Reconstructing an Ethics of Credit in an Age of Neoliberalism
One of the most formidable socio-economic challenges which Christian communities are facing today is the growing dominance of neoliberalism. From wheat fields in Brazil to Wall Street in New York City, neoliberalism is marching on everywhere with its massive credit (or credit money). The purpose of...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2019-08-01
|
| Series: | Religions |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2077-1444/10/8/484 |
| _version_ | 1828486010612219904 |
|---|---|
| author | Ilsup Ahn |
| author_facet | Ilsup Ahn |
| author_sort | Ilsup Ahn |
| collection | DOAJ |
| description | One of the most formidable socio-economic challenges which Christian communities are facing today is the growing dominance of neoliberalism. From wheat fields in Brazil to Wall Street in New York City, neoliberalism is marching on everywhere with its massive credit (or credit money). The purpose of this paper is to address a key structural injustice of neoliberalism—the deepening colonization of “social capital” by “financial capital.” Since the 1980s, a new economic process known as “financialization” has structurally changed the global economic system entailing an extreme income and wealth gap between the haves and the have nots. It has also rendered a countless number of ordinary people vulnerable to various types of debt entrapment while destroying the environment on a global scale. Behind all these forms of social and natural disintegration lies a crucial neoliberal apparatus fueled by credit. This paper engages in such problems by attempting to reconnect the lost link between social capital and financial capital. In doing so, it first analyzes the genealogical origin of the separation between financial capital and social capital. The author then comes up with ethical principles to re-anchor financial capital in social capital through a critical and interdisciplinary exploration. |
| first_indexed | 2024-12-11T09:24:08Z |
| format | Article |
| id | doaj.art-bb8bc90402c74d5d99883e9ed05c685f |
| institution | Directory Open Access Journal |
| issn | 2077-1444 |
| language | English |
| last_indexed | 2024-12-11T09:24:08Z |
| publishDate | 2019-08-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Religions |
| spelling | doaj.art-bb8bc90402c74d5d99883e9ed05c685f2022-12-22T01:13:11ZengMDPI AGReligions2077-14442019-08-0110848410.3390/rel10080484rel10080484Reconstructing an Ethics of Credit in an Age of NeoliberalismIlsup Ahn0Department of Philosophy, North Park University, Chicago, IL 60625, USAOne of the most formidable socio-economic challenges which Christian communities are facing today is the growing dominance of neoliberalism. From wheat fields in Brazil to Wall Street in New York City, neoliberalism is marching on everywhere with its massive credit (or credit money). The purpose of this paper is to address a key structural injustice of neoliberalism—the deepening colonization of “social capital” by “financial capital.” Since the 1980s, a new economic process known as “financialization” has structurally changed the global economic system entailing an extreme income and wealth gap between the haves and the have nots. It has also rendered a countless number of ordinary people vulnerable to various types of debt entrapment while destroying the environment on a global scale. Behind all these forms of social and natural disintegration lies a crucial neoliberal apparatus fueled by credit. This paper engages in such problems by attempting to reconnect the lost link between social capital and financial capital. In doing so, it first analyzes the genealogical origin of the separation between financial capital and social capital. The author then comes up with ethical principles to re-anchor financial capital in social capital through a critical and interdisciplinary exploration.https://www.mdpi.com/2077-1444/10/8/484social capitalfinancializationfinancial capitalethics of creditneoliberalismcolonizationChristian ethics |
| spellingShingle | Ilsup Ahn Reconstructing an Ethics of Credit in an Age of Neoliberalism Religions social capital financialization financial capital ethics of credit neoliberalism colonization Christian ethics |
| title | Reconstructing an Ethics of Credit in an Age of Neoliberalism |
| title_full | Reconstructing an Ethics of Credit in an Age of Neoliberalism |
| title_fullStr | Reconstructing an Ethics of Credit in an Age of Neoliberalism |
| title_full_unstemmed | Reconstructing an Ethics of Credit in an Age of Neoliberalism |
| title_short | Reconstructing an Ethics of Credit in an Age of Neoliberalism |
| title_sort | reconstructing an ethics of credit in an age of neoliberalism |
| topic | social capital financialization financial capital ethics of credit neoliberalism colonization Christian ethics |
| url | https://www.mdpi.com/2077-1444/10/8/484 |
| work_keys_str_mv | AT ilsupahn reconstructinganethicsofcreditinanageofneoliberalism |