Moral Economy in Global Perspective: Protestant Christianity , Confucianism , Islam and Hinduism

Barbara A. McGraw

Barbara A. McGraw Professor of Social Ethics, Law, and Public Life and Director of the Center for Engaged Religious Pluralism Saint Mary's College of California, USA

Keywords: Moral Economy, Christianity, Confucianism, Islam and Hinduism

Abstract

A religio-cultural perspective underlying capitalism in the U.S., which is found in a distorted understanding of individualism originally rooted in Calvinist Protestantism, provides a theological justification for a winner-take-all economic system that influences global economic policy-makers. This perspective can be compared to and augmented with religio-cultural perspectives grounded in the world religions, which provide insights for a better understanding of the individual (Protestantism; Hinduism), the importance of valuing affective relationships (Confucianism), the justice of fair economic distribution
(Islam), and the sacredness and interconnectedness of all of Nature, including human beings (Hinduism). The inclusion of such wisdom contributes to a more robust conversation on the global level about what values economic policies should serve and suggests policy imperatives. Such contributions reorient current assumptions and therefore could contribute to the development of global economic policies that are more responsive to the needs of individuals, families, communities, societies and planetary well-being, and less focused on justifying the accumulation of wealth by the powerful.