‘Transcending the Long Twentieth Century: Why We Should and How We Can

Move to a Post-Capitalist Market Economy’

Nicholas Townsend

Chapter 13 in Jeremy Kidwell & Sean Doherty (eds), Theology and Economics: A
Christian Vision of the Common Good (Palgrave Macmillan, 2015) (pp. 199-218)

This can be bought as a stand-alone piece and a preview seen here:

http://www.palgrave.com/us/book/9781137552235#aboutBook.

Abstract

The end of European Communism, 9/11, and the post-2008 global financial crisis
together set the current context for debate about economics. Townsend argues that
this gives a historic opportunity. He locates this in a longer historical narrative:
liberal capitalism is a secularized by-product of the Reformation’s ‘affirmation of
ordinary life’ (Charles Taylor), and statist socialism took over from capitalism its basic
mistake, subjection of human work and so persons to capital (John Paul II, Laborem
Exercens). The present opportunity is finally to transcend both. In practice,
development of forms of business directed to non-capitalist ends can enable this, for
example Community Interest Companies (UK) and Flexible Purpose Corporations
(USA). Moving towards a post-capitalist ‘civil’ or ‘solidary’ market economy is, by
God’s mercy, now possible.