The Market as God

A friend pointed me to an article in the Atlantic with this title, written by the theologian, Harvey Cox. Although now 10 years old, it is right on target. Written with a heavy dose of irony, it still makes great reading. I found the concluding paragraphs an apt coda for my last post.


Disagreements among the traditional religions become picayune in comparison with the fundamental differences they all have with the religion of The Market. Will this lead to a new jihad or crusade? I doubt it.

It seems unlikely that traditional religions will rise to the occasion and challenge the doctrines of the new dispensation. Most of them seem content to become its acolytes or to be absorbed into its pantheon, much as the old Nordic deities, after putting up a game fight, eventually settledfor a diminished but secure status as Christian saints. I am usually a keen supporter of ecumenism. But the contradictions between the world views of the traditional religions on the one hand and the world view of the Market religion on the other are so basic that no compromise seems possible, and I am secretly hoping for a rebirth of polemics.

No religion, new or old, is subject to empirical proof, so what we have is a contest between faiths. Much is at stake. The Market, for example, strongly prefers individualism and mobility. Since it needs to shift people to wherever production requires them, it becomes wrathful when people cling to local traditions. These belong to the older dispensations and — like the high places of the Baalim—should be plowed under. But maybe not. Like previous religions, the new one has ingenious ways of incorporating pre-existing ones. Hindu temples, Buddhist festivals, and Catholic saints’ shrines can look forward to new incarnations. Along with native costumes and spicy food, they will be allowed to provide local color and authenticity in what could otherwise turn out to be an extremely bland Beulah Land.

There is, however, one contradiction between the religion of The Market and the traditional religions that seems to be insurmountable. All of the traditional religions teach that human beings are finite creatures and that there are limits to any earthly enterprise. A Japanese Zen master once said to his disciples as he was dying, “I have learned only one thing in life: how much is enough.” He would find no niche in the chapel of The Market, for whom the First Commandment is “There is never enough.” Like the proverbial shark that stops moving, The Market that stops expanding dies. That could happen. If it does, then Nietzsche will have been right after all. He will just have had the wrong God in mind.

Cox made a serious error, doubting (in the first paragraph quoted) that any religion would rise up against the market God. Al-Qaeda rails against Market and Western materialism, using exactly this argument in attempting to justify its jihad. Save this error of judgment, the article is on target and worth reading in its entirety.