Faithful Exchange
Faithful Exchange, David W. Opderbeck. Fortress Press (ISBN: 9781506467016) 2025.
Summary: Economic life through biblical and historic lenses with attention to current debates on capitalism versus socialism.
How might one think Christianly about economic life? How have Christians thought about these matters through the centuries? Among the contemporary systems, is one more inherently Christian? And what resources do we find in the ancient texts of the Bible that speak into our present realities? David W. Opderbeck, a professor of law at Seton Hall University has set out to address these questions in this book.
He describes this book as offering a narrative theology of economic life. After an introduction and overview, chapters 2 through 5 explore the economy of biblical narrative. Specifically, he covers the periods from creation to Babel, the patriarchs through the exodus, the judges, kings, and prophets, and then Jesus and the New Testament.
The next five chapters concern historical and contemporary discussion. Chapter 6 explores property and economics from pre-Constantine through the Reformation. Chapter 7 centers on influences contributing to American capitalism: Locke, Hobbes, Hume, Blackstone, and Smith. Then chapter 8 turns to Marxism and socialism, including Christian socialism and social teaching. Chapter 9 covers the period from the Great Depression, the postwar settlement and our more recent internet-based and global economy. Finally, the last chapter, titled “Toward a Contemporary Constructive Christian Economics” gestures toward how Christians might think about capitalism and socialism. And he draws all this narrative and historical material together.
As you can see, Opderbeck sets himself a huge task. Consequently, much of what he does is, indeed,, narrative and descriptive. The final section of each of the biblical narrative sections offer syntheses summarizing the economic material. The history up to the Reformation addresses private property in tension with a “the earth is the Lord’s perspective.” The discussion of influences upon the American experiment was fascinating, particularly in how all this failed to resolve the vexing problem of slavery, even as it laid the groundwork of commerce and capitalism. For those who conflate communism and socialism, his overview of both movements, and particularly, the Christian socialists is important in understanding the distinctions. He also shows how these challenged the exclusive emphasis on private property in seeking the economic welfare of all.
In the final “constructive” section, Opderbeck first engages a number of contemporary thinkers (Sirico, Waters, Tanner, Milbank, Pabst, and Turner). His skill as a legal scholar was on display in a section on “Critical and Constructive Threads” where integrates biblical material, economic theory, and discussions of corporate practice. Then he illustrates these threads in a case study on land and MOSFET chips.
His approach throughout is to show how the biblical hope informs, critiques, and transcends our earthly economic systems, whether capitalist or socialist. Opderbeck captures this well in his concluding words:
“Freedom for generosity and freedom from the love of money and the lust of the eyes is offered in the waters of baptism and at the table with Jesus in the community of his people. Every -ism, including capitalism and socialism, is here exposed as unworthy of devotion. In every time and place discerning the Kairos and listening to the Spirit of Christ, we are called to act with grace and wisdom, affirming but relativizing private property rights, prioritizing the poor, emphasizing fairness, and actively waiting for the coming of Jesus, when God will be all-in-all” (p. 258).
My sense is that Opderbeck, as a legal scholar, has assembled a careful set of “briefs” summarizing both biblical and historical theology with regard to economics. Then he applies them to our contemporary situation. This is a tremendous resource on Christian economic thought, concisely summarizing, without sacrificing nuance, a vast amount of material. It’s a great place to begin if one wishes to discover the landscape of Christian economic thought, and how it has addressed questions of property and profit, moving beyond slogans, sentiments, and prooftexts to substantive thought.
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Disclosure of Material Connection: I received a complimentary copy of this book from the publisher for review.