Development of the Theology of the Neoliberalism

Development of the Theology of the Neoliberalism

1. The General Belief

Neoliberalism’s theology is based on the assumption that humans are rational, self-interested creatures able to make decisions in their own best interests. As a consequence of such a belief, it is concluded that government involvement in the economy is both unneeded and ineffective. Instead, the market should be encouraged to operate as freely as possible with minimum government involvement. Deregulation, tax cuts for the rich, and cuts to social welfare programs have been rationalized using this religion (Hannah). It’s also been used in the argument against government action on climate change. Neoliberalism has been chastised for expanding inequality and neglecting to serve the needs of society’s most vulnerable citizens.

2. The people involved

The Catholics were involved in the larger part of identifying the relevance of neoliberalism in society. The origin of neoliberalism theology could be dated directly to German economist Wilhelm Röpke’s work. Röpke was a significant player within the “Ordoliberal” strain of thought, which claimed that for a free market economy to work efficiently, it required to be founded on a robust system of rules and regulations. Several other scholars, particularly Austrian economist Friedrich Hayek and American economist Milton Friedman, embraced and improved Röpke’s ideas (Hannah). Both Hayek and Friedman were significant contributors to the formation of the “Chicago School” of economics, which supported a free-market approach to policymaking. The religion of neoliberalism is based on the opinions of Röpke, Hayek, and Friedman, who believe that the free market is the best way to solve economic constraints.

3. The divisions were created

Neoliberalism’s doctrine has produced disagreements inside the Christian church. On the one hand, some people feel the free market is the preferred approach to foster economic success, while others think the free market is destructive to society. Some feel that government involvement in the economy is essential to uphold the poor and create economic equality (Hannah). Additionally, on the other side, plenty feels that neoliberalism is a beneficial factor that can help people worldwide. Finally, some feel that neoliberalism is a force of evil killing the world. These schisms have sparked fierce debate over the acceptability n implementation of the strategies presented in neoliberalism’s doctrines or the unacceptability of the very doctrines.

4. My General Thought

I agree with the implementation of neoliberalism. Neoliberal capitalism is a political and economic concept that holds that laissez-faire capitalism, or free-market economics, is the optimal approach to creating socioeconomic success and development. The concept is predicated on the premise that if businesses and individuals are left to their own devices, they can gradually develop goods and services that many others seek and need, resulting in a vibrant economy (Anthony). It has been advocated for by institutions such as the IMF and the World Trade Organization, as well as individuals such as Ronald Reagan, Margaret Thatcher, and Bill Clinton. Yet, despite its reputation, many groups have critiqued neoliberalism for growing inequality and polluting the earth.

Neoliberalism is an economics and political science approach that stresses the market’s role in producing financial and social opportunities. Since the 1970s, neoliberalism has significantly influenced economists, politics, and sociological theories. It’s been utilized in various financial, social, and societal programs, including deregulated, privatized, and free markets (Anthony). Neoliberalism has been accused of deepening inequality and causing economic turmoil, but adherents believe it has enhanced economic efficiency and opportunity. 

Work Cited

Hannah, John D. “Invitation to Church History: World: The Story of Christianity.” Google Books, Kregel Academic, 2019, books.google.co.ke/books/about/Invitation_to_Church_History_World.html?id=9GLOsgEACAAJ&redir_esc=y.

Anthony. “Biblical Economic Policy: A Useful Guide to a Christian Perspective on Economics.” Dallas Baptist University, 2021, www.dbu.edu/news/2021/07/biblical-economic-policy-a-useful-guide-to-a-christian-perspective-on-economics.html.