Home
/
RELIGION & LIBERTY ONLINE
/
Where Capitalism Ends, the Covenant Continues
Where Capitalism Ends, the Covenant Continues
Dec 27, 2025 1:45 AM

As we reap the benefits of market exchange and observe the many achievements of free trade and globalization, it’s easy to give credit to the market itself, either ignoring or forgetting the munities, and institutions who actively leveragedit for mon good.

Capitalism is, after all, a mereframework for human engagement. Although the constraints it imposes (“thou shalt not steal”) and the features it elevates (ownership, stewardship, risk, and sacrifice) may fit well within a broaderChristian context, it says more about what we can and can’t do than what we might or might not imagine or plish.

As Michael Bull recently explained, through capitalism’s continuous process of value creation, it is in many ways similar to a “biblical covenant structure”:

Good businessmen understand how it works. It invariably necessitates the risk and sacrifice of what we now possess for a greater reward. Steve Jobs told us that, and demonstrated it again and again. It takes money to make money. This requires faith in the one who made the promise, even though business people do not recognize the source of the abundance is the hand of God.

Yet, of course, it is different:

God calls Man to work, which involves risk (faith), a sacrifice and some obedience to laws (which include natural and business laws), which will bring fulfillment of the promise — a greater abundance than what you sacrificed. That is where capitalism ends, but it is not where Covenant ends, and here is the problem for which socialism is tendered as a solution.

For the Christian, then, capitalism provides a simple baseline from which we can launch, holding the potential to lead us toward a broader, deeper network through which we can more freely and fullyobey the callings of the Holy Spirit in our lives as we proclaim good news to the poor. In allowing for this free-flow of individual callings, we are given opportunities and choices that many other systems would assume on our behalf.

As Bull continues:

The final step of Covenant is that you, the risk taker, e a shelter, a house, for the helpless. The final step is generosity. Capitalism only works in a moral society. This is why we can correspond the shape of good economics to the shape of the Gospel. Jesus gave His life to give abundant life to us all. He believed in the promise made to Him by the Father, the promise of resurrection—a new body. Poverty was not something to be embraced eternally. Christian socialists forget that Jesus now owns everything. All the great saints were rich people who risked their wealth for even greater wealth, a wealth that included a legacy of other people—a household. The “glory that was set before Him” was also the glory of the Church, a new body that includes every believer. Jesus Himself is our covering. We are only saved because of His atonement, His “covering.” He, the king of kings, the great Land Lord, is our shelter.

This is what it means to be On Call in Culture — to “correspond the shape of good economics to the shape of the Gospel,” infusing every act across every sphere of culture with the good news of grace and mercy, the power of the Holy Spirit, and the divine generosity of He who first loved us.

Our participation in economic life should never stop at some earthly metric of productivity and stewardship. Where capitalism ends, the covenant continues.

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
‘Sister Earth’: Pope Francis Reads G.K. Chesterton?
Pope Francis’ new encyclical on the environment, Laudato Si, is generating discussion across the web. For a round-up of responses and reactions from Acton, see Acton Speaks on the Environment. There’s plenty left to explore, respond, and reflect on, but in the meantime, it’s worth noting an interesting parallel with another great Catholic thinker (as passed along by a friend of mine). The beginning of the environmental encyclical leads off with the following statement about Earth being our “sister”: LAUDATO...
Peter Johnson: This Pope Gets It – Modern Bourgeoisie Need A Swift Kick In The Butt
In the early 2000s, I spent two years working for the Peace Corps, teaching subsistence farmers modern beekeeping practices to produce honey for consumption and sale. Despite the time and distance, I have continued to maintain close relationships with many of the desperately poor people with whom I worked. Because of my experience abroad—living first for years first in Paraguay and then Senegal, West Africa—I have long maintained a nagging sense that modern Western culture has a general apathy toward...
Samuel Gregg: Pope Francis’ Economic Blind Spots
Samuel Gregg, director of research at the Acton Institute, spoke with Business Spectator about the economic message of the new encyclical: When you read through the text, you find the free market, and finance in particular, is identified more or less as responsible for many environmental problems, Dr Gregg said. It’s almost a subterranean theme of the encyclical …In many respects it’s a caricature of market economies. Read more at “Pope Delivers Strong Message on Climate Change.” from Business Spectator....
Video: Gregory Thornbury at Acton University 2015
Wednesday was the first full day of Acton University 2015, and it ended with a plenary session featuring GregoryAlan Thornbury, the President of The King’s College in New York City. Thornbury’s address was preceded by an introduction by Acton Institute Research Fellow andassociate professor of theology at The King’s College, Anthony B. Bradley. We’re pleased to present the evening’s program here on the PowerBlog for your edification. ...
Social Justice and the Spirit of Association
What is social justice? Is it a vision of a perfectly just society? Is it an ideal set of government policies?Is it a particular theory or practice? Is it a virtue? A religious concept? A social arrangement? In a lecture at Acton University on his ing book, Social Justice: What It Is, What It Isn’t, Michael Novak soughtto answer somethese questions with a particular framework around intermediary institutions. Offeringa broad survey of the term’s origins, history, and modern use and...
Don’t Blame Markets, But Sin for Environmental Problems
Kishore Jayabalan, director of the Acton Insitute’s Rome office – Istituto Acton – has issued the following statement today regarding Pope Francis’s much-awaited enviromental encyclicalLaudato Si’.Among other things, Jayabalannotes: “[Francis] seems to blame markets, over-consumption and especially finance, rather than human sin, for all our environmental problems.” I appreciate and e Pope Francis’s encyclical,Laudato Si’, which challenges us to re-examine how we treat the earth and each other. These are non-negotiables for Catholics and there is much we can do...
A Guide to Laudato Si: A Section-By-Section Summary of Pope Francis’ Encyclical on the Environment
Pope Francis has released his eagerly anticipated encyclical on the environment, Laudato Si’. While the document deserves a close reading, its extreme length (80 pages/45,000 words) will make it difficult for many people to process. To help highlight some of the key points I’ve produced a section-by-section summary of the entire encyclical. As with any summary, much of the meaning and context will be lost. But I hope this will provide you with a starting point for greater engagement with...
Environment Encyclical Is ‘Well Intentioned, Deeply Flawed’
Samuel Gregg, Acton’s director of research, writes in The American Spectator today about Laudato Si’, Pope Francis’ encyclical which addresses environmental issues. Gregg says that part of the encyclical’s intent is to add to the global discussion regarding the environment and to the climate change debate. However, Gregg believes that the encyclical, rather than enlightening, is muddying the waters. To be sure, there is much about today’s global economy that merits criticism. The encyclical rightly underscores the problem of bailing...
Why monasteries succeed but secular communes fail
In a lecture on markets and monasticism at Acton University, Dylan Pahman gave a fascinating overview and analysis of the interaction between Christian monasticism and markets. He’s written on this before and has a longer paper on the topic as well. In the talk, he highlighted a range of facts and features, from monastic teachings on wealth and poverty to the historical realities of munities and enterprises. Over the centuries, monasteries have contributed a host of products and services to...
11 Things You Probably Won’t Hear About Pope Francis’ Encyclical
The editors at The Stream put together this list of 11 things aboutLaudato Sithat probably won’t be in the headlines: (1) Creation has a Creator, and is more than just “nature-plus-evolution”: (75) A spirituality which forgets God as all-powerful and Creator is not acceptable. That is how we end up worshiping earthly powers, or ourselves usurping the place of God, even to the point of claiming an unlimited right to trample his creation underfoot. The best way to restore men...
Related Classification
Copyright 2023-2025 - www.mreligion.com All Rights Reserved