Review a book, get a book! Have you read something that has nurtured your faith and scholarship? ESN welcomes reviews of books from various fields of study and various genres. Our article, A Call For Reviews, includes guidelines for submitting reviews. We thank Duane Ebesu for this review that explores how religious values are connected with economic behavior.
The Oxford Handbook of Religion and Economic Ethics, edited by Albino Barrera and Roy C. Amore is a learned investigation into the connections of religious values with economic behavior. The work utilizes an interdisciplinary approach that brings religious philosophy, economic principles, and moral inquiry together in a manner that invites readers to reflect on how ethical constructs forged in religious traditions can inform modern economic practices. The editors assembled a team of scholars, all of whom contributed essays adding to the depth and ongoing discussion between faith and finance.
The thesis of the handbook is that religious beliefs and ethical frameworks continue to have determining impacts on economic decision-making and policy. It maintains that religious teaching should be one addition to economic reasoning, but an inherent element in understanding how moral imperatives guide economic activity toward a common good. This argument rests on the idea that even value-neutral contemporary economies are entangled in a web of moral concerns emanating from religious traditions.
The book is methodically structured, in sections ranging from theoretical foundations of economic ethics in religious traditions, through contemporary applications and critiques. These essays reveal how different religions—Christianity, Islam, Hinduism, Buddhism, among others—conceptualize economic ethics and how these conceptualizations manifest, in practice. This diversity expands the scope of the handbook by moving beyond a single-narrative approach and toward a more global framing of economic ethics.
Certainly, a key strength of the volume lies in its rigorous approach: the contributions include leading experts who have expertise in each subject and a deep familiarity with religious and economic practices. Each essay is complete with citations, historical contextualization, and well-advanced argumentation; for instance, the chapter on Christian economic ethics successfully draws on key theologians, such as Aquinas and Augustine, to demonstrate how scriptural interpretations have developed over centuries to meet changing economic realities.
Another salient strength of the handbook is the discussion of economic ethics from various standpoints of Islamic thought. The essays in this section develop the concepts of equity and communal benefit inherent in Islamic teaching; they bring considerable clarity to discussions of zakat—or charitable giving—and prohibition of riba—or usury. Discussions in this vein eloquently remind readers how religious doctrine may shape socioeconomic systems and policies that promote equity and social responsibility.
But what makes the book unique is how religious ethics are brought to bear on concrete economic problems. In these essays, theory and practice come together as the discussion focuses on inequality, environmental sustainability, and corporate responsibility. The essay on Buddhist thought discusses how mindfulness and moderation can balance the consumerism at the heart of market economies today. The Hindu perspective of dharma is viewed in the context of ethical business practices, where duty and righteous conduct are the bedrock for sustainable development.
In fact, it is within these types of examples where the reader is left wanting more: the practical utility of this text would greatly increase with more case studies and situations in which religious ethics have influenced economic outcomes in specific contexts. While the historical and theological explorations are complete, further engagement with current economic theories and debates would provide an explicit linkage with contemporary economic frameworks such as capitalism, socialism, and mixed economies, providing a greater degree of relevance for economists and policymakers who may not be familiar with the religious dimensions of economic ethics. The handbook could also benefit from a more integrated approach; for example, thematic chapters that bring religious perspectives on common topics, like the distribution of wealth or corporate ethics, would provide an integrated perspective. Contributions from contemporary religious leaders or economic thinkers who apply these principles in the real world could relate these religious viewpoints into a coherent whole. While the individual essays offer much insight, a concluding chapter confronting the various perspectives with a broader conclusion would have been beneficial, allowing a better understanding of the specific tenets of each religion, while identifying common ethical themes that inform universal economic policies.
This handbook is strongest in maintaining its interdisciplinary dialogue, and the editors have invited theologians, economists, and ethicists alike to bridge the gap that these three groups of scholars might present. For this reason alone, the book should be an asset to scholars from a number of fields, with its cross-disciplinary perspective moving past reductionist economic theories of rational self-interest and igniting discussions on how economic behaviors are often guided by deeply held ethical beliefs and religious commitments. This balanced perspective produces a reference for advanced students and non-specialists interested in the points of interconnection between religion, ethics, and economics. Although casual readers or those unfamiliar with the subject may find the academic references too dense, for others, it will be a thought-provoking and substantial read—especially academics, religious leaders, and ethical policy advisors.
Overall, an important agreement within the book is the acknowledgment that religious ethics can address some of the moral lacunae of existing economic systems. The handbook successfully argues that an ethical-religious approach to economic practices—in the present context of economic inequality and ecological disaster—can provide new perceptions into responsible capitalism and the just distribution of resources. These arguments reach agreement with the debate on sustainability and corporate governance, further pressing the need for moral values within economic systems.
The Oxford Handbook of Religion and Economic Ethics represents a worthwhile contribution in bringing together a wide range of religious and ethical perspectives, relevant to economic practice. The strength of this collection is an in-depth treatment of how various religious traditions perceive economic behavior, from the standpoint of religious studies, ethics, and economics. This is an essential book for scholars and other professionals interested in the interaction of moral and religious principles with economic theory, serving as a reflection of how economic decisions are informed by the moral imperatives of world religions that encourage humane economic policies.
Barrera, Albino and Roy C. Amore, ed. The Oxford Handbook of Religion and Economic Ethics (Oxford, England: Oxford University Press, 2024).
Duane Ebesu, M.Phil., M.S., M.B.A., is a doctoral candidate at Columbia University. He holds certifications in technical and professional writing from California State University, Long Beach and in economics, from the Global Academy of Finance & Management (ChE).