Economic Thought & Religious Values

ECON 327/CORE 369 Dr. Daniel Finn Economic Thought & Religious Values Office: Simons 248 Fall 2002 Office Hours: 9:00-11:00 AM even days 1:00-2:10 PM odd days & by appointment or chance Phone: 363-3048 COURSE DESCRIPTION Economics as a discipline provides an overall picture of the economy, from which flow convictions, attitudes, and even values concerning economic life. How economic life ought to be conducted has long been a concern of religious people, based on both moral norms and some view of what is actually happening in the economy. This course will examine various visions of economic life held by religious people in the West, focusing on the understanding of economic life in Christianity: from roots in the Hebrew scriptures and the New Testament, through the middle ages, the Protestant Reformation and the Enlightenment, up to contemporary debates about free markets, liberation theology, feminism, and the social teaching of the Roman Catholic Church today. COURSE OBJECTIVES There are four principal objectives of this course. 1. The first objective is to help you become familiar with a long tradition of thinking about economic life among Christians in the Western world. The course cannot even come close to covering all of this tradition, but it covers a representative sample of the persons and arguments involved. It is, of course, true that the Roman Catholic Church and other Christian churches are involved in an analysis and evaluation of economic life in a new and more extensive way in the twentieth century. However, the roots of religious thought and moral teaching on economic life extend three thousand years deep into the soil of Christian and Jewish history. For those enrolled in CORE 369, this course fulfills the Judeo-Christian Heritage requirement of the Core if and only if you have already completed your lower level theology requirement (one course) and your other lower division humanities requirements (two courses). Any student may take this course, but it will qualify as a Judeo-Christian Heritage course only if those three courses of lower division requirements have already been completed before this course begins. 2. The second objective is to assist you to learn how to approach and analyze a text, particularly a text written from a perspective quite different from your own. For example, a "rule of life" written 1500 years ago for a community of lay monks may seem as foreign to you as high fives would be to a Buddhist monk today. In order to come to grips with the view of each author we read, we'll begin with careful reading, move on to some structures of analysis, and pursue the meaning of the text in daily class discussion. 3. The third is to help you examine many of your own values, in particular those involved in relationships with other people and with the political and economic structures within which you live. You will be asked to explain why you hold those values and will be encouraged to re-think them in the light of your interactions with the readings and with others in the class. 4. The fourth objective is to help you to improve your writing, the most underrated form of communication in American culture today. Some students wonder why strong liberal arts colleges stress writing so much. The answer is that whatever you do in life after college, the ability to write clear, engaging, and persuasive prose will not only require better thinking on your part but it will deepen and broaden the influence you will have on those around you. Whether in the student government committee you serve on now or in your job twenty years in the future, the most influential person in the group is often the one who volunteers either to "write up" a summary of the deliberations or to compose a "first draft" of that proposal the group will send on to others. How well you write will affect both how much good you will be able to do and how many leadership roles you will be invited to take on. You will be doing several different kinds of writing in this class, receiving reactions and suggestions for improvement. For this reason, the course carries a writing flag. REQUIRED TEXTS The following books are required for the course: Benedict of Nursia. St. Benedict's Rule for Monasteries (c. 540 A.D.). Collegeville, MN: Liturgical Press. Finn, Daniel, editor. Christianity and Economic Life: A Book of Supplemental Readings, St. John's University, 1994. John Paul II, Centesimus Annus (On the Hundredth Anniversary of Rerum Novarum). Washington, DC: US Catholic Conference, 1981. The Lay Commission. Toward the Future: Catholic Social Thought and the U.S. Economy. NY: University Press of America, 1984. Riley, OP, Maria and Nancy Sylvester, IHM, Trouble and Beauty: Women Encounter Social Teaching. Washington, DC: Center of Concern, 1991. (Handout). U.S. Catholic Bishops. Economic Justice for All: Catholic Social Teaching and the U.S. Economy. Washington, D.C.: U.S. Catholic Conference, 1986. Weber, Max. The Protestant Ethic and the Spirit of Capitalism (1904). Los Angeles: Roxbury Pub. Co., 2002 PREPARATIONS FOR IN-CLASS DISCUSSIONS Social scientists who study the process of teaching and learning have long known that the key to good learning is an active learner. Sounds obvious, but it's important to keep that in mind. Because you will only learn well if you stay active as a learner, the primary method of our class will be discussion, sometimes with the whole group, sometimes in small groups of two or three. Researchers have found that students learn faster and retain their knowledge longer if they express what they are learning to someone else. The act of discussing our common readings, then, is an ideal method for this, since it not only leads you to express what you know about the texts but it also gives each student the opportunity to be questioned about the issues involved. To assist in the preparation for class discussions, there are two different kinds of assignments: 1. Each day, each student in the class will need to hand in a one-paragraph, written response to "the question of the day," a question given ahead of time by the instructor. These must be typed, double-spaced, and should be no longer than half a sheet of paper. They will be graded. Over the semester, such assignments will be worth about 25% of your final grade. Each question of the day will be worth 10 points. Because they are intended to improve your learning during class, an automatic 3 point lateness penalty will be assessed for any questions not handed in at the start of class. An additional 2 point penalty will be assessed if it is not handed in by the start of the next class period. 2. Four particular persons will be designated for the reading for each day to help begin our discussion by answering one of the following questions: News reporter: Summarize an economic news item that has a moral issue involved. (See below for more information.) Summarizer: How would you summarize in one sentence the overall "message" of the reading? Detailer: What are the (3 to 5?) most important things that the author is saying? Starter: What is the most difficult idea in the reading (the one most needing clarification) and what is the most controversial thing the author is saying? The four people assigned to do this that day will need to arrive a five minutes early and write their results on the board before class starts. During the semester, all students will rotate through each of these roles. Performance in these roles and in the class discussion will count for about 8% of your final grade. Such performance will be particularly influential for those whose grades are "on the fence" between two grades when all other factors have been taken into consideration. ETHICS, ECONOMICS, & THE DAILY NEWS In order to clarify the relevance of the course to events today, each student is expected to read a daily financial newspaper and to explicitly look for moral issues in the daily economic news. (The Wall Street Journal is suggested because of the breadth of its coverage, but others such as the Financial Times or even the business pages of the New York Times or the Washington Post will do.) Students should subscribe to one of these papers or plan to otherwise get access to one of them several times per week. In addition, for eight weeks of the term, students will be expected to keep a brief "journal" where they make 2 entries per week. Each "entry" is a 3-5 sentence statement indicating: 1. A factual business or economic issue treated in the paper, (stating which newspaper, date, page #); 2. The moral issue you see involved. Be perceptive. Everyone knows that the company dumping toxic wastes in the river is wrong. Look for subtle, interesting moral issues in business; 3. Your own judgment about what should happen and why you think so; 4. The date you wrote this entry. The requirement will begin about the third week of the semester and each student's entries must be submitted by email (to econtheol@csbsju.edu) by midnight every second Sunday during the eight weeks of the assignment. This will be worth about 10% of your final grade THE RESEARCH PROJECT During this course you will choose one of two possible research projects, which will count for approximately 15% of your final grade. The first possibility is a research paper. The format of this paper will entail your investigating a particular debate about an economic issue from the perspective of conflicting viewpoints within Christian analysis of the topic. Not all interesting issues will work. All topics will need approval by the instructor. Each paper will be 8-10 pages long. More information will be forthcoming. The second possibility will be your involvement in "service-learning" in St. Cloud. Service-learning is a technique designed to give students firsthand experience of a situation by providing a service which those involved in that situation actually need. The academic component of the service-learning project is not the service itself (though that's always good to do). The academic element is that you will be attempting to learn something important in the midst of the service project. For this course, the issue is "What is poverty and what are poor people really like?" More information on these possibilities will also be forthcoming. TESTS There will be three tests during the term. They will each count for about 15% of your final grade. There will be no final exam. HOW TO STUDY IN THIS COURSE The following steps are the most effective ways to learn the materials in this course: 1. Read the assigned readings twice and take some action to personalize the material, either highlighting the book or developing your own set of reading notes or using any other method which aids you. But do not just read passively. 2. Do not wait until "the last minute" to read! Plan to finish reading early. It may be helpful to develop a list of questions that arise from reading the text in this manner. 3. Think about your statement of the day long before you write it. It helps to think about the question of relevance to concrete issues today as you read, but don't focus only on that. You'll be responsible for the whole reading. When you write, plan on three or more electronic "drafts." 4. Take notes in class (and, if it is helpful to you, redraft them after class). 5. Ask questions in class when you don't understand something. Participate actively in discussions. 6. Optionally, work with a partner outside of class on a regular basis. All will benefit through learning more from this cooperation. ATTENDANCE You are expected to attend all class sessions. Many of the readings are difficult to understand and our discussions in class will often be crucial to your grasping the analysis in the reading. It is even possible that you may be expected to attend additional events, for example, relevant lectures on one of the campuses. EVALUATIONS The primary goals of this course are listed on page one of the syllabus. At the same time however, academic traditions (and rules!) require that your performance be evaluated. Grading will be based on the A-F scheme unless you request S-U grading by the deadline listed below. See the CSB/SJU Catalog for rules governing S-U grading. Your final grade will be determined in approximately the following manner: Question of the day 23% 300 points 4 roles and discussion 8% 100 points 3 Tests (200 points each) 46% 600 points Daily news assignments 8% 100 points Research Project 15% 200 points Total 100% 1300 points Conversion of points earned during the semester into letter grades will be approximately as follows: 1170 points or above A 1105 points AB 1040 points B 975 points BC 910 points C 845 points CD 780 points D 779 points or below F There is no "curve" for the grading. Everyone can earn an "A" — or any other grade — depending on the points earned during the term. DEADLINES November 13 Last day to withdraw from a semester-long course (with the grade of "W"). After that you cannot drop the course and the professor must give you the grade you earn in the course. November 13 Last day to request S/U grading in this course. COURSE SCHEDULE INTRODUCTION Syllabus and Preliminaries Wed., Aug 28 Divergent Views on Economic Life Franz J. Hinkelammert, The Economic Roots of Idolatry (In Christianity and Economic Life, p. 2-15, abbreviated below as "CEL") Fri., Aug 30 George Gilder, Where Capitalism and Christianity Meet (CEL, 16-23) Tues., Sept. 3 The Catholic Worker (CEL, 24-27) The Economic View of the Human Person Adam Smith, (CEL, 28-34) Thurs., Sept. 5 On Self Interest and the Trucking Disposition On Sympathy W. Stanley Jevons, Utility Theory (CEL, 35-41) EARLY SOURCES ON ECONOMIC LIFE The Bible The Hebrew Scriptures (CEL, 50-56) Mon., Sept. 9 The Christian Scriptures: (Cel, 57-69) Wed., Sept.11 Patristic Period Clement of Alexandria and Ambrose (CEL, 68-85) Fri., Sept.13 Required Reading and Journal for News of the Day Begins Fri., Sept. 13th. Re-read the instructions above, submit by email to econtheol every 2nd Sunday, beginning Sunday, September 29th. Chrysostom and Augustine (CEL, 86-108) Tues., Sept. 17 Monastic Rules Augustine of Hippo, The Rule (CEL, 109-114) Thurs., Sept. 19 Benedict of Nursia, The Rule Prologue, Chap. 1, 2, and 31-59 TEST #1 Mon., Sept. 23 ECONOMIC ISSUES FROM MEDIEVAL TO MODERN TIMES Thomas Aquinas, Summa Theologica, I-II Day 1: Question 90, Of the Essence of Law, Articles 1-4 Wed., Sept. 25 Question 91, Of the Various Kinds of Law, Art. 1-4 Question 93, Of the Eternal Law, Art. 1 & 3 CEL, 115-121b Day 2: Question 94, Of the Natural Law, Art. 2-5 Fri., Sept. 27 Question 95, Of Human Law, Art. 1 & 2 CEL, 121c-126c Summa Theologica, II-II First Email Submission of Daily News Assignment: Sunday, Sept. 29th Day 3: Question 58, Of Justice, Art. 1, 8, & 12 Tues., Oct. 1 Question 66, Of Theft and Robbery, Art. 1, 2 & 7 CEL, 126c-130b Day 4: Question 77, Of Cheating, Art. 1 & 4 Thurs., Oct. 3 Question 78, Of the Sin of Usury, Art. 1-3 On Kingship, Chap. 6 (CEL, 130c-141) FREE DAYS Fri., Oct. 4 & Mon., Oct. 7 Francis Bacon, of Usury (CEL, 142-3) Wed., Oct. 9 John Locke, On Property (CEL, 144-151) MODERN THOUGHT ON ECONOMICS AND CHRISTIANITY: SELECTIONS Christianity and the Development of Capitalism Max Weber, The Protestant Ethic and the Spirit of Capitalism Fri. Oct. 11 Day 1: Ch 1, Ch 2 (13-19b, 20c-d, 22b-d, 26d-35a) Second Email Submission of Daily News Assignment: Sunday, Oct. 13th Day 2: Ch 3 (39-48a) & Ch 4 (53-55c, 58c-61a, 62b-63c, 64c-66c Tues., Oct. 15 68b-72b, 74b-d) Day 3: Ch 5 Thurs., Oct. 17 Roman Catholic Social Thought: Some Papal Documents Mon., Oct. 21 Leo XIII, Rerum Novarum, Selections (CEL, 152-158) Pius XI, Quadragesimo Anno, Selections (CEL, 159-167) “Dead Man Walking” 7 P.M. in the Little Theatre, Quad 346 Tues., Oct. 22 Class session with Sister Helen Prejean Wed., Oct. 23 Required Lecture: Sister Helen Prejean, 8 p.m., Abbey Church Thurs., Oct. 24 TEST #2 Fri., Oct. 25 Third Email Submission of Daily News Assignment: Sunday, Oct. 27th Virgil Michel, O.S.B., The Social Question Individualism, Capitalism and Justice (CEL, 168-180) Tues., Oct. 29 Required Lecture: Jagdish Bhagwati, 8 p.m. Thurs., Oct. 31 Steven B. Humphrey Theater The Lay Letter, Toward the Future: Catholic Social Thought and the U.S. Economy Day 1: The American Catholic Experience (pp. 1-24) Thurs., Oct. 31 Day 2: Seven Questions (pp. 34-52) and Poverty (58-66) Mon., Nov. 4 “Face the Facts” Poverty Simulation, 7-9 P.M., Simons 340 Wed., Nov. 5 Liberation Theology Wed., Nov. 6 Day 1: Gustavo Gutierrez, Liberation Theology (Handout) NO CLASS Fri., Nov. 8 Last Daily News Assignment Is Due Sunday, Nov. 10th Day 2: Franz Hinkelammert, Private Property (CEL, 195-207) Tues., Nov. 12 Feminism and Catholic Social Thought: Riley & Sylvester: Thurs., Nov. 14 Trouble and Beauty, (pp. vii-xi, 1-8, 11d-14, 19-22, 29-30, 38-41, 47-50) Catholic Bishops Day 1: Canadian Catholic Bishops, Mon., Nov. 18 Ethical Reflections on the Economic Crisis (CEL, 208-213) U.S. Catholic Bishops, Economic Justice for All Ethical Norms (Paragraph 61-126) RESEARCH PROJECTS: Class Presentations Day 1 Wed., Nov. 20 RESEARCH PROJECTS: Class Presentations Day 2 Fri., Nov. 22 Day 2: Policies: Employment and Poverty (Paragraph 126-215) Tues., Nov. 26 THANKSGIVING BREAK (NOVEMBER 27-DECEMBER 2) Day 3: New American Experiment (Paragraph 295-365) Tues., Dec 3 TEST # 3 Thurs., Dec. 5 Pope John Paul II, Centesimus Annus Mon., Dec.9 (Paragraphs 15, 30-32, 34-35, 40, 42-43, & 48) SUMMARY OF THE COURSE (Research Projects Due) Wed., Dec. 11 08/13/02