and Baptist pastor who taught at the Rochester Theological Seminary. Rauschenbusch was a key figure in the Social Gospel and single tax movements that flourished in the United States during the late 19th and early 20th centuries. He was also the maternal grandfather of the influential philosopher Richard Rorty and the great-grandfather of Paul Raushenbush.
Prosperity theology is a religious belief among some Charismatic Christians that financial blessing and physical well-being are always the will of God for them, and that faith, positive speech, and donations to religious causes will increase one's material wealth. Material and especially financial success is seen as a sign of divine favor.
Economic progressivism or fiscalprogressivism is a political and economic philosophy incorporating the socioeconomic principles of social democrats and political progressives. These views are often rooted in the concept of social justice and have the goal of improving the human condition through government regulation, social protections and the maintenance of public goods. It is not to be confused with the more general idea of progress in relation to economic growth.
Right-libertarianism, also known as libertarian capitalism or right-wing libertarianism, is a libertarian political philosophy that supports capitalist property rights and defends market distribution of natural resources and private property. The term right-libertarianism is used to distinguish this class of views on the nature of property and capital from left-libertarianism, a type of libertarianism that combines self-ownership with an egalitarian approach to natural resources. In contrast to socialist libertarianism, right-libertarianism supports free-market capitalism. Like most forms of libertarianism, it supports civil liberties, especially natural law, negative rights, the non-aggression principle, and a major reversal of the modern welfare state.
An economic ideology is a set of views forming the basis of an ideology on how the economy should run. It differentiates itself from economic theory in being normative rather than just explanatory in its approach, whereas the aim of economic theories is to create accurate explanatory models to describe how an economy currently functions. However, the two are closely interrelated, as underlying economic ideology influences the methodology and theory employed in analysis. The diverse ideology and methodology of the 74 Nobel laureates in economics speaks to such interrelation.
Kirby Page (1890–1957) was an American Disciples of Christ minister, an author, and a peace activist.
George D. Herron was an American clergyman, lecturer, writer and Christian socialist activist.
There have been a variety of Christian views on poverty and wealth. At one end of the spectrum is a view which casts wealth and materialism as an evil to be avoided and even combated. At the other end is a view which casts prosperity and well-being as a blessing from God.
Several economic theories of the first half of the 19th century were influenced by Romanticism, most notably those developed by Adam Müller, Simonde de Sismondi, Johann Gottlieb Fichte and Thomas Carlyle. Michael Löwy and Robert Sayre first formulated their thesis about Romanticism as an anti-capitalist and anti-modernist worldview in a 1984 article called "Figures of Romantic Anti-capitalism". Romantic anti-capitalism was a wide spectrum of opposition to capitalism, ultimately tracing its roots back to the Romantic movement of the early 19th century, but acquiring a new impetus in the latter part of the 19th century.
References
- Bateman, B. W. (1998). "Clearing the Ground: The Demise of the Social Gospel Movement and the Rise of Neoclassicism in American Economics". History of Political Economy. 30: 29–52. doi:10.1215/00182702-30-Supplement-29.
- Handy, Robert T. (1950). "George D. Herron and the Kingdom Movement". Church History. 19 (June): 97–115. doi:10.2307/3162192. JSTOR 3162192. S2CID 162683165.