250. Christ-centred Theology of Economics

Content

Relevance of the theology of economics in Nigeria.

Christ-centred theology of economics rooted in the doctrine of salvation.

Goes back to the disobedience of Adam and Eve.

Economic dimension of Christ’s holistic salvation.

Economy of salvation and Sacramental economy.

Christ’s economic model

Last week’s post began the discussion on the theology of economics, focusing on the relationship between economics and spirituality. As a recap, the theology of economics focuses on how religious beliefs, doctrines, and moral vision shape economic behaviour and institutions. It explores how modern market principles inherited their logic from religious foundations. In particular, it explores how ideas about God, sin and morality, virtues, and human purpose on earth influence work ethic, wealth accumulation, trade and finance, and attitudes towards poverty and equality.

Relevance of the theology of economics in Nigeria

The theology of economics is particularly relevant in Nigeria because faith and economy are intertwined. Religion continues to play a central role in Nigeria, influencing the political economy, business ethics, philanthropy, and community development. Religious leaders often shape public opinion on economic policies, thereby making theological perspectives economically significant. One recounts the interventions of the Catholic Bishops’ Conference of Nigeria in advocating for a human-centred economic reform to alleviate poverty, hunger, and inflation, and in pressuring the government to reduce spending on religious pilgrimages.

Christ-centred theology of economics rooted in the doctrine of salvation

As Christians, and particularly as Catholics, the theology of economics should be Christ-centred, that is, how Christ’s life, actions, and teachings provide a moral and spiritual foundation for economic principles.

In several places in the bible, salvation is described in economic terms. The word ‘economy’ (oikonomia in Greek) comes from two Greek words oikos (house, household) and nomos (management, law or distribution). Hence, the word ‘economy’ means household management or stewardship. The term ‘economy’ is intrinsic to theology and salvation doctrine. The Church Fathers distinguish between theologia (theology) and oikonomia (economy). As the Catechism puts it: “Theology” refers to the mystery of God’s inmost life within the Blessed Trinity and “economy” to all the works by which God reveals himself and communicates his life. Through the oikonomia the theologia is revealed to us; but conversely, the theologia illuminates the whole oikonomia” (CCC, 236).

Goes back to the disobedience of Adam and Eve

The human person, a composite of body and soul, created in the image and likeness of God (Gen 1:27), is the foundation of the relationship between economics and spirituality. Adam and Eve enjoyed a profound communion with God in the Garden of Eden. However, it was an economic matter that led to the sin of disobedience. How? The continuous human desire to acquire more. As noted last week, desire is the deeper link between economics and spirituality because human wants drive economics, while spirituality asks whether those desires align with an ordered relationship with God. Moreover, acquisition is a fundamental economic principle encompassing terms such as buying, borrowing, leasing, and receiving gifts.

God instructed Adam and Eve not to touch or eat of the fruit of the tree in the midst of the garden because doing so would lead to death (Gen 3:2-3). The desire to acquire more, to taste a fruit good for food and delight to the eyes, to gain more wisdom, to know good and evil, and to be like God (Gen 3:6) led Adam and Eve to rupture their communion with God. As noted last week, too, an economic crisis is actually a spiritual crisis of desire.

Adam and Eve’s disobedience necessitated the salvation of humanity. Salvation history, which culminated in the life and death of Christ, is grounded in God’s response to this sinfulness. As St. Paul notes, “the wages of sin is death, but the free gift of God is eternal life in Christ Jesus our Lord” (Romans 6:23). The Old Testament is rife with stories of God meeting the temporal (material and economic) and spiritual needs of the Israelites. There are several stories of divine-assisted victory in war, protection against enemies, provision of food, and the healing of the sick. Prophets Jeremiah and Ezekiel emphasised the spiritual dimension of salvation, in that God will create a new heart and a new spirit (Jeremiah 31:33; Ezekiel 36:26-27).

Economic dimension of Christ’s holistic salvation

Hence, he says, “I came that they might have life in full” (John 10:10). Fullness of life, or life in abundance, is salvation for the entire human person: body and soul. Therefore, holistic salvation encompasses both redemption from temporal needs and from sin. Consequently, Christ also never preached a spirituality detached from economic reality. He addressed issues related to economics: hunger, debt, wealth, wealth management, financial planning, almsgiving, labour, possessions, inheritance, greed, and economic oppression. 

The verb ‘ransom’ means “to deliver especially from sin or its penalty” and “to free from captivity or punishment by paying a price” (Merriam Webster). The noun ‘ransom’ means the act of ransoming or the consideration paid or demanded to release someone from captivity. Ransom money is the money demanded for the return of a captive.

Sacrifice as a means of atonement is indispensable in paying the ransom for sin, because as the book of Leviticus reads: “For the life of the flesh is in the blood; and I have given it for you upon the altar to make atonement for your souls; for it is the blood that makes atonement, by reason of the life” (Leviticus 17:11). Hence, “without the shedding of blood, there is no forgiveness of sins” (Hebrews 9:22). Therefore, salvation is a ransom because the death of Christ served to release us from the captivity of sin and death. The ransom money is the blood of Christ, which pleads more insistently than the blood of Abel (Heb 12:24). Hence, Jesus himself says that “the Son of man also came not to be served but to serve, and to give his life as a ransom for many” (Matt 20:28; Mark 10:45). Since ransom is an economic term also used by Christ, this suggests that salvation can be metaphorically described in economic terms.

Little wonder various scriptural references to salvation adopt an economic framework. They include the kingdom of heaven, being like a hidden treasure in a field, and like a merchant in search of fine pearls, wherein the actors sell all they have to buy them (Matt 13:44-46). St Paul emphasises that we were “bought with a price” (1 Cor 6: 20; 7:23). St. Peter reiterates that we were “ransomed, not with perishable things such as silver or gold, but with the precious blood of Christ, like that of a lamb without blemish or spot” (1 Peter 1:18-19). The book of Revelation reads: “I am the Alpha and the Omega, the beginning and the end. To the thirsty I will give from the fountain of the water of life without payment” (Rev 21:6; 22:17).

Economy of salvation and Sacramental economy

In light of this, the Church describes the ‘economy of salvation’ (oikonomia of salvation) as God’s saving plan carried out in history through God’s revelation and actions, culminating in Christ and then continued by the Holy Spirit in the Church (CCC, 1066). Economy of salvation is effectuated through the “sacramental economy”, that is, God’s plan for salvation as carried out through the sacraments—especially as Christ’s saving action is made present and effective in the Church through sacramental celebration (CCC, 1076). As the Compendium of the Catechism puts it, “The sacramental economy consists in the communication of the fruits of Christ’s redemption through the celebration of the sacraments of the Church, most especially that of the Eucharist, “until he comes” (1 Corinthians 11:26)” (n. 220).

Christ’s economic model

Although Jesus did not provide a systematic economic plan, Christ’s economic model appears in two ways. The first is Jesus’ actions, which serve as a model for economic action, as demonstrated by the Johannine account of the feeding of the 5,000, which illustrates centralisation and an aggregate-construct business model. The second is the framework of economic principles rooted in Christ’s life and teachings, such as his emphasis on conducting feasibility studies before initiating an enterprise. In the Church, Christ’s model also serves to regulate themes surrounding ecclesiastical goods.

The coming weeks will explore these.

May God continue to help us🙏🏾            

K’ọdị🙋🏾‍♂️