Bulls, Bears and Golden Calves: Applying Christian Ethics in Economics

by John E. Stapleford

Overview

Self-interest, economic efficiency and private property rights are among the most basic assumptions of market economics. But can an economic theory built on these assumptions alone provide adequate insight into human nature, motivation and ultimate goals to guide our economic life? John Stapleford says no, along with those economists who recognize the limits of their discipline. He insightfully shows us in detail how ethics are inextricably intertwined with economic life and analysis. Writing from a Christian ethical perspective, he interacts with seven standard introductory economics texts, exploring the moral challenges embedded in various macro-, micro- and international economic theories and outlining a faithful response to them. The third edition includes two new chapters on economics as a science and global poverty plus expanded discussions of entitlements, government debt, healthcare reform and immigration reform. Keyed to seven of the most widely used introductory economics texts—Gwartney, Stroup Sobel; Mankiw; Mansfield Behravesh; McConnell Brue; Miller; Samuelson Nordhaus; and Stiglitz—this book will be especially useful for introductory courses in economics.

Product Details

ISBN-13:	9780830840724
Publisher:	InterVarsity Press
Publication date:	03/26/2015
Edition description:	Third Edition, Revised, Third Edition
Pages:	335
Product dimensions:	6.00(w) x 8.90(h) x 1.00(d)

About the Author

John E. Stapleford (PhD, University of Delaware) is president of the Caesar Rodney Institute, an education nonprofit. He is also principle in DECON First and a professor emeritus of economic development with Eastern University. Previously he was an associate director and senior economist with Moody's Analytics.

Table of Contents

Preface to the Third Edition
Acknowledgments
Introduction
Part 1: Laying the Foundation
1 Grid Work: A Theological and Ethical Framework
Part 2: Reflections on the Basic Assumptions of Economics
2 Me, Myself and Why: Pursuit of Self-Interest Promotes . . . What Exactly?
3 Waste Not? Reappraising the Goal of Economic Efficiency
4 It's Mine! Private Property Rights
Part 3: Macroeconomic Issues
5 But I'm Positive! Economics as a Science
6 How Does Your Garden Grow? The Possibilities and Perils of Economic Growth
7 Render unto Caesar: The Role of Government in the Economy
8 Overemployment: The Growth of Work and the Loss of Leisure
9 Catching Your Interest: Lending and Borrowing in Scripture and History
10 Gross Compensation: Executives Rolling in Dough
Part 4: Microeconomic Issues
11 A Clarion Call: Poverty and Distributive Justice
12 Tending the Garden: Environmental Stewardship
13 Who's Responsible? Business and Social Responsibility
14 False Hope: The Boom in Legalized Gambling
Part 5: International Issues
15 The Naked Gorilla: The Ethical and Economic Challenge of the Pornography Industry
16 A Matter of Life and Debt: Debt Relief for Less-Developed Countries
17 Give Me Your Tired, Your Poor: The Economics of Immigration
18 The Malthusian Blues: The Ethics and Economics of Population Control
19 Sand in the Gears: The Corrosive Effect of Corruption
20 Why Waste Resources? Do Rural Development by the Book
21 Global Poverty: Top Down or Bottom Up?

What People are Saying About This

Kenneth G. Elzinga

"The study of economics should not be disconnected from ethical concerns. Bulls, Bears and Golden Calves provides clear guidance for identifying and discussing, within a Christian framework, important ethical issues connected to an economy's organization. Keying the book to the leading textbooks, John Stapleford provides an indispensable resource for students and teachers of introductory economics courses—though the book merits study outside the classroom as well. I particularly appreciated the faithful reliance on Scripture as the ethical benchmark applied throughout the book."

Dr. Marvin Olasky

"A well-written, much-needed supplement to introductory economics texts."

Richard C. Chewning

"This is a wonderful book! It highlights significant economic issues being faced in America today. It fairly presents the competing worldviews regarding these problems. And it brings Scripture to bear on each area of contention in a way that challenges the reader to think Christianly."

C. William Pollard

"How does one integrate their faith with the work of selling goods and services and making money? John Stapleford provides a careful and thoughtful Christian worldview of the marketplace. It is a must-read for the serious Christian who has a commitment not only to share their faith but also to live their faith."

Edd Noell

"Bulls, Bears Golden Calves opens the door for beginning students of economics to the realm of applied Christian thought on the modern economy. John Stapleford's work invites both new students and experienced economists alike to pursue this passageway. Designed to be used as a supplementary text in the teaching of economic principles, its format and content are very helpful for Christian economists looking to introduce students to a biblical perspective on a wide range of modern economic issues. Across a spectrum extending from the lending of money at interest to the thorny problem of immigration, Stapleford provides salutary, compelling examples. His discussion applies careful economic reasoning combined with ethical direction aptly derived from the Scriptures. The book takes seriously the authority of Scripture in critically reflecting on the core assumptions of economics while guiding readers in an irenic yet challenging manner. I strongly recommend Bulls, Bears Golden Calves as an introductory guide to applying Christian ethics to the world of economics."

Editorial Reviews

"How does one integrate their faith with the work of selling goods and services and making money? John Stapleford provides a careful and thoughtful Christian worldview of the marketplace. It is a must-read for the serious Christian who has a commitment not only to share their faith but also to live their faith."

C. William Pollard

"Bulls, Bears, and Golden Calves is a simply phenomenal read that will challenge all readers to live out a Christian life in the realm of economics."

J.W. Wartick

"A well-written, much-needed supplement to introductory economics texts."

Dr. Marvin Olasky

"The study of economics should not be disconnected from ethical concerns. Bulls, Bears and Golden Calves provides clear guidance for identifying and discussing, within a Christian framework, important ethical issues connected to an economy's organization. Keying the book to the leading textbooks, John Stapleford provides an indispensable resource for students and teachers of introductory economics courses—though the book merits study outside the classroom as well. I particularly appreciated the faithful reliance on Scripture as the ethical benchmark applied throughout the book."

Kenneth G. Elzinga

"Bulls, Bears Golden Calves opens the door for beginning students of economics to the realm of applied Christian thought on the modern economy. John Stapleford's work invites both new students and experienced economists alike to pursue this passageway. Designed to be used as a supplementary text in the teaching of economic principles, its format and content are very helpful for Christian economists looking to introduce students to a biblical perspective on a wide range of modern economic issues. Across a spectrum extending from the lending of money at interest to the thorny problem of immigration, Stapleford provides salutary, compelling examples. His discussion applies careful economic reasoning combined with ethical direction aptly derived from the Scriptures. The book takes seriously the authority of Scripture in critically reflecting on the core assumptions of economics while guiding readers in an irenic yet challenging manner. I strongly recommend Bulls, Bears Golden Calves as an introductory guide to applying Christian ethics to the world of economics."

Edd Noell

"This is a wonderful book! It highlights significant economic issues being faced in America today. It fairly presents the competing worldviews regarding these problems. And it brings Scripture to bear on each area of contention in a way that challenges the reader to think Christianly."

Richard C. Chewning

"Bulls, Bears, and Golden Calves is a simply phenomenal read that will challenge all readers to live out a Christian life in the realm of economics."

--J.W. Wartick, "Always Have a Reason", April 29, 2015

"Bulls, Bears Golden Calves opens the door for beginning students of economics to the realm of applied Christian thought on the modern economy. John Stapleford's work invites both new students and experienced economists alike to pursue this passageway. Designed to be used as a supplementary text in the teaching of economic principles, its format and content are very helpful for Christian economists looking to introduce students to a biblical perspective on a wide range of modern economic issues. Across a spectrum extending from the lending of money at interest to the thorny problem of immigration, Stapleford provides salutary, compelling examples. His discussion applies careful economic reasoning combined with ethical direction aptly derived from the Scriptures. The book takes seriously the authority of Scripture in critically reflecting on the core assumptions of economics while guiding readers in an irenic yet challenging manner. I strongly recommend Bulls, Bears Golden Calves as an introductory guide to applying Christian ethics to the world of economics."

--Edd Noell, Professor of Economics and Business, Westmont College

"The study of economics should not be disconnected from ethical concerns. Bulls, Bears and Golden Calves provides clear guidance for identifying and discussing, within a Christian framework, important ethical issues connected to an economy's organization. Keying the book to the leading textbooks, John Stapleford provides an indispensable resource for students and teachers of introductory economics courses--though the book merits study outside the classroom as well. I particularly appreciated the faithful reliance on Scripture as the ethical benchmark applied throughout the book."

--Kenneth G. Elzinga, Professor of Economics, University of Virginia

From the Publisher