Journal of Markets & Morality is a peer-reviewed academic journal published by the Acton Institute for the Study of Religion & Liberty. The journal promotes intellectual exploration of the relationship between economics and morality from both social science and theological perspectives.

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The Globethics.net library contains articles of the Journal of Markets & Morality as of vol. 1(1998) no. 2 to current.

Recent Submissions

  • Ethical Beliefs in the Catholic Business School: The Impact of Catholic Social Teaching on Classroom Reality

    Kidwell, Linda Achey; Kidwell, Roland E. (Acton Institute for the Study of Religion & Liberty, 2012-02-27)
    Despite a values emphasis said to distinguish Catholic business schools from secular institutions, a focus on moral development through principles of Catholic social teaching (CST) resembles the prominent role that ethics education plays at business schools accredited by AACSB International. This study measured faculty knowledge and use of CST in undergraduate business classes at Catholic and non-Catholic AACSB institutions and among Catholic and non-Catholic faculty. The results reveal both professional bureaucracy and cultural influences on ethical perspectives: Both Catholic and non-Catholic faculty at AACSB schools have similar views regarding the ethics of professional interactions with students, but faculty with a connection to Roman Catholicism are more likely to be familiar with and to use recent business-related interpretations of CST. Nonetheless, a majority of faculty at Catholic institutions are unfamiliar with CST. We conclude that if Catholic institutions wish to provide an ethics-based business education, familiarity with and use of CST appear to be unnecessary at AACSB-accredited schools. If, however, CST principles are to be important spiritual elements for students who are receiving a Catholic education, then Catholic institutions must increase awareness and perceived relevance of CST among Catholic and non-Catholic faculty.Linda Achey Kidwell and Roland E. Kidwell, "Ethical Beliefs in the Catholic Business School: The Impact of Catholic Social Teaching on Classroom Reality," Journal of Markets & Morality 9, no. 2 (Fall 2006): 293-315
  • Professional Ethics and Complicity in Wrongdoing

    Mellema, Gregory (Acton Institute for the Study of Religion & Liberty, 2012-01-27)
    The moral status of those whose role in wrongdoing is complicit rather than primary seems not to be well understood by participants in the professional community. Saint Thomas Aquinas in his Treatise on Justice (S.T., Pt. II-II, Q. 62,7) provides a taxonomy of ways in which a persons involvement may constitute complicity in wrongdoing. I believe that his taxonomy can be helpful in better understanding the moral status of those who are not the primary actors in corporate or organizational wrongdoing, and in this article I attempt to show how the work of Aquinas, though written in the thirteenth century, provides considerable illumination upon this area of applied ethics.Gregory Mellema, "Professional Ethics and Complicity in Wrongdoing," Journal of Markets & Morality 11, no. 1 (Spring 2008): 93-100
  • Review of "Suspicious Gifts: Bribery, Morality, and Professional Ethics" by Malin kerstrm

    Barnett, Timothy J. (Acton Institute for the Study of Religion & Liberty, 2014-06-12)
    Suspicious Gifts: Bribery, Morality, and Professional EthicsMalin kerstrmNew Brunswick, NJ: Transaction, 2014 (191 pages)
  • An Aristotelian-Thomistic Approach to Professional Ethics

    Macaulay, Michael; Arjoon, Surendra (Acton Institute for the Study of Religion & Liberty, 2014-02-13)
    The underlying causes of the global financial crisis of 2008 are numerous and complex and include structural, economic-technical, and personal decisions dimensions. Effectively, these causes reflect a failure in corporate governance mechanisms. This article makes a case for professional ethics in proposing a moral psychological approach that uses virtue ethics and moral principles that focuses on moral selfhood, in particular: an approach that reduces the moral gap between the real self and the ideal self. Such an approach equips one with the requisite moral and psychological preparedness in responding to adverse situations that represent excellent opportunities for personal growth and well-being. The ultimate solution to the global financial meltdown demands the development of the virtuous agent that entails perfecting human nature as it is (characterized by its susceptibility or proneness to error) and pursuing human nature as it ought to be (characterized by its natural inclination toward truth and moral goodness).Michael Macaulay and Surendra Arjoon, "An Aristotelian-Thomistic Approach to Professional Ethics," Journal of Markets & Morality 16, no. 2 (Fall 2013): 507-527
  • Wisdom and Work: Perspectives on Human Labor from Ecclesiastes

    Charles, J. Daryl (Acton Institute for the Study of Religion & Liberty, 2019-06-28)
    Because of its genre, attempting to interpret Ecclesiastes is difficult, as evidenced by a perusal of most biblical commentaries and the fact of its general neglect in standard teaching and preaching. By ignoring wisdom literature, we miss valuable insights into living, to our great peril, such as: the importance of virtue and moral formation, lessons from physical nature that bear upon human nature, the value of suffering, the reality of divine providence in light of life’s mystery, and an anatomy of stewardship. This essay explores what could be gained through a study of the theme of human labor in Ecclesiastes. It will be argued that two approaches to ultimate reality—one that fails to reckon with divine providence and inscrutability and one that humbly embraces them—are in “dialogue.” The former induces an outlook that is despairing and marked by resignation; the latter, however, receives life, with its fleeting moments, and everything in it—inclusive of human labor—as a “gift” of God. This alternative interpretation, rather than viewing Ecclesiastes as promoting despair and pessimism, understands the book to be teaching through its “indirect theology” that the God-fearer will experience levels of satisfaction and contentment, notably in the context of one’s work, and that this experience, not despair and resignation, is normative.J. Daryl Charles, "Wisdom and Work: Perspectives on Human Labor from Ecclesiastes," Journal of Markets & Morality 22, no. 1 (Spring 2019): 7-40.
  • Review Essay: Theological Medicine for Liberal Democracy

    ten Napel, Hans-Martien (Acton Institute for the Study of Religion & Liberty, 2019-06-28)
    As Smith points out, the genealogy of liberal democracy demonstrates that liberalism is nothing less than the prodigal son of Christianity. Thus, it becomes plausible that Christianity has a continuing role to play in a liberal democracy. Smith might even be right that it is not so much common grace and natural law, but rather Christianity exclusively, on which liberal democracy is dependent. Constitutional lawyers and political scientists would indeed be well-advised to be more generous in integrating theological insights as well into their work in order to find this out for themselves.Hans-Martien ten Napel, "Review Essay: Theological Medicine for Liberal Democracy," Journal of Markets & Morality 22, no. 1 (Spring 2019): 169-181.**Review essay of James K. A. Smith, Desiring the Kingdom: Worship, Worldview, and Cultural Formation, Cultural Liturgies, vol. 1 (Grand Rapids: Baker Academic, 2009); Imagining the Kingdom: How Worship Works, Cultural Liturgies, vol. 2 (Grand Rapids: Baker Academic, 2013); Awaiting the King: Reforming Public Theology, Cultural Liturgies, vol. 3 (Grand Rapids: Baker Academic, 2017).
  • Tenure, Academic Freedom, and “Howling Mobs”: A Response to Aeon J. Skoble

    Bruce, James E. (Acton Institute for the Study of Religion & Liberty, 2019-06-28)
    I am grateful to Aeon Skoble for his thoughtful and provocative response to my essay. Disagreement helps us think more carefully about what we believe and whether we are right to do believe it. For the sake of clarity, I try to elucidate the points of disagreement between us by raising a series of questions. In doing so, I try to be a fair and charitable interpreter of his remarks, though I predictably disagree with them.James E. Bruce, "Tenure, Academic Freedom, and 'Howling Mobs': A Response to Aeon J. Skoble," Journal of Markets & Morality 22, no. 1 (Spring 2019): 201-205.
  • Editorial: The War of Ideas

    Schmiesing, Kevin (Acton Institute for the Study of Religion & Liberty, 2019-06-28)
    Although ideas naturally take on new guise with every appearance—they must, after all, be articulated and applied within particular cultures (languages, religions, technologies)—they remain fundamentally recognizable throughout history. In a given time and place one idea may seem to be ascendant and its rival decisively beaten; but it is just a matter of time before the vanquished idea returns, like Napoleon out of exile, and enjoys its own, more or less ephemeral, triumph.
  • Review of "Wilhelm Röpke (1899–1966): A Liberal Political Economist and Conservative Social Philosopher" edited by Patricia Commun and Stefan Kolev

    Gregg, Samuel (Acton Institute for the Study of Religion & Liberty, 2019-06-28)
    Wilhelm Röpke (1899–1966): A Liberal Political Economist and Conservative Social PhilosopherPatricia Commun and Stefan Kolev (Editors)Cham, Switzerland: Springer International, 2018 (282 pages)
  • Review of "Christian Hospitality and Muslim Immigration in an Age of Fear" by Matthew Kaemingk

    van Vliet, Jan (Acton Institute for the Study of Religion & Liberty, 2019-06-28)
    Christian Hospitality and Muslim Immigration in an Age of FearMatthew KaemingkGrand Rapids, Michigan: Eerdmans, 2018 (352 pages)
  • Review of "Adam Smith: Systematic Philosopher and Public Thinker" by Eric Schliesser

    Clark, Henry C. (Acton Institute for the Study of Religion & Liberty, 2019-06-28)
    Adam Smith: Systematic Philosopher and Public ThinkerEric SchliesserOxford: Oxford University Press, 2017 (432 pages)
  • Statement of Principles for Economic Personalism

    Economic Personalism, Center for (Acton Institute for the Study of Religion & Liberty, 2013-10-18)
    A statement of the principles as assembled by the Center for Economic Personalism which prompted the essays found in these Congressional proceedings. These include: Dignity of the Person, Social Nature of the Person, Importance of Social Institutions, Human Action, Subsidiary Role of Government, Creation of Wealth, Economic Liberty, Economic Value, Priority of Culture, and Significance of Interdisciplinary Work.Center for Economic Personalism, "Statement of Principles for Economic Personalism," Journal of Markets and Morality 4, no. 2 (Fall 2001): 353-355
  • Review of "Abraham Kuyper, Conservatism, and Church and State" by Mark J. Larson

    Watson, Micah (Acton Institute for the Study of Religion & Liberty, 2016-05-25)
    Abraham Kuyper, Conservatism, and Church and StateMark J. LarsonEugene, Oregon: Wipf and Stock, 2015 (111 pages)
  • Other Books of Interest

    Staff, JMM (Acton Institute for the Study of Religion & Liberty, 2016-05-25)
    Short synopses of other books that examine the intersections between faith, freedom, markets, and morality.
  • Why Markets May Best Promote Care in Education

    Currie-Knight, Kevin (Acton Institute for the Study of Religion & Liberty, 2019-06-28)
    Care ethics is a normative moral theory whose proponents argue that the salient feature of moral acts is whether they establish or maintain caring relationships between people. When care ethicists discuss how education should be administered in and for a caring society, the consensus is that governments are the proper administrators of educational services, and care ethicists often distrust private actors offering educational services. I will offer reasons why, according to care ethicists’ own standards, educational markets may be more compatible with an ethic of care than government-provided public education. Markets for private educational services tend to be more attentive and responsive to needs than public education, and interaction between producer and consumer tends to be more direct and reciprocal than public education systems. I will also address several objections that care ethicists might have.Kevin Currie-Knight, "Why Markets May Best Promote Care in Education," Journal of Markets & Morality 22, no. 1 (Spring 2019): 67-80.
  • Tenure: The Good Outweighs the Bad: A Surresponse to James E. Bruce

    Skoble, Aeon J. (Acton Institute for the Study of Religion & Liberty, 2019-06-28)
    James E. Bruce opens his reply to my previous essay with gracious remarks, which I appreciate and reciprocate. I could not help noticing that part of what he was being gracious about was that “Disagreement helps us think more carefully about what we believe and whether we are right to believe it.” The idea here is as old as Socrates, who was put to death because not enough people understood it, and indeed for most philosophers it is a foundational principle. John Stuart Mill used this principle as the basis for his defense of robust rights of freedom of conscience and freedom of expression. Mill notes that while such rights are protections of individuals, they benefit the entire community.Aeon J. Skoble, "Tenure: The Good Outweighs the Bad -- A Surresponse to James E. Bruce," Journal of Markets & Morality 22, no. 1 (Spring 2019): 207-210.
  • Market-Based Measurement for School Achievement

    Magness, Phillip; Surprenant, Chris W. (Acton Institute for the Study of Religion & Liberty, 2019-06-28)
    Over the last thirty years, state governments have paid ever-increasing attention to the results of standardized testing to identify successful schools, rewarding those with better performance by allocating to them a greater share of resources. Although traditional, high-stakes, standardized testing has been shown to be effective at measuring discrete skills or a predetermined list of facts, the overwhelming majority of research into its effectiveness shows not only that these tests fail to measure educational quality but also that their use tends to negatively affect the intellectual development of students in the classroom. This article argues for an alternative mechanism to evaluating school achievement. We claim that a free-market approach to education, one that includes central features of market systems—profits, market entry, price changes, product differentiation, and competition—not only provides a better mechanism than the use of high-stakes testing by which to allocate limited financial resources and motivate academic achievement but also serves as a more accurate tool to measure the quality of school programs.Phillip Magness and Chris W. Surprenant, "Market-Based Measurement for School Achievement," Journal of Markets & Morality 22, no. 1 (Spring 2019): 81-98.
  • Review of "Holy Humanitarians: American Evangelicals and Global Aid" by Heather D. Curtis

    Joustra, Robert J. (Acton Institute for the Study of Religion & Liberty, 2019-06-28)
    Holy Humanitarians: American Evangelicals and Global AidHeather D. CurtisCambridge, Massachusetts: Harvard University Press, 2018 (370 pages)
  • Review of "Just Business: Christian Ethics for the Marketplace" (Third Edition) by Alec Hill

    Brown, Kevin (Acton Institute for the Study of Religion & Liberty, 2019-06-28)
    Just Business: Christian Ethics for the Marketplace (Third Edition)Alec HillDowners Grove, Illinois: IVP Academic, 2018 (300 pages)
  • Review of "Greed, Self-Interest and the Shaping of Economics" by Rudi Verburg

    Berg, Ross (Acton Institute for the Study of Religion & Liberty, 2019-06-28)
    Greed, Self-Interest and the Shaping of EconomicsRudi VerburgNew York: Routledge, 2018 (215 pages)

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