Claar, Economics in Christian Perspective

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Victor V. Claar and Robin J. Klay, Economics in Christian Perspective: Theory, Policy, and Life Choices. InterVarsity Press, 2007.

Referenced in: Christian Perspectives on Economics and Public Policy

LifeandLeadership.com Summary

This is a weighty, academic work adequate for use as a text in an introductory college-level course in microeconomics. Many church leaders may lack adequate background to appreciate its contents. Yet as indicated in the Ministry Resource Guide on this issue, many who are interested in ministries of social compassion and social justice will encounter popular authors who wed their ministry proposals to socialist/Marxist economic theory. Readers may feel compelled to embrace these foundations. Christians should indeed be passionate about social justice. It would be incorrect, however, to attribute to socialists/Marxists the moral high ground when prescribing economic policies that best reflect Christian values.

The authors of this text are accomplished academicians and economists with unquestionable Christian social sensitivity. They contend that capitalism, not socialism or Marxism, is the economic system that best expresses God’s intent for a just society. In this respect, they are in the company of others listed in the resource guide, Christian Perspectives on Economics and Public Policy. Jay Richards, Money, Greed, and God is probably the best place to start for ministers who need exposure to economic theory through a biblically informed lens. But for those who feel ready to delve deeper into economics, this volume by Claar and Klay is the place to go.

Claar and Klay frame their proposals on the following philosophy:

“A just and prosperous society depends for its continued success on maintaining the right balance of power and responsibility among three principle spheres: democratic governments, market-organized economies, and strong moral and cultural institutions. Thus the guidance we offer for addressing economic problems flows from identifying points at which markets, governments and institutions (like churches) are especially apt to make a difference for good or ill. We articulate a set of Christian principles and values needed to undergird economic and social action in order to produce a just and prosperous society anywhere in the world.” (10)

Those familiar with Christian political theory will immediately see a reflection of the principled pluralist philosophy of Abraham Kuyper, which is described thoroughly in Kemeny, Church, State, and Public Justice: Five Views.

Guided by this philosophy, the authors provide twelve in-depth essays that together constitute an excellent primer on Christian market-based economics toward a just society:

Christian Faith in Relationship to Economic Activity: Framing the Issues
Markets: Mechanisms for Creating Good and Exercising Christian Responsibility
Public Finance: The Role of Government in the Provision of Goods and Services
Savior or Leviathan?: The Role of Government in Our Daily Lives
Creation Care: Exercising Good Stewardship in the Garden
The Big Picture: Issues in Macroeconomic Policy
What Do We Know About Monetary and Fiscal Policy?
International Economic Relations: Hope for the Third World
Work and Vocation: What Is in Your Hand?
Rich Man, Poor Man, Beggar Man, Thief: Attending to the Poor or Worrying About Income Gaps?
Going Beyond Markets: Renewing Neighborhoods, Reconciling People and Restoring Hope

Epilogue: Nine Big Ideas from Economics That Can Help You Be a Good Steward Every Day

While many church leaders may neither want nor need a high level of education on economics, the encouraging increase of interest in Christian social justice will elevate the importance of being economically well-informed. This text is important toward that end.

Publisher’s Product Description

Unemployment. Environmental damage. Poverty.

Economists Victor Claar and Robin Klay critically engage mainstream economic theory and policy recommendations to provide guidance for faithfully and responsibly addressing these and other important economic issues. Affirming that a just and prosperous society depends for its continued success on maintaining the right balance of power among three principal spheres –democratic governments, market-organized economies, and strong moral and cultural institutions – Claar and Klay demonstrate how Christian principles and values guide and undergird a flourishing and just economy.

This text is for use in any course needing a survey of the principles of economics.

Editorial Reviews

“Claar and Klay combine Christian teachings and modern economic analysis in a book that informs both the head and the heart. This book also affords an opportunity to incorporate material on values and social capital into a mainstream course in economic principles.” – Kenneth G. Elzinga, Robert C. Taylor Professor of Economics, University of Virginia

“Victor Claar and Robin Klay have given us a sensible discussion of contemporary economic policy issues with some Christian commentary. They emphasize the usefulness of mainstream economics to Christians working in the world.” – Paul Oslington, University of New South Wales and St. Marks National Theological Centre, Canberra

“This volume presents a balanced view of the respective roles and responsibilities of governments, markets and civil society within a perspective of reasoned hope that is clearly informed by the authors’ Christian faith. The integration of Scripture and Christian reflection with economic analysis is careful and well reasoned, and also affirms the positive dimensions of the market process. The book is easily accessible to undergraduate students, and approaches the major stewardship issues of our time not only in terms of individual choice, but also from the standpoint of the family, the church and the broader communities to which we all belong. It makes creative use of a variety of examples, and addresses the primary economic challenges of our time.” – Paul R. Koch, Professor of Economics, Olivet Nazarene University

About the Authors

Victor V. Claar (Ph.D., West Virginia University) is an economist and associate professor of economics at Henderson, the public liberal arts college of Arkansas, where he specializes in teaching principles of economics courses. He spent the 2006-07 academic year as a Fulbright scholar, giving graduate lectures and conducting research at the American University of Armenia. His research interests include transnational entrepreneurial attitudes, ethics and economics, and applied microeconomics. He has written articles for Applied Economics, Public Finance Review and the Journal of Markets & Morality. He has served as referee for the journals Journal of Money, Credit and Banking, Journal of Public Economics, and Journal of Macroeconomics, among others.

Robin J. Klay (Ph.D., Princeton) is a professor of economics at Hope College, Holland, Michigan. Klay’s principal area of research and publication regards the connections between Christian faith and practice and economic theory and policy. She is the author of Counting the Cost: The Economics of Christian Stewardship. She has published articles in The Christian Century, Perspectives, Faith and Economics, and Markets and Morality. She is also an adjunct scholar at the Mackinac Center for Public Policy in Midland, Michigan, and is involved in ministry with the local Hispanic community.

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Economic Systems, Social Justice, Social Ministry