Faith & Economics - Number 61/62 - Spring/Fall 2013 - Pages 33-53

Envy in the Market Economy:

Sin, Fairness, and Spontaneous (Dis)Order
Jordan J. Ballor
Acton Institute

Victor V. Claar
Henderson State University

Abstract: This paper explores the problem of envy (“sadness at another’s

good”) from both theological and economic perspectives. The theological
analysis helps show why envy is a perennial feature of human existence and
DQRQJRLQJSUREOHPIRURUGHUHGDQGÀRXULVKLQJVRFLDOOLIH7KHHFRQRPLF
analysis examines various attempts to come to grips with envy and its
implications, showing the complexity of envy’s tractability (or lack thereof),
and the resulting complications for attempts to minimize or eliminate
envy through public policy initiatives aimed at inequalities resulting from
market outcomes. The authors conclude that there are two variables at
play in the calculus of envy: our sadness and another’s good. Envy could
theoretically be reduced via the destruction of some goods, which often is
WKHXQLQWHQGHGUHVXOWRISROLF\VROXWLRQV%XWDPRUHVRFLDOO\EHQH¿FLDODQG
morally responsible course of action is to focus on the economic, spiritual,
and cultural causes of envy and their corresponding remedies. JEL: A13,
D31, D63, H11. Keywords: envy, allocation mechanisms, justice, fairness,
economic growth.

Authors’ Note::HWKDQN%U\DQ&DSODQ*DU\$:DJQHU<RXQJ%DFN
&KRL '\ODQ 3DKPDQ DQG 9DOGLV *ULQVWHLQV IRU KHOSIXO FRPPHQWV DQG
FRQYHUVDWLRQV 7ZR DQRQ\PRXV UHIHUHHV SURYLGHG XVHIXO LQSXW :H
DSSUHFLDWHDWWHQGHHVDWRXUVHVVLRQDWWKHPHHWLQJVRIWKH$VVRFLDWLRQ
RI3ULYDWH(QWHUSULVH(GXFDWLRQ1DVVDX7KH%DKDPDVDQQXDODXGLHQFHV
DW $FWRQ 8QLYHUVLW\ SDUWLFLSDQWV DW WKH  PHHWLQJ RI WKH $UNDQVDV
&ROOHJH7HDFKHUVRI(FRQRPLFVDQG%XVLQHVVDQGHYHU\RQHZKRMRLQHG
XVIRU$FWRQRQ7DSLQ$SULO:HDOVRH[SUHVVRXUDSSUHFLDWLRQWR
DWWHQGHHVDWWKH3ROLVK$PHULFDQ)RXQGDWLRQIRU(FRQRPLF5HVHDUFKDQG
(GXFDWLRQ¶V/LEHUW\:HHNHQG&]HV]yZ3RODQG2FWREHULQFOXGLQJ
3DZHá 7RERáD DQG 7RPDV] 7RNDUVNL ,Q DGGLWLRQ ZH DUH JUDWHIXO IRU
SDUWLFLSDQWVLQWKH:HHNHQG([SORULQJ/LEHUW\5KRGHV&ROOHJH)HEUXDU\
VSRQVRUHGE\WKH,QVWLWXWHIRU+XPDQH6WXGLHV)LQDOO\ZHDSSUHFLDWH
WKHDXGLHQFHDWWKH$PHULFDQ(QWHUSULVH,QVWLWXWH$(,6HSWHPEHU
DVZHOODV(ULF7HHWVHODQG$(,¶V3URMHFWRQ9DOXHV &DSLWDOLVP'HYRQD
)ODQLJDQSURYLGHGH[FHOOHQWUHVHDUFKDVVLVWDQFH

© 2013 Association of Christian Economists

34 FAITH & ECONOMICS

2
QHRIWKHXQLTXHLQVLJKWVLQWRKXPDQQDWXUHWKDW&KULVWLDQWKHRORJ\
SURYLGHVLVWKHWHDFKLQJWKDWHDFKRIXVKDVVLQQHG5RPEXW
WKDWEHFDXVHRIWKHVDYLQJJUDFHRI-HVXV&KULVW&KULVWLDQVDUHWR
OHDGOLYHVRULJLQDWLQJIURPDSULQFLSOHRIRXUUHQHZHGQDWXUH5DWKHUWKDQ
UHPDLQFDSWLYHWRVLQIXOQHVVZHVKRXOG²DVWKHDSRVWOH3DXOH[KRUWV²³QR
ORQJHUEHVODYHVWRVLQ´5RP1,97KHUHLVDVHQVHLQZKLFKVLQ²
ZKHWKHUODUJHRUVPDOO²LVDOZD\VWKHVDPHVLQFRQVWLWXWHVIDOOLQJVKRUWRI
*RG¶VVWDQGDUGRIFRQGXFWWRZDUG+LPWRZDUGRXUVHOYHVDQGWRZDUGRQH
DQRWKHUOHDGLQJWRGHDWK<HWLQFKXUFKWUDGLWLRQVHYHQVLQVVWDQGDORQHDV
HVSHFLDOO\SHULORXVWRRXUVRXOV*UHHGOXVWJOXWWRQ\VORWKHQY\DQJHU
DQG SULGH²WKHVH DUH WKH VHYHQ GHDGO\ VLQV $OVR NQRZQ DV WKH FDSLWDO
YLFHVRUWKHFDUGLQDOVLQVWKHVHVHYHQDUHFRQVLGHUHG³GHDGO\´E\VRPH
WKHRORJLFDO WUDGLWLRQV EHFDXVH WKH\ DERYH DOO RWKHUV DUH VR WKRURXJKO\
FRUURVLYHWRWKHKXPDQSHUVRQWKDWRQFHWKH\JDLQDIRRWKROGLQWKHOLIHRI
D&KULVWLDQWKH\SXWDWJUHDWULVNKLVSURVSHFWVRIHWHUQDOUHVW
$PRQJWKHVHVHYHQKRZHYHUHQY\/DWLQinvidiaLVXQLTXHRQVHYHUDO
FRXQWV)RUH[DPSOHXQOLNHWKHRWKHUVHQY\LVWKHRQO\GHDGO\VLQWKDWIDLOV
WRSURYLGHHYHQDPRPHQW¶VSOHDVXUH$V-RVHSK(SVWHLQZULWHV³2I
WKHGHDGO\VLQVRQO\HQY\LVQRIXQDWDOO´S3UHVXPDEO\WKHDOOXUHRI
VLQVVXFKDVOXVWRUJOXWWRQ\OLHVLQWKHWHPSWDWLRQRIVRPHIRUPRIVHQVXDO
SOHDVXUHKRZHYHUÀHHWLQJ(YHQDQJHUFDQSURYLGHDPRPHQWDU\YLVFHUDO
VXUJHRIDGUHQDOLQHWKDWPD\QRWEHDOWRJHWKHUXQSOHDVDQW7KLVWHPSRUDU\
DQGWUDQVLWRU\SOHDVXUHLVLQSDUWZKDWOHG$XJXVWLQH>@LQKLV
ConfessionsWRIDPRXVO\HQWUHDW*RG³*UDQWPHFKDVWLW\DQGFRQWLQHQFH
EXWQRW\HW´
 %XW HQY\ E\ FRQWUDVW LV QHYHU SOHDVDQW²QRW HYHQ PRPHQWDULO\ $V
7KRPDV$TXLQDV>@GH¿QHGLWLVKLVSumma TheologiaeHQY\
LV LQ IDFW ³VRUURZ IRU DQRWKHU¶V JRRG´ ,,,, 8QGHUVWRRG WKXV DV
³VRUURZ´HQY\GRHVQRWQHFHVVDULO\EHDUDQ\RXWZDUGPDQLIHVWDWLRQ$Q\
WLPHWKDWZHH[SHULHQFHDIHHOLQJRIJULHIDWWKHJRRGRIDQRWKHUZHDUH
IHHOLQJHQY\¶VVLQIXOVSLWHIXOSDQJV$QGWKHREMHFWVRIRXUHQY\QHHGQRW
NQRZRIRXULQQHUWRUPHQW
 *LYHQWKHUHDOLWLHVRIKXPDQVRFLDOOLIHWKHWHPSWDWLRQWRHQY\FRQVWDQWO\
EHFNRQV7KHUHLVDOZD\VVRPHRQHLQRXUIUDPHRIUHIHUHQFHZKRLVEHWWHU
RIILQVRPHGLPHQVLRQWKDQZHFRQVLGHURXUVHOYHVWREH$GHSDUWPHQWDO
FROOHDJXH PD\ HDUQ WKH HQGRZHG FKDLU ZH KDG KRSHG WR ZLQ$ VFKRRO
FKXPPD\PDUU\WKHZRPDQZHKDYHDOZD\VORYHG2XUQHLJKERUVPD\
KDYHDODUJHUKRPHRUWDNHPRUHOX[XULRXVYDFDWLRQVWKDQZHGR2UZH
PD\ VLPSO\ ZLVK ZH ZHUH DV WDOHQWHG KDQGVRPH VPDUW RU IXQQ\ DV D
IULHQGPLJKWEH
 Ballor & Claar 35

 %XW WKH SDUWLFXODU VRXUFHV RI RQH¶V HQY\ DUH LQQXPHUDEOH ,QGHHG
DQ\WLPHZHSHUFHLYHVRPHRQHWREHEHWWHURIIWKDQZHVHHRXUVHOYHVLQDQ\
UHJDUGWKDWPDWWHUVWRXVZHZLOOEHWHPSWHGLQWRWKHSDLQIXOVLQRIHQY\:H
DUHLQVRPHGHHSVHQVHDVIDOOHQKXPDQEHLQJVhomo invidiosusHQY\LQJ
EHLQJV$V+HOPXW6FKRHFNZULWHVZHFDQEHH[WUHPHO\FUHDWLYH
LQRXUHQY\LQJ³$Q\RQHZKRKDVDSURSHQVLW\IRUHQY\ZKRLVGULYHQE\
WKDWHPRWLRQZLOODOZD\VPDQDJHWR¿QGHQYLDEOHTXDOLWLHVRUSRVVHVVLRQV
LQRWKHUVWRDURXVHKLVHQY\´S$QGKHIXUWKHUREVHUYHVULJKWO\WKDWLI
HQY\LVDJHQXLQHIHDWXUHRIKXPDQH[LVWHQFHWKHQRXUDQWKURSRORJ\PXVW
DFFRXQWIRULWVH[LVWHQFH³(QY\LVRQHRIWKHLQHYLWDEOHDFFRPSDQLPHQWV
RI KXPDQ VRFLDO OLIH DQG QR DQWKURSRORJ\ WKDW HYDGHV WKLV SUREOHP FDQ
EHUHJDUGHGDVFRPSOHWH´S-XVWDVWKHDSRVWOH3DXOGHVFULEHVVLQIXO
KXPDQEHLQJVDVRQHVZKR³LQYHQWZD\VRIGRLQJHYLO´5RP1,9
VRWRRGRZHLQYHQWZD\VDQGRFFDVLRQVIRUHQY\LQJ
 %HFDXVH HQY\ LV PLVHUDEO\ SDLQIXO DQG ORQHO\ WHQGLQJ WR LVRODWH DQG
DOLHQDWHXVIURPRWKHUVRXUHIIRUWVWRDOOHYLDWHRXUSDLQFDQOHDGXVLQWR
DOHJLRQRIRWKHUVLQV(QY\PD\EHJLQDVDSULYDWHVLQEXWWRRRIWHQLW
KDV YHU\ VHULRXV DQG VRFLDO FRQVHTXHQFHV )RU H[DPSOH$TXLQDV QRWHV
WKDW ULJKWHRXV LQGLJQDWLRQ LH WHOOLQJ RXUVHOYHV WKDW DQRWKHU¶V JRRG LV
XQMXVW LV DOVR VLQIXO LQDVPXFK DV LW LV WDQWDPRXQW WR TXHVWLRQLQJ *RG¶V
RZQ SURYLGHQWLDO ZLVGRP )HHOLQJV RI HQY\ FDQ VLPLODUO\ OHDG XV LQWR
PDOHYROHQWDFWLRQVPLVHUDEOHDWWHPSWVWRNQRFNGRZQ²DWOHDVWDQRWFK²
WKH REMHFWV RI RXU HQY\ (QY\ LV LQ IDFW RIWHQ XQGHUVWRRG DV WKH VRXUFH
RI &DLQ¶V DQJHU DQG WKH UHVXOWLQJ IUDWULFLGH *HQ  DQG ZH FDQ
WKHUHIRUHVHHKRZGHYDVWDWLQJWKHVRFLDOFRQVHTXHQFHVRIDFWLRQVDULVLQJ
IURPWKHHQYLRXVSHUVRQFDQEH,QDSDLQWLQJE\3LHWHU%UXJHOWKH(OGHU
IURPWKHHDUO\PRGHUQSHULRGHQY\LQLWVGHIRUPDWLRQRIKXPDQ
VRFLHW\LVXQGHUVWRRGWREH³DKRUULEOHPRQVWHUDPRVWGUHDGIXOSODJXH´
Invidia, horrendum monstrum, saevissima pestis7KHYLFHRIHQY\DULVHV
VSRQWDQHRXVO\ ZLWKLQ IDOOHQ KXPDQ EHLQJV LQ ZKRP ³HYHU\ LQFOLQDWLRQ
RIWKHKXPDQKHDUWLVHYLOIURPFKLOGKRRG´*HQ1,9UHVXOWLQJLQ
GLVRUGHUDQGVRFLDOLQVWDELOLW\
 7KXVVRPHRFFDVLRQVIRUHQY\FDQQRWEHDYRLGHG)RULQVWDQFHZHDOO
GLIIHULQRXULQLWLDOHQGRZPHQWVRIWUDLWVVXFKDVORRNVLQQDWHWDOHQWVDQG
LQWHOOLJHQFHDQGWKRVHWKLQJVDUHHLWKHUGLI¿FXOWRULPSRVVLEOHWRFKDQJH
%XWSHUKDSVLWPLJKWEHZLVHWRZDUGRIIRFFDVLRQVIRUHQY\LQFLUFXPVWDQFHV
ZKHUH LW PLJKW WKHRUHWLFDOO\ EH SRVVLEOH$IWHU DOO LI VRPHRQH¶V UHODWLYH
VXFFHVVZLOOOHDGLQHYLWDEO\WRHQYLRXVWHPSWDWLRQSHUKDSVVRFLHW\VKRXOG
DWWHPSWWRDUUDQJHLWVLQVWLWXWLRQVVRWKDWRXWFRPHVDUHHQY\IUHH²RUDW
OHDVWUHODWLYHO\VR
36 FAITH & ECONOMICS

 :KLOH ZH UHPDLQ RSHQ WR WKH VPDOO WKHRUHWLFDO SRVVLELOLW\ WKDW VRFLDO
GHPRFUDF\PD\KDYHWKHFDSDFLW\WRSXUJHHQY\IURPHFRQRPLFRXWFRPHV
WKURXJK SROLF\ PHDVXUHV LQ WKLV SDSHU ZH DUJXH²IURP WKHRORJLFDO
HFRQRPLF DQG KLVWRULFDO SHUVSHFWLYHV²WKDW VXFK HIIRUWV ZRXOG EH
H[WUHPHO\VKRUWVLJKWHGDQGZRXOGOHDGLQHYLWDEO\WRWUDJLFUHVXOWV,IRXU
HIIRUWVWRSXUJHWKHVLQRIHQY\PHUHO\H[FKDQJHWKHSRVVLELOLW\RIHQY\
IRU JXDUDQWHHG PRUDO RXWUDJH DW WKH SURFHVV UHTXLUHG WR SXUJH LW²ZKLOH
VLPXOWDQHRXVO\VKULQNLQJORQJWHUPSURVSHFWVIRUHFRQRPLFÀRXULVKLQJ²
WKHQ WKDW LV D PLVHUDEOH EDUJDLQ ,Q IDFW WKH UHDOLW\ RI HQY\ DV D YLFH
FRPSOLFDWHV WKH SRWHQWLDO HIIHFWLYHQHVV RI DQ\ SURSRVHG SROLF\ VROXWLRQ
,QVRIDUDVHQY\LVDGHIHFWRIFKDUDFWHUWKHQSROLF\SURSRVDOVVWULNHPHUHO\
DWWKHV\PSWRPVRIWKDWGHIHFWUDWKHUWKDQLWVXQGHUO\LQJURRWFDXVH
 ,QPDQ\FDVHVXVLQJVRFLDOLQVWLWXWLRQVWRHQVXUHWKDWQRRQHIHHOVWRR
VRUURZIXO RYHU WKHLU UHODWLYH VKRUWFRPLQJV PD\ SURYH HLWKHU GLI¿FXOW RU
XQVHHPO\ )RU H[DPSOH LW PD\ SURYH GLI¿FXOW LQGHHG WR KHOS WKH OHVV
DWWUDFWLYHOHVVLQWHOOLJHQWRUOHVVDWKOHWLFQRWIHHOVRUURZIXOLQFRPSDULVRQ
WRRWKHUVLQWKHLUUHIHUHQFHJURXSV.XUW9RQQHJXWSDLQWVDGLVWXUELQJ
SRUWUDLWRIVXFKDZRUOGLQKLVIXWXULVWLFVKRUWVWRU\³+DUULVRQ%HUJHURQ´
,Q9RQQHJXW¶VWDOHWKHEHDXWLIXOWKHLQWHOOLJHQWWKHPXVLFDODQGDQ\RQH
HOVH QDWXUDOO\ JLIWHG LQ DQ\ ZD\ KDV EHHQ UHGXFHG WR PHGLRFULW\ E\ WKH
QDWLRQ¶V +DQGLFDSSHU *HQHUDO )RU H[DPSOH WKH EHDXWLIXO ZHDU PDVNV
DQGWKHJUDFHIXODUHLQFKDLQV(YHQ¿IW\\HDUVDIWHULWVLQLWLDOSXEOLFDWLRQ
9RQQHJXW¶VRSHQLQJOLQHVDUHFKLOOLQJ
7KH \HDU ZDV  DQG HYHU\ERG\ ZDV ¿QDOO\ HTXDO
7KH\ ZHUHQ¶W RQO\ HTXDO EHIRUH *RG DQG WKH ODZ WKH\
ZHUH HTXDO HYHU\ ZKLFK ZD\ 1RERG\ ZDV VPDUWHU WKDQ
DQ\ERG\ HOVH QRERG\ ZDV EHWWHU ORRNLQJ WKDQ DQ\ERG\
HOVHQRERG\ZDVVWURQJHURUTXLFNHUWKDQDQ\ERG\HOVH
S
 7KRXJK9RQQHJXW SDLQWV D GDUN SRUWUDLW RI ZKDW DQ HQY\IUHH VRFLHW\
PLJKW ORRN OLNH FRQWHPSRUDU\ :HVWHUQ VRFLHW\ VWLOO VHHPV PDQ\ \HDUV
DZD\ IURP WKH KDQGLFDSSLQJ RI RXU EHVW DQG EULJKWHVW LQ D VRFLDO HIIRUW
WRPDNHVXUHWKDWWKHUHVWRIXVGRQRWIHHOWRRHQYLRXV:HFRQWLQXHWR
FHOHEUDWH1DWLRQDO0HULW)LQDOLVWV.HQQHG\&HQWHUKRQRUHHVDQGZLQQHUV
RI WKH 1REHO 3UL]H :H HYHQ VHQG WKH EHVW$PHULFDQ IRRWEDOOHUV WR WKH
1DWLRQDO)RRWEDOO/HDJXH¶V+DOORI)DPH
 )RU WKH PRVW SDUW ZH FHOHEUDWH WKH DFFRPSOLVKPHQWV RI RXU EHVW DQG
EULJKWHVW<HW$OH[LV GH7RFTXHYLOOH  >@ GHWHFWHG WKH GDQJHUV
LQKHUHQWLQGHPRFUDF\REVHUYLQJWKDWWKHUHDUHWZRNLQGVRIPRWLYDWLRQV
IRUHTXDOLW\³7KHUHLVLQIDFWDPDQO\DQGOHJLWLPDWHSDVVLRQIRUHTXDOLW\
 Ballor & Claar 37

WKDWLQFLWHVPHQWRZDQWWREHVWURQJDQGHVWHHPHG7KLVSDVVLRQWHQGVWR
HOHYDWHWKHVPDOOWRWKHUDQNRIWKHJUHDW´KHZULWHV³%XWLQWKHKXPDQ
KHDUWDGHSUDYHGWDVWHIRUHTXDOLW\LVDOVRIRXQGWKDWOHDGVWKHZHDNWRZDQW
WREULQJWKHVWURQJGRZQWRWKHLUOHYHODQGWKDWUHGXFHVPHQWRSUHIHUULQJ
HTXDOLW\LQVHUYLWXGHWRLQHTXDOLW\LQOLEHUW\´YROS
 ,QGHHG FHOHEUDWLRQ LV TXLFNO\ UHSODFHG E\ FULWLFLVP IRU PDQ\ ZKHQ
FRQVLGHULQJWKH¿QDQFLDOUHZDUGVWKDWIROORZIURPRXULQGLYLGXDOKXPDQ
SXUVXLWV0DQ\RIXVORYH1)/IRRWEDOODQGKDSSLO\KDQGRYHUWKH¿QDQFLDO
IUXLWV RI RXU RZQ ODERUV IRU WKH SULYLOHJH RI ZDWFKLQJ RXU EHVW DWKOHWHV
FRPSHWH$WWKHVDPHWLPHH[DPSOHVDERXQGRIPDUNHWFULWLFVZKRFKDUJH
WKDWIRRWEDOOSOD\HUVPDNHWRRPXFKPRQH\6LPLODUFULWLFLVPLVOHYHOHG
DW RWKHUV WR ZKRP PDUNHW IRUFHV DZDUG ³WRR PXFK´ VXFK DV EXVLQHVV
H[HFXWLYHV RU VSRUWV FRDFKHV ZKLOH SXEOLF VHUYDQWV OLNH VFKRRO WHDFKHUV
PDNH³WRROLWWOH´LQFRPSDULVRQ
 ,Q IDFW PRVW PDUNHW RXWFRPHV DUH IDLU DW OHDVW LQ D FRPPRQVHQVH
IDVKLRQ WKH PDUNHW V\VWHP LV DIWHU DOO E\ GH¿QLWLRQ D PHULWRFUDF\ LQ
ZKLFK UHZDUGV DFFUXH WR WKRVH ZKR FRQWULEXWH VRPHWKLQJ RI YDOXH <HW
FRUUHODWLYHO\ PDUNHWV FRQVWDQWO\ JHQHUDWH XQHTXDO RXWFRPHV JUHDWHU
UHZDUGVDFFUXHWRWKRVHZKRJHQHUDWHJUHDWHUYDOXH²RIWHQIROORZLQJIURP
WKHLUQDWXUDOWDOHQWVSUHYLRXVO\DFTXLUHGUHVRXUFHVDSSHWLWHVIRUULVNZRUN
HIIRUW RU PHUH KDSSHQVWDQFH 7KXV SUHFLVHO\ EHFDXVH PDUNHW RXWFRPHV
ZLOOQHYHUEHHTXDORXWFRPHVPDUNHWRXWFRPHVFUHDWHRFFDVLRQVIRUHQY\
 7R FULWLFV RI PDUNHWV WKH SULPDU\ GULYHU RI HQY\ LV WKDW H[HFXWLYHV
HQWUHSUHQHXUVDQGLQYHVWRUVDUHVHOIVHUYLQJDQGGRZQULJKWJUHHG\²WRR
JUHHG\VKDPHOHVVO\JUHHG\$QGLIZHFRXOG¿QGVRPHZD\WROLPLWZKDW
SRUWLRQ RI RXU HDUQLQJV ZH DUH HDFK SHUPLWWHG WR NHHS WKHQ WKH ZRUOG
ZRXOGEHDKDSSLHUDPRUHKXPDQHDQGDOHVVHQYLRXVSODFH
 :KLOH WKH SHGDJRJLFDO FKDUDFWHU RI WKH ODZ LV D VWDQGDUG WHQHW RI WKH
&KULVWLDQPRUDOWUDGLWLRQVRWRRLVWKHUHFRJQLWLRQRIWKHOLPLWHGHI¿FDF\
RIH[WHUQDOFRQVWUDLQWV3RVLWLYHODZPD\UHVWUDLQH[WHUQDOPDQLIHVWDWLRQV
RI HYLO DQG HYHQ WHDFK WKDW VXFK DFWV DQG GLVSRVLWLRQV DUH VLQIXO EXW LW
GRHVQRWKDYHWKHSRZHULQDQGRILWVHOIWRLQFXOFDWHYLUWXHLQWKHGHHSHVW
VHQVH7KHUH LV LQ WKLV ZD\ D UHFRJQLWLRQ RI WZR NLQGV RI YLUWXH LQ WKH
&KULVWLDQWUDGLWLRQDFLYLFYLUWXHWKDWFRUUHVSRQGVWRWKHH[WHUQDOOHJDO
RUGHU DQG  WUXH YLUWXH LQ D PRUH DXWKHQWLF DQG IRXQGDWLRQDO VHQVH
UHIHUULQJ WR WKH VSLULWXDO UHDOLWLHV LQWHUQDO GLVSRVLWLRQV DQG KDELWV 7KH
IRUPHUDSSHDUDVYLFHVUHODWLYHWRWKHODWWHUHYHQLI³VSOHQGLG´DQG\HWGR
UHSUHVHQWVRPHWKLQJEHWWHUWKDQFLYLFYLFHV-HQQLIHU$+HUGWH[SORUHVWKH
GLDOHFWLFEHWZHHQWKHVHWZRNLQGVRIYLUWXHLQKHUUHFHQWVWXG\RQ
WKHKLVWRULFDO&KULVWLDQLQWHUDFWLRQZLWK³SDJDQ´YLUWXH
38 FAITH & ECONOMICS

 :KLOHPDQ\&KULVWLDQVPLJKWEHWHPSWHGWRVXJJHVWWKDWXVLQJVRFLDO
GHPRFUDF\ WR PDNH RXWFRPHV PRUH HTXDO FRXOG EH D JRRG WKLQJ LI LW
UHGXFHVRFFDVLRQVIRUHQY\ZHLQVWHDGLQWHJUDWHWKHRORJLFDODQGHFRQRPLF
SHUVSHFWLYHVWXUQLQJHVSHFLDOO\RQWKHGLVWLQFWLRQEHWZHHQFLYLFDQGWUXH
YLUWXHWRDUJXHDJDLQVWVXFKSROLFLHVVXFKDQDSSURDFKDGGUHVVHVDODFXQDH
LQ WKH OLWHUDWXUH WKDW KDV ODUJHO\ NHSW QRUPDWLYH WKHRORJLFDO DQG HWKLFDO
UHÀHFWLRQDSDUWIURPVRFLDOVFLHQWL¿FUHVHDUFK

1. Theological and Historical Perspectives on Envy

7KH LGHQWL¿FDWLRQ RI HQY\ DV RQH RI WKH ³VHYHQ GHDGO\ VLQV´ LV ORFDWHG
ZLWKLQ WKH ORQJ WUDGLWLRQ RI &KULVWLDQ PRUDO UHÀHFWLRQ ZKLFK LV LQ WXUQ
UHODWHGWRWKHPRUDOUHÀHFWLRQFKDUDFWHULVWLFRIDQWLTXLW\&KDUOHV$V
5HEHFFD.RQ\QG\N'H<RXQJQRWHVLQKHU¿QHVWXG\RIWKHFDSLWDO
YLFHV WKH HDUO\ PRQDVWLFV EHJDQ WR FRGLI\ DQG FROODWH OLVWV RI NH\ VLQV
DQG³3RSH*UHJRU\,µWKH*UHDW¶SDUHGWKHOLVWRIFDSLWDOYLFHV
GRZQIURPHLJKWWRVHYHQWKHELEOLFDOQXPEHUV\PEROL]LQJFRPSOHWHQHVV
E\VXEVXPLQJVORWKXQGHUVDGQHVVPDNLQJHQY\DVWDQGDUGPHPEHUDQG
VHSDUDWLQJ SULGH RXW DV WKHLU URRW´ S  )URP WKDW SRLQW IRUZDUG WKH
OLVWUHPDLQHGUHODWLYHO\VWDEOHDQGSURYLGHGDVWDQGDUGZD\RIWUHDWLQJWKH
YLFHVDQGTXLWHRIWHQWKHLUFRUUHVSRQGLQJYLUWXHV
 7KRPDV$TXLQDVDVZHKDYHQRWHGGH¿QHGHQY\LQWHUPVRI³VRUURZ´
RUJULHIDWWKHJRRGRIDQRWKHU,QWKLVKHQRWHVH[SOLFLWO\-RKQRI'DPDVFXV
 F  ZKR LQ WXUQ IROORZV$ULVWRWOH FORVHO\ LQ GHVFULELQJ
HQY\ DV ³SDLQ RYHU WKH JRRG IRUWXQH RI RWKHUV´  $TXLQDV 
>@,,,,KHOSIXOO\GHYHORSVIRXUZD\VLQZKLFKZHPLJKWJULHYH
WKHJRRGRIDQRWKHUWKUHHRIZKLFKDUHQRWFRQVLGHUHGWKHYLFHRIHQY\
SURSHUO\VSHDNLQJ)LUVWKHVD\VWKHUHLVWKHFDVHZKHQ³DPDQJULHYHVIRU
DQRWKHU¶VJRRGWKURXJKIHDUWKDWLWPD\FDXVHKDUPHLWKHUWRKLPVHOIRU
WRVRPHRWKHUJRRG´7KLVFDVHLVQRWHQY\SURSHUVLQFHLWGRHVQRWDULVH
RXW RI D YLFLRXV GLVSRVLWLRQ EXW WKH VDGQHVV LV D UHVSRQVH WR WKH GDQJHU
RI SRZHU WKDW PLJKW EH XVHG GHVWUXFWLYHO\ 7KH VHFRQG VHQVH $TXLQDV
GHVFULEHVLVGLVWLQJXLVKHGLQWKHDWWLWXGHWKDWUHVXOWVIURPRXUVRUURZ,Q
WKLVFDVHZHUHFRJQL]HWKHJRRGRIDQRWKHUDQGRXURZQODFNRIWKDWJRRG
DQGWKHIRFXVLVRQRXUODFNDQGRXUGLVSOHDVXUHLVRQRXURZQDEVHQFHRI
VRPHJRRGUDWKHUWKDQRQWKHRWKHU¶VSRVVHVVLRQRILW7KLVVD\V$TXLQDV
LVEHWWHUGHVFULEHGDV³]HDO´WKDQHQY\$WKLUGZD\WKDWZHPLJKWVRUURZ
WKHJRRGRIDQRWKHULVLIWKDWJRRGFRPHVDERXWXQMXVWO\³EHFDXVHKHZKR
KDSSHQVWRKDYHWKDWJRRGLVXQZRUWK\RILW´7KHVHJRRGVDUHXQGHUVWRRG
WREHWHPSRUDOJRRGVOLNHZHDOWKDQGWKLVNLQGRIULJKWHRXVLQGLJQDWLRQ
 Ballor & Claar 39

DVQRWHGDERYHFDQEHWKHRFFDVLRQIRULPSHUWLQHQWO\TXHVWLRQLQJ³*RG¶V
MXVWRUGLQDQFH´7KHIRXUWKVHQVHRIHQY\LVWR³JULHYHRYHUDPDQ¶VJRRG
LQVRIDUDVKLVJRRGVXUSDVVHVRXUVWKLVLVHQY\SURSHUO\VSHDNLQJDQG
LVDOZD\VVLQIXOEHFDXVHWRGRVRLVWRJULHYHRYHUZKDWVKRXOGPDNHXV
UHMRLFH´ ,W LV LQ WKLV VHQVH WKDW HQY\ SURSHUO\ XQGHUVWRRG LV FRQWUDU\ WR
ORYHRUFKDULW\ZKLFKUHMRLFHVUDWKHUWKDQVRUURZVLQWKHJRRGRIRWKHUV
 )ROORZLQJWKH3URWHVWDQW5HIRUPDWLRQVXVWDLQHGUHÀHFWLRQRQWKHVLQV
DV³GHDGO\´ZDVW\SLFDOO\FRQ¿QHGWR5RPDQ&DWKROLFWUDGLWLRQVJLYHQWKH
QDWXUHRIWKHGLVWLQFWLRQEHWZHHQPRUWDODQGYHQLDOVLQVDOWKRXJKIRFXV
RQYLUWXHVDQGYLFHVSURFHHGHGDORQJRWKHUOLQHVDPRQJYDULRXV3URWHVWDQW
WUDGLWLRQV RIWHQ ZLWKLQ WKH FRQWH[W RI SUHDFKLQJ RU IRUPDWLYH PRUDO
LQVWUXFWLRQ ,Q WKH PRGHUQ HUD IRFXV EHJDQ WR VKLIW SDUWLFXODUO\ WR PRUH
V\VWHPDWLFDOO\ XQGHUVWDQGLQJ WKH VRFLDO FRQVHTXHQFHV RI HQY\ IURP WKH
SHUVSHFWLYHRIVRFLDOSKLORVRSK\DQGSROLWLFDOHFRQRP\(QY\DVDIHHOLQJ
FRPSDUDWLYHO\ GLUHFWHG WRZDUGV WKH RWKHU KDG ORQJ EHHQ UHFRJQL]HG DV
LQKHUHQWO\ VRFLDO HYHQ WKRXJK LW QHHG QRW LQ SULQFLSOH PDQLIHVW LWVHOI
H[WHUQDOO\$V6FKRHFNZULWHV³(QY\LVDGLUHFWHGHPRWLRQZLWKRXW
D WDUJHW ZLWKRXW D YLFWLP LW FDQQRW RFFXU´ S  %HUQDUG 0DQGHYLOOH
LQKLVIDPRXVFable of the Bees>@¿UVWSXEOLVKHG
LQDUJXHGWKDWHQY\PLJKWKDYHVRPHSRVLWLYHVRFLDOFRQVHTXHQFHV
$VLQGLFDWHGE\WKHVXEWLWOHRIKLVSRHP3ULYDWH9LFHV3XEOLF%HQH¿WVKH
LOOXVWUDWHVWKDWHQY\FDQDURXVHLQGXVWU\RXWRIDVHQVHRIFRPSHWLWLRQDQG
FRQVSLFXRXVFRQVXPSWLRQ³(QY\LWVHOIDQG9DQLW\:HUH0LQLVWHUVRI
,QGXVWU\7KHLUGDUOLQJ)ROO\)LFNOHQHVV,Q'LHW)XUQLWXUHDQG'UHVV
7KDWVWUDQJHULGLF¶ORXV9LFHZDVPDGH7KHYHU\:KHHOWKDWWXUQ¶GWKH
7UDGH´YROS
 2QHRIWKHEHQH¿WVRIUHFRJQL]LQJWKH&KULVWLDQWUDGLWLRQ¶VORQJUHÀHFWLRQ
RQ WKH VLQ RI HQY\ LV WKDW LV KHOSV RULHQW DQG FRQWH[WXDOL]H WKH ¿QGLQJV
RIHFRQRPLFDQGRWKHUVRFLDOVFLHQFHV$V'H<RXQJZULWHV³$VD
VSLULWXDOSUREOHPHQY\UHTXLUHVDVSLULWXDOVROXWLRQ´S7KLVGRHVQRW
PHDQ WKDW RWKHU IRUPV RI UHPHG\ ZKHWKHU SROLWLFDO OHJDO RU RWKHUZLVH
GRQRWKDYHWKHLUSODFH%XWLWGRHVPHDQWKDWDQ\RQHVROXWLRQRUVHWRI
VROXWLRQVPXVWWDNHLQWRDFFRXQWWKHLUOLPLWDWLRQVDQGWKHGHHSVSLULWXDO
FRUUXSWLRQ DQG LQWUDFWDELOLW\ RI D VLQ OLNH HQY\ )URP WKH RXWVHW WKHQ D
&KULVWLDQ XQGHUVWDQGLQJ RI HQY\ DV D VSLULWXDO PDODLVH SURYLGHV XV ZLWK
UHDVRQWROLPLWRXUH[SHFWDWLRQVIRUWKHHI¿FDF\RIVRFLDOSROLF\VROXWLRQV
40 FAITH & ECONOMICS

2. Envy in the Literature of Economics: A Study in Tractability

7KDWHQY\LVUHODWLYHO\HDVLO\GH¿QHGLQWKHSKLORVRSKLFDORUWKHRORJLFDO
VHQVHGRHVQRWQHFHVVDULO\PHDQWKDWLWLVHDVLO\GH¿QHGLQHFRQRPLFWHUPV
RU WKDW LW LV HDVLO\ WUDFWDEOH XVLQJ WKH WRROV RI WKHRUHWLFDO HFRQRPLFV$V
PLJKW EH H[SHFWHG IURP WKH LQVLJKWV RI &KULVWLDQ WKHRORJ\ QHRFODVVLFDO
HFRQRPLFPRGHOVKDYHSURYHQTXLWHOLPLWHGZLWKUHVSHFWWRWKHLUDELOLWLHVWR
GH¿QHDQGPHDVXUHVSLULWXDOUHDOLWLHVVXFKDVHQY\RUORYHXQGHUWKHUXEULF
RI XWLOLW\ VHH 0XHOOHU  )RU H[DPSOH ZKHQ ZH UHIHU WR DQRWKHU¶V
³JRRG´GRZHPHDQDQRWKHU¶VKDSSLQHVV"2UDUHZHUHIHUULQJWRDQRWKHU¶V
FXUUHQWHQGRZPHQWRIUHVRXUFHVDQGRXURZQIHHOLQJVDERXWWKDWVSHFL¿F
HQGRZPHQWUHODWLYHWRRXUIHHOLQJVUHJDUGLQJRXURZQ"
 7KH VKRUW HFRQRPLF OLWHUDWXUH UHJDUGLQJ HQY\ SURFHHGV DORQJ ERWK
OLQHV,QVRPHFDVHVHFRQRPLVWVPRGHOHQY\DVVLPSO\SUHIHUULQJDQRWKHU¶V
HQGRZPHQWWRRQH¶VRZQ7KLVLVZKDW+HUUHLQHUDQG3XSSHUHIHUWR
DVDQ³LQWUDSHUVRQDO´FRPSDULVRQRIWZRGLIIHUHQWEXQGOHVKRZ,IHHODERXW
P\RZQORWFRPSDUHGWRKRZ,ZRXOGIHHOLI,KDGVRPHRQHHOVH¶V%XWLQ
RWKHU FDVHV HFRQRPLVWV KDYH DWWHPSWHG WR JHW DW²DJDLQ LQ WKH ODQJXDJH
RI+HUUHLQHUDQG3XSSH²HQY\DVDQ³LQWHUSHUVRQDO´FRPSDULVRQRQHLQ
ZKLFKRQHSHUVRQFRPSDUHVKHUOHYHORIXWLOLW\WRWKHVXVSHFWHGXWLOLW\OHYHO
RIDQRWKHUSHUVRQ,QWKLVVHFRQGFDVHWKHHQYLHUGRHVQRWFDUHDERXWZKDW
DQRWKHUSRVVHVVHVZKDWPDWWHUVLVKRZWKHHQYLHUH[SHFWVWKHREMHFWRIKLV
HQY\PXVWIHHODERXWKLVORWLQFRPSDULVRQWRKRZWKHHQYLHUIHHOVDERXW
KLVRZQ,QWKLVYLHZRQHHQYLHVWKRVHSHUFHLYHGWRKDYHDWWDLQHGOHYHOVRI
XWLOLW\SUHIHUDEOHWRRQH¶VRZQ

Envy as an Interpersonal Comparison

7KRXJKWKHLUZRUNFRQVWLWXWHVDVPDOOHUVKDUHRIWKHHQY\OLWHUDWXUHVRPH
HFRQRPLVWVPRGHOWKHSUHVHQFHRIHQY\DVDQLQWHUSHUVRQDOFRPSDULVRQ,Q
WKLVYLHZHQY\LVJHQHUDWHGZKHQDULVHLQRQHSHUVRQ¶VXWLOLW\UHVXOWVLQD
QHJDWLYHH[WHUQDOLW\DUHGXFWLRQLQWKHXWLOLW\RIRWKHUV7KRXJKHDUO\ZRUN
XVLQJ WKLV LQWHUSHUVRQDO DSSURDFK PD\ EH WUDFHG WR 'XHVHQEHUU\ 
DQGDOVRWR0LVKDQ%UHQQDQVHUYHVDVDW\SLFDOH[DPSOH
RIWKLVPHWKRG%UHQQDQH[SUHVVHVWKHSUHVHQFHRIHQY\LQDQHFRQRP\
E\ PDNLQJ RWKHUV¶ XWLOLW\ IXQFWLRQV DUJXPHQWV RI RQH¶V RZQ ZLWK HDFK
EHDULQJDQHJDWLYHVLJQ%UHQQDQ¶VPDLQFRQFOXVLRQ²LQDQHFRQRP\ZLWK
QRSURGXFWLRQ²LVWKDWUHGLVWULEXWLRQVIURPULFKWRSRRUPD\EHSRWHQWLDOO\
3DUHWRLPSURYLQJVLQFHUHGLVWULEXWLRQVIURPWZRULFKLQGLYLGXDOVWRDSRRU
IHOORZPD\DFWXDOO\PDNHWKHULFKIHHOEHWWHULILWUHGXFHVWKHHQY\DQGRU
PDOLFHWKH\IHHOWRZDUGHDFKRWKHUEHFDXVHWKH\ERWKSRVVHVVODUJHVKDUHV
 Ballor & Claar 41

RIVRFLHWDOZHDOWK$VWDUWOLQJDGGLWLRQDOLPSOLFDWLRQRIWKHPRGHOLVWKDW
HYHQZHDOWKGHVWUXFWLRQRIWKHULFKPD\SRWHQWLDOO\EH3DUHWRLPSURYLQJLI
LWVXI¿FLHQWO\PLWLJDWHVWKHEDGIHHOLQJVWKH\KDYHIRURQHDQRWKHU

Envy as an Intrapersonal Comparison

:KLOHWKHOLWHUDWXUHUHJDUGLQJLQWHUSHUVRQDOFRPSDULVRQVLVLPSRUWDQWPRVW
WKHRUHWLFDOZRUNUHJDUGLQJHQY\WUHDWVLWDVDQLQWUDSHUVRQDOFRPSDULVRQ
RQH¶V RZQ IHHOLQJ UHJDUGLQJ RWKHUV¶ EXQGOHV FRPSDUHG WR RQH¶V RZQ
DQGFRQVLVWVODUJHO\RIWKHRUHWLFDOHIIRUWVWKDWIROORZIURP)ROH\
7KXV)ROH\GH¿QHVDQHQY\IUHHDOORFDWLRQRIUHVRXUFHVDVRQHLQZKLFK
QRDJHQWSUHIHUVDQRWKHU¶VEXQGOHWRKLVRZQ,QWKLVYLHZHQY\LVGULYHQ
RQO\E\RQH¶VIHHOLQJVDERXWRQH¶VRZQPDWHULDOVLWXDWLRQLQFRPSDULVRQWR
KLVIHHOLQJVLIKHZHUHLQWKHPDWHULDOVLWXDWLRQVRIRWKHUV,QWKLVOLWHUDWXUH
WKHXWLOLW\WKDWRWKHUVIHHOLQWKHLURZQVLWXDWLRQVLVLUUHOHYDQWDQGKDVQR
EHDULQJRQHQY\$UQVSHUJHUSURYLGHVDQRYHUYLHZRIWKLVOLWHUDWXUH
Economies without production. 9DULDQ  HPSOR\V )ROH\¶V
GH¿QLWLRQRIHQY\LQKLVDUWLFXODWLRQRIZKDWKHFDOOVDQHTXLWDEOHDOORFDWLRQ
)RU9DULDQDQHTXLWDEOHDOORFDWLRQLVRQHWKDWLVIUHHIURPHQY\LQWKHVHQVH
RI)ROH\9DULDQWKHQJRHVRQWRGH¿QHD³IDLU´DOORFDWLRQRIUHVRXUFHVDV
RQHWKDWLVERWKHTXLWDEOHLHHQY\IUHHDQG3DUHWRHI¿FLHQW
 ,Q WKH ¿UVW SDUW RI 9DULDQ¶V SDSHU SURGXFWLRQ LV QRW SRVVLEOH ,Q WKLV
VHWWLQJ9DULDQFRQFOXGHVWKDWDQHFHVVDU\FRQGLWLRQIRUDIDLUDOORFDWLRQRI
UHVRXUFHVLVHTXDOLW\RIWKHLQLWLDOGLVWULEXWLRQ
 3XEOLVKLQJ LQ WKH American Economic Review LQ WKH VDPH \HDU WKDW
9DULDQ¶VPDQXVFULSWDSSHDUHGLQWKHJournal of Economic Theory)HOGPDQ
DQG.LUPDQFRQFOXGHWKDWHYHQZKHQDVVXPSWLRQVUHJDUGLQJDJHQWV¶
XWLOLW\IXQFWLRQVDUHTXLWHVWULFWPXWXDOO\EHQH¿FLDOH[FKDQJHDORQH²LH
IDLU WUDQVDFWLRQV²FDQQRW HQVXUH HQY\IUHH RXWFRPHV 7KDW LV VRPHRQH
ZLOODOZD\VSUHIHUDQRWKHU¶VDOORFDWLRQWRKLVRZQ
Economies with Production.$VZHPHQWLRQHGHDUOLHU9DULDQ
LV LPSRUWDQW EHFDXVH LW GH¿QHV D IDLU DOORFDWLRQ RI UHVRXUFHV DV RQH WKDW
LV ERWK 3DUHWRHI¿FLHQW DQG DOVR HQY\IUHH %XW 9DULDQ¶V SDSHU LV DOVR
VLJQL¿FDQW LQDVPXFK DV LW WDFNOHV WKH TXHVWLRQ RI ZKHWKHU LW LV SRVVLEOH
WR REWDLQ D IDLU DV9DULDQ GH¿QHV LW DOORFDWLRQ RI UHVRXUFHV²LQFOXGLQJ
OHLVXUH²LQDQHFRQRP\ZKHQSURGXFWLRQLVSRVVLEOH,VWKHUHDIDLUZD\WR
GLYLGHDVRFLHW\¶VSURGXFWHVSHFLDOO\VLQFHVRPHDJHQWVKDYHWKHFDSDFLW\
WREHPRUHSURGXFWLYHWKDQRWKHUV"
 9DULDQ¶VDQVZHULVHVVHQWLDOO\³1R´,QDQHFRQRP\ZLWKSURGXFWLRQ
DQG ZLWK DJHQWV ZKR GLIIHU LQ WKHLU SURGXFWLYH FDSDFLWLHV WKHUH ZLOO
DOZD\V EH SHRSOH ZKR SUHIHU ZKDW RWKHUV KDYH DFKLHYHG WR WKHLU RZQ
42 FAITH & ECONOMICS

ORW%XW9DULDQJRHVRQWRPDNHDYHU\LQWHUHVWLQJDUJXPHQW9DULDQVD\V
WKDW DQ\ HQY\ UHVXOWLQJ EHFDXVH OHVVSURGXFWLYH DJHQWV DUH XQZLOOLQJ WR
SXWIRUWKWKHDGGLWLRQDOHIIRUWQHHGHGWRHTXDOZKDWWKHLUPRUHSURGXFWLYH
FRXQWHUSDUWVDFKLHYHLVLUUHOHYDQW$FFRUGLQJWR9DULDQ\RXVLPSO\FDQQRW
EH WDNHQ VHULRXVO\ LI \RX DUH HQYLRXV RI VRPHRQH HOVH EHFDXVH KH FDQ
DFFRPSOLVKVRPHWKLQJPRUHHDVLO\WKDQ\RX%XWLQDGHPRFUDWLFUHJLPH
ZKHUHXQKDSS\FLWL]HQVFDQYRWHIRUVWUXFWXUDOSROLF\UHPHGLHVWKHPRUDO
VHULRXVQHVV RI WKH FODLP FDQ EH OHVV LPSRUWDQW WKDQ WKH FODLP¶V SROLWLFDO
FRJHQF\7KLVUHDOLW\LVLOOXVWUDWHGLQWKHFODLPVUHJDUGLQJLQHTXDOLW\DQG
VRFLDOLQVWDELOLW\LQVWXGLHVVXFKDV*DOEUDLWK$V0F&ORVNH\
QRWHV³PHUHSHUVRQDOHQY\VKRXOGQRWLQDOLEHUDOVRFLHW\EHFRQVLGHUHG
D VSLOORYHU WR EH GHDOW ZLWK 7KH GDQJHU RI EULQJLQJ RQHPDQRQHYRWH
GHPRFUDF\LQWRWKHHFRQRP\LVWKDWLWFDQLQGXOJHHQY\DQGNLOOH[SDQVLRQ
RIWKHSLH´S7RGDWHKRZHYHUWKHHQVXLQJOLWHUDWXUHKDVQRWEHHQ
DEOH WR GHPRQVWUDWH DQ DOORFDWLRQ WKDW LV ERWK HI¿FLHQW DQG HQY\IUHH LQ
D SURGXFWLRQ HFRQRP\ )XUWKHU LQ PRGHOV ZLWK SURGXFWLRQ DOWHUQDWLYHV
WRHQY\IUHHQHVVWHQGWRXQMXVWO\SHQDOL]HSHRSOHZLWKH[WUHPHOHYHOVRI
SURGXFWLYLW\6HH$UQVSHUJHUIRUH[DPSOHV

3. Are Envy-Free Allocations Fair?

$YHU\ODUJHVXEVHWRIWKHHQY\OLWHUDWXUHFRQFHUQVYDULDWLRQVRQWKHFODVVLF
FDNHFXWWLQJ SUREOHP +RZ WR GLYLGH WKH ODVW SLHFH RI FDNH VR WKDW QR
RQHSUHIHUVDQRWKHU¶VSLHFHRIFDNHWRKLVRZQ$VPDQ\RIXVOHDUQHGDV
FKLOGUHQZKHQWZR\RXQJVWHUVZDQWWRVSOLWDSLHFHRIFDNHWKHVLPSOHVW
VROXWLRQWKDWOHDYHVQRRQHLQWHDUVLVWROHWRQHSHUVRQGRWKHFXWWLQJDQG
WROHWWKHRWKHURQHGRWKHFKRRVLQJ7KLVHOHJDQWVROXWLRQHQVXUHVWKDWWKH
FXWWHUUHFHLYHVDSLHFHRIFDNHWKDWLVQRVPDOOHUWKDQWKHVPDOOHURIWKHWZR
SLHFHVKHKDVFXW
 1RWHWKRXJKKRZVLPSOLVWLFWKHXQGHUO\LQJDVVXPSWLRQVRIWKLVSUREOHP
DUH)RUVWDUWHUVWKHDQDO\VLVDVVXPHVRQO\RQHJRRGFDNH6HFRQGWKH
SUREOHP DVVXPHV DQ LQ¿QLWHO\ GLYLVLEOH JRRG D SLHFH RI FDNH 7KXV DQ
LQ¿QLWHQXPEHURISRVVLEOHGLYLVLRQVH[LVWV7KLUGWKLVSUREOHPDVVXPHV
WKDWWKHJRRGLVXQLIRUPLHWKDWHDFKVTXDUHLQFKRIFDNHLVRIHTXDOYDOXH
WRHDFKFKLOG/DVWO\WKHSUREOHPDVVXPHVWKDWWZRDJHQWVKDYHLGHQWLFDO
XWLOLW\IXQFWLRQVWKDWDUHPRQRWRQLFDOO\LQFUHDVLQJLQWKHDPRXQWRIFDNH
WKH\FRQVXPH
 8VLQJ9DULDQ¶VGH¿QLWLRQRIIDLUQHVV²DQGXQGHUWKHDVVXPSWLRQVJLYHQ
LQWKHODVWSDUDJUDSK²WKHUHVXOWLQJGLYLVLRQLVDIDLUHI¿FLHQWDQGHQY\
IUHHRXWFRPH1RRQHSUHIHUVWKHRWKHU¶VSLHFHRIFDNHDQGWKHUHLVQR
 Ballor & Claar 43

ZD\WRPDNHRQHSHUVRQEHWWHURIIZLWKRXWUHGXFLQJWKHZHOOEHLQJRIWKH
RWKHU6XEVHTXHQWDQDO\VHVFRPSOLFDWHWKHSUREOHPLQDYDULHW\RIZD\V
VXFKDVDGGLQJDWKLUGSHUVRQWRWKHSUREOHPDOZD\VDVNLQJZKHWKHUDIDLU
GLYLVLRQLVSRVVLEOH6XFKH[WHQVLRQVJURZYHU\FRPSOLFDWHGYHU\TXLFNO\
DQGLQVRPHFDVHVUHTXLUHZDVWLQJVRPHRIWKHFDNHLQRUGHUWRHQVXUHWKDW
QRRQHLVHQYLRXVRIDQRWKHU¶VSLHFH7KLVLVSUHFLVHO\WKHUHVXOWIRXQGLQ
&ORXWLHU1\PDQDQG6XLQZKLFKWKHUHDUHRQO\WZRDJHQWVEXW
PXOWLSOHFDNHVWRGLYLGH
 +ROFRPEH  WDNHV LVVXH ZLWK WKH IXQGDPHQWDO DVVXPSWLRQV
RI WKH FDNH FXWWLQJ SUREOHP FODLPLQJ WKDW HYHQ LQ HFRQRPLHV ZLWKRXW
SURGXFWLRQ²ZKHUH WKH SUREOHP LV PHUHO\ RQH RI DOORFDWLRQ²HQY\IUHH
RXWFRPHVFDQQRWEHFRQVLGHUHGIDLUDWOHDVWLQWKHFRQYHQWLRQDOVHQVHRI
WKHZRUG)RU+ROFRPEHHYHQHQY\IUHHRXWFRPHVPXVWEHGHHPHGXQIDLU
LI WKH DOORFDWLYH SURFHVV LWVHOI LV XQIDLU²LH LI WKH DOORFDWLYH SURFHVV
IDYRUVRQHSHUVRQRYHUDQRWKHU
 &RQVLGHUIRUH[DPSOHZKDWPLJKWKDSSHQLIWKHSLHFHRIFDNHZHUHQRW
XQLIRUP DQG SUHIHUHQFHV ZHUH QRW LGHQWLFDO 6XSSRVH WKDW WKH UHPDLQLQJ
SLHFHRIFDNHFRQWDLQVDEHDXWLIXOURVHPDGHRIGHOLFLRXVGHFRUDWRUIURVWLQJ
LQRQHFRUQHUDQGVXSSRVHDOVRWKDWWKHFXWWHURIWKHFDNHLVYHU\KXQJU\
DQG  NQRZV WKDW WKH FKRRVHU KDV D SDUWLFXODU IRQGQHVV IRU GHFRUDWRU
IURVWLQJ URVHV ,Q WKDW FDVH WKH FXWWHU ZLOO VWUDWHJLFDOO\ FXW WKH FDNH LQWR
SLHFHVRIWZRYHU\GLIIHUHQWVL]HV²DUHODWLYHO\VPDOOSLHFHFRQWDLQLQJWKH
URVHDQGDODUJHKXQNZLWKRXWLW²FRQ¿GHQWWKDWWKHFKRRVHUZLOOVHOHFWWKH
VPDOOHUSLHFH
 2QFHWKHFKRRVHUREVHUYHVZKDWWKHFXWWHUKDVGRQHWKHFKRRVHUVKRXOG
ULJKWO\FU\³IRXO´VLQFHRQHFRXOGKDUGO\FDOOWKHFXWWHU¶VDFWLRQ³IDLU´<HW
QRWHDOVRWKDWWKHUHVXOWLQJDOORFDWLRQLVQHYHUWKHOHVVDQHQY\IUHHRQHZH
NQRZWKDWWKHFKRRVHUGRHVQRWSUHIHUWKHELJJHUSLHFHGXHWRKLVUHYHDOHG
SUHIHUHQFH,IWKHFKRRVHUSUHIHUUHGWKHODUJHUSLHFHWKDWLVQRZWKHSURSHUW\
RIWKHFXWWHUWKHQWKHFKRRVHUZRXOGKDYHVHOHFWHGLWLQWKH¿UVWSODFH
 /XFH DQG 5DLIID  DUWLFXODWH WKLV SUREOHP RI WKH ³GLYLGHU¶V
DGYDQWDJH´DQGVXJJHVWWKDWWKHSUREOHPFDQEHVROYHGXVLQJDQDUELWUDU\
PHWKRG VXFK DV WKH ÀLS RI D IDLU FRLQ +ROFRPEH ¿QGV WKLV VXJJHVWLRQ
HQWLUHO\XQVDWLVI\LQJOHDYLQJWKHKLJKO\VLJQL¿FDQWDVVLJQPHQWRIWKHUROH
RIWKHGLYLGHUWRDQHQWLUHO\UDQGRPHYHQW
 2XUH[DPSOHKHUHLOOXVWUDWHV+ROFRPEH¶VDUJXPHQWWUXO\IDLURXWFRPHV
FDQ IROORZ RQO\ IURP SURFHVVHV GHHPHG WR EH IDLU E\ DOO SDUWLHV$QG LI
+ROFRPEHLVULJKW²DQGZHEHOLHYHKHLV²WKDQDQDEVHQFHRIHQY\FDQQRW
JXDUDQWHHIDLUQHVV
44 FAITH & ECONOMICS

4. Envy, Its Social Consequences, and Growth

6LQFHHQY\LVSRWHQWLDOO\FRUURVLYHWRWKHVRXODVZHOODVWRRXUUHODWLRQVKLSV
ZLWK HDFK RWKHU LW LV QRW XQUHDVRQDEOH WR DVN ZKHWKHU D VRFLHW\ VKRXOG
DWWHPSW WR DSSO\ LQVWLWXWLRQDO DUUDQJHPHQWV LQ DQ HIIRUW WR UHGXFH RU
HOLPLQDWHWKHHQYLRXVIHHOLQJVIDOOHQKXPDQEHLQJVDUHRIWHQWHPSWHGWR
KDYH %XW DV ZLWK DQ\ RWKHU QRUPDWLYH TXHVWLRQ LQ HFRQRPLFV ZH PXVW
ZHLJK FDUHIXOO\ WKH DQWLFLSDWHG EHQH¿WV RI VXFK DFWLYLWLHV DJDLQVW WKHLU
OLNHO\RSSRUWXQLW\FRVW$QGZHPXVWFRQVLGHUQRWRQO\WKHLPPHGLDWHEXW
DOVRWKHORQJHUWHUPHIIHFWVRIDQ\VXFKSURSRVDO
 7R EH VXUH HQY\ SURSHUO\ VSHDNLQJ LV XQSURGXFWLYH7KH SUHVHQFH RI
HQY\PHDQVWKDWSHRSOHIHHOSDLQZKHQWKH\FRQVLGHUWKHLURZQVLWXDWLRQV
UHODWLYHWRWKRVHRIRWKHUV7KXVHYHQLIHQY\JRHVHQWLUHO\XQVSRNHQLWLV
DQHWVRFLDOZHOIDUHUHGXFHU)XUWKHUHQY\FDQSRWHQWLDOO\GLYHUWXVIURP
UHODWLYHO\ SURGXFWLYH DFWLYLWLHV WR OHVV SURGXFWLYH RQHV LQ ZD\V WKDW DUH
ZHOIDUHUHGXFLQJLQERWKWKHVKRUWDQGORQJWHUP*UROOHDX0]RXJKLDQG
6XWDQFDWDORJERWKWKHSURGXFWLYHDQGXQSURGXFWLYHEHKDYLRUVWKDW
WKHSUHVHQFHRIHQY\FDQRFFDVLRQRQWKHSDUWVRIERWKWKHHQYLHGDQGWKH
HQYLRXV
 )RU H[DPSOH HQY\ PD\ PRWLYDWH WKH HQYLRXV WR ODZIXOO\ LPSURYH
WKHLU ORW WKURXJK WKH HPXODWLRQ RI RWKHUV ,I VR WKHQ VXFK DFWLYLWLHV FDQ
SRWHQWLDOO\EH3DUHWRLPSURYLQJ1RWHDOVRWKDWWKLVIHHOLQJRIZDQWLQJWR
HPXODWHRQH¶VEHWWHUVLVQRWHQY\SURSHULQWKHYLHZRI$TXLQDVDQGLVQRW
VLQIXO,QWKLVZD\0DQGHYLOOH¶VHQGRUVHPHQWRIHQY\DVVRFLDOO\EHQH¿FLDO
ZRXOGKDYHPRUHWRGRZLWKKLVXQGHUVWDQGLQJRIHQY\DVFRUUHVSRQGLQJ
WR$TXLQDV¶VHFRQGVHQVHUDWKHUWKDQWKHXQGHUVWDQGLQJRIHQY\SURSHUDVD
YLFH
 0RVW RI WKH WLPH WKRXJK WKH SUREOHP RI HQY\ FDQ GLYHUW UHVRXUFHV
DZD\IURPSURGXFWLYHDFWLYLWLHVOHDGLQJWRDVORZGRZQLQDQHFRQRP\¶V
GHYHORSPHQWDQGJURZWK*UROOHDX0]RXJKLDQG6XWDQSRLQWRXWWKDWWKH
HQYLHGPD\DOWHUWKHLUEHKDYLRUVLIEHLQJWKHREMHFWRIHQY\LVVXI¿FLHQWO\
FRVWO\7KHREMHFWVRIHQY\PD\SRWHQWLDOO\JURZOHVVDPELWLRXVGHQ\RU
KLGHWKHLUVXFFHVVDSRORJL]HIRUWKHLUVXFFHVVRUHYHQVKDUHWKHIUXLWVRI
WKHLU ODERUV LQ DQ HIIRUW WR DSSHDVH WKRVH ZKR HQY\ WKHP 0XL 
IRUH[DPSOHH[DPLQHVWKHLPSOLFDWLRQVRIVWUDWHJLFVKDULQJLQWKHIDFHRI
SRVVLEOHHQYLRXVUHWDOLDWLRQ%HFDXVHQRQHRIWKHVHDFWLYLWLHVLVFRVWOHVV
SUHFLRXVUHVRXUFHVZLOOEHGLYHUWHGWRVXFKDFWLYLWLHVZKHQHYHUWKHEHQH¿W
H[FHHGVWKHFRVWDWWKHPLFUROHYHOLQWKHLQGLYLGXDOPLQGVRIWKHHQYLHG
 *LYHQWKDWHQY\LVODUJHO\XQSURGXFWLYHVRFLDOO\FRUURVLYHDQGVLQIXO
 Ballor & Claar 45

SHUKDSVWKHUHLVDOHJLWLPDWHUROHIRUWKHVWDWHLQUHGXFLQJHQY\LQVRFLHW\
%XW ZH DUJXH LQ WKH UHPDLQGHU RI WKLV SDSHU WKDW JRYHUQPHQW JHQHUDOO\
FDQQRWLQWHUYHQHLQWKHPDUNHWSODFHWRUHGXFHRUHOLPLQDWHHQY\LQDZD\
WKDW OHDGV WR VXSHULRU VRFLDOZHOIDUH RXWFRPHV²ZKHWKHU LQ WKH ORQJ RU
VKRUWWHUP
 &RQVLGHU¿UVW9DULDQ¶VUHVXOWV,QDQHFRQRP\ZLWKRXWSURGXFWLRQ
IDLURXWFRPHVLQWKLVFDVHPHDQLQJERWKHQY\IUHHDQGHI¿FLHQWFDQEH
JHQHUDWHGRQO\ZKHQWKHLQLWLDOGLVWULEXWLRQRIUHVRXUFHVLVHTXDOLW\%XW
HYHQ LI ZH OLYHG LQ D ZRUOG ZLWKRXW SURGXFWLRQ DQ LQLWLDO DOORFDWLRQ RI
HTXDOLW\²DVDSUDFWLFDOPDWWHU²FDQZRUNRQO\ZKHQQRWKLQJKDVSUHFHGHG
LW%XWVRPHWKLQJDOZD\VSUHFHGHVRXUDWWHPSWVDWUHGLVWULEXWLRQDQGUDUHO\
GRHIIRUWVWRUHGLVWULEXWHWRHTXDOLW\WXUQRXWZHOO&RQVLGHUDVH[DPSOHV
VRPHRIWKHPRVWQRWRULRXVODQGUHIRUPV$FFRUGLQJWR5RVH¿HOGH
9LHWQDP¶VODQGUHIRUPVRIWKHVOHGWREHWZHHQDQG
GHDWKV²DQXPEHUWKDWLQFOXGHVVXPPDU\H[HFXWLRQVRI1DWLRQDO3HRSOH¶V
3DUW\PHPEHUVS7KRXJKUHODWLYHO\OHVVEUXWDO3RO3RW¶VUHIRUPV
ZHUHPHUFLOHVV6KRUWQRWHVWKDWLQ3RW¶V&DPERGLDHYHQ³>U@LFKHU
SHDVDQWVZHUHGLYHVWHGRISDUWRIWKHLUODQGKROGLQJVZKLFKZHUHJLYHQWR
SRRUHUIDPLOLHVVRWKDWE\WKHHQGRIWKH\HDUHDFKIDPLO\KDGH[DFWO\WKH
VDPHDFUHDJH´SS8QOLNHWKHK\SRWKHWLFDOFDNHLQWKHFODVVLF
FDNHFXWWLQJPRGHOODQGLVQRWXQLIRUPVRRQHPHDVXUHRIHTXDOLW\HJ
DFUHDJHPD\QRWVLJQLI\HTXDOLW\LQPRUHLPSRUWDQWVHQVHVHJDUDELOLW\
 $QG ZKDW DERXW HFRQRPLHV ZLWK SURGXFWLRQ" ,W LV DEXQGDQWO\ FOHDU
WKDW UHGLVWULEXWLRQ LQWHQGHG WR SXUJH HQY\ ZLOO FUHDWH RWKHU SUREOHPV LQ
ERWK WKH VKRUW DQG ORQJ UXQ ,Q WKH VKRUW UXQ DQG DV +ROFRPEH 
PDNHVFOHDUHQY\IUHHRXWFRPHVVLPSO\FDQQRWEHFRQVLGHUHGIDLULIWKH
SURFHVV LV GHHPHG WR EH XQMXVW$QG HYHQ LI ZH PLJKW JXDUDQWHH HTXDO
VWDUWLQJ SRLQWV ZLWKRXW WKH LQWHUYHQWLRQ RI VRPHWKLQJ OLNH 9RQQHJXW¶V
+DQGLFDSSHU*HQHUDOWKHPRUHSURGXFWLYHDQGPRUHWDOHQWHGZRXOGDJDLQ
TXLFNO\ RXWSDFH WKH OHVV SURGXFWLYH DQG OHVV WDOHQWHG D SRLQW PDGH E\
1R]LFNDQGUHLWHUDWHGUHFHQWO\E\%DNHU$V1R]LFNZULWHV
³7RPDLQWDLQDSDWWHUQRQHPXVWHLWKHUFRQWLQXDOO\LQWHUIHUHWRVWRSSHRSOH
IURPWUDQVIHUULQJUHVRXUFHVDVWKH\ZLVKWRRUFRQWLQXDOO\RUSHULRGLFDOO\
LQWHUIHUHWRWDNHIURPVRPHSHUVRQVUHVRXUFHVWKDWRWKHUVIRUVRPHUHDVRQ
FKRVH WR WUDQVIHU WR WKHP´ S $QG VR RYHU WKH ORQJHU WHUP XVLQJ
UHGLVWULEXWLRQ DV D WRRO WR UHGXFH HQY\ GLVFRXUDJHV HQWUHSUHQHXUVKLS
GLVFRYHU\ LQYHVWPHQW DQG JURZWK ,W PD\ HYHQ FUHDWH D QHZ FODVV RI
HQYLHUVWKRVHZKRKDYHVHHQWKHLUZHDOWKUHGLVWULEXWHGWRRWKHUVWKHUHE\
FDXVLQJQHZJULHIDWWKHUHGLVWULEXWLRQRIJRRGV
 &KRLDUJXHVWKDWDIXQGDPHQWDOUHDVRQIRUWKHSUHVHQFHRIHQY\
46 FAITH & ECONOMICS

LQVRFLHW\LVDQXQGHUDSSUHFLDWLRQRIWKHUROHRIWKHHQWUHSUHQHXU6LQFH
PRVWRIXVDUHQRWHQWUHSUHQHXUVZHDUHSODJXHGZLWKDQLQQDWHP\RSLD
UHJDUGLQJWKHQDWXUHRIWKHZRUNWKDWHQWUHSUHQHXUVDFWXDOO\GRDQGWKHUROH
WKDWWKH\SOD\LQMREFUHDWLRQGLVFRYHU\DQGGHYHORSPHQW7KLVIROORZVWKH
EDVLFLQVLJKWRI%DVWLDW>@UHJDUGLQJWKHWHQGHQF\WRGHYDOXH
WKDW ZKLFK ZH GR QRW VHH RU GR QRW XQGHUVWDQG 7R WKLV REVHUYDWLRQ ZH
ZRXOGDGGRXURZQLPSUHVVLRQWKDWPRVWSHRSOHGRQRWXQGHUVWDQGZHOOWKH
UROHRI¿QDQFLDOFDSLWDOLQWKHDFFXPXODWLRQRISK\VLFDOFDSLWDOGLVFRYHU\
RI WHFKQRORJLHV DQG LPSURYHPHQWV LQ HPSOR\PHQW RSSRUWXQLWLHV 7KXV
PRVW SHRSOH DUH PRUH OLNHO\ WR DFNQRZOHGJH WKH YDOXH RI WKH HIIRUWV RI
6WHYH-REVWKDQWKHYDOXHFRQWULEXWHGE\KLVLQYHVWRUV$QGLQERWKFDVHV
PRVWSHRSOHXQUHDVRQDEO\GLVFRXQWULVN,I&KRLLVFRUUHFWWKHQDWWHPSWV
DW HQY\ UHGXFWLRQ ZLOO GLVFRXUDJH HQWUHSUHQHXULDO DFWLYLW\ DQG FDSLWDO
DFFXPXODWLRQ²WZRRIWKHNH\GULYHUVRIJURZWK(QY\LQWKLVZD\LVLQ
SDUW UHODWHG WR HSLVWHPLF RU FRJQLWLYH OLPLWDWLRQV ZH PD\ QRW NQRZ WKH
UHDVRQVDSHUVRQKDVDJRRGRUPD\QRWSHUFHLYHWKHVHUHDVRQVDVMXVWL¿HG
HYHQWKRXJKREMHFWLYHO\WKHUHPD\EHQREDVLVIRUYLHZLQJWKHHQGRZPHQWV
DVXQMXVW
 0HUHO\ EHFDXVH SHRSOH DUH WHPSWHG WR HQY\ GRHV QRW PHDQ WKDW WKH
DSSURSULDWH UHVSRQVH LV WR HPSOR\ VRFLDO GHPRFUDF\ RU RWKHU IRUPV RI
FRHUFLRQ WR UHGLVWULEXWH RFFDVLRQV IRU LW DZD\$V +D]OLWW  SRLQWV
RXW WKH ¿UH RI HQY\ VLPSO\ FDQQRW EH TXHQFKHG WKURXJK LQVWLWXWLRQDO
UHIRUP $QG EHFDXVH WKH WKUHDW RI UHGLVWULEXWLRQ UHGXFHV LQFHQWLYHV WR
GLVFRYHUDQGWRFUHDWHDWWHPSWVWRTXHOOHQY\ZLOOQHYHUPDNHSRRUSHRSOH
ULFK,QVWHDGRILPSURYLQJWKHOLYHVRIWKHSRRULQDVLJQL¿FDQWZD\VRFLDO
HIIRUWVLQWHQGHGWRTXHOOHQY\ZLOOFKDLQWKHSRRUWROLYHVRIGHVWLWXWLRQ
 $OH[LV GH7RFTXHYLOOH  >@ XQGHUVWRRG ZHOO WKH XQIRUWXQDWH
SRWHQWLDORIVRFLDOGHPRFUDF\WRIDQHQY\¶VÀDPHV
«GHPRFUDWLFLQVWLWXWLRQVGHYHORSWKHVHQWLPHQWRIHQY\
LQ WKH KXPDQ KHDUW WR D YHU\ KLJK GHJUHH QRW VR PXFK
EHFDXVHWKH\RIIHUHDFKSHUVRQWKHPHDQVWREHFRPHHTXDO
WR RWKHUV EXW EHFDXVH WKHVH PHDQV FRQVWDQWO\ IDLO WKRVH
ZKRXVHWKHP'HPRFUDWLFLQVWLWXWLRQVDZDNHQDQGÀDWWHU
WKHSDVVLRQIRUHTXDOLW\ZLWKRXWHYHUEHLQJDEOHWRVDWLVI\
LWHQWLUHO\(YHU\GD\DWWKHPRPHQWZKHQSHRSOHEHOLHYH
WKH\KDYHJUDVSHGFRPSOHWHHTXDOLW\LWHVFDSHVIURPWKHLU
KDQGVDQGÀHHV«YROS
$QG 7RFTXHYLOOH LV QRW DORQH LQ KLV YLHZ WKDW VRFLDO GHPRFUDF\ FDQ
HQJHQGHU HQYLRXV DWWLWXGHV DQG EHKDYLRUV 6WHZDUW  FODLPV WKDW
VRFLDOLVP LWVHOI LV GULYHQ E\ HQY\ DQG '\NHV  JRHV HYHQ IXUWKHU
 Ballor & Claar 47

DUJXLQJ WKDW ³>V@RFLDOLVP WKURXJK LWV HPSOR\PHQW RI WKH SROLFH SRZHUV
RI WKH VWDWH IRU WKH SXUSRVH RI H[SURSULDWLQJ WKH ZHDOWK RI SURGXFHUV WR
WUDQVIHU WR QRQSURGXFHUV LV D IRUP RI LQVWLWXWLRQDOL]HG HQY\´ S 
%DXHU  KDV HYHQ GHVFULEHG WKH UHOLJLRXVO\ LQVSLUHG DGYRFDF\ IRU
ZHDOWKUHGLVWULEXWLRQDV³HQY\OHJLWLPL]HG´
 7KLV GLP YLHZ RI WKH VWDWH DV DQ HQY\ UHGXFHU LV FRQ¿UPHG LQ ERWK
WKHODERUDWRU\VHWWLQJDQGEH\RQG%HFNPDQ)RUPE\6PLWKDQG=KDQJ
FRQGXFWHGH[SHULPHQWVLQWHQGHGWRLOOXPLQDWHWKHFRQGLWLRQVXQGHU
ZKLFK VXEMHFWV ZRXOG YRWH IRU 3DUHWR JDLQV UDWKHU WKDQ D UHGLVWULEXWLYH
DOWHUQDWLYH8VLQJDPXOWLQDWLRQDOJURXSRIVXEMHFWVWKH\IRXQGWKDWYRWHUV
DUHPRUHOLNHO\WRIDYRU3DUHWRLPSURYHPHQWVZKHQWKH\DUHLJQRUDQWRI
WKHLURZQXQLTXHSRVLWLRQWKDQZKHQWKH\NQRZWKHLUSDUWLFXODUVSRWLQWKH
GLVWULEXWLRQ%HFNPDQet. al.DOVRIRXQGWKDWVXEMHFWVIURPQDWLRQVVXFK
DV5XVVLDRU&KLQDDSSHDUHGWREULQJVRPHRIWKHLULQVWLWXWLRQDOEDJJDJH
ZLWKWKHPWRWKHVWXG\ceteris paribusWKHVHVXEMHFWVZHUHPRUHOLNHO\WR
IDYRUDV\VWHPRIUHGLVWULEXWLRQWKDQRQHRIPXWXDOO\EHQH¿FLDOH[FKDQJH
DORQH7KHVH¿QGLQJVDUHFRQVRQDQWZLWK0XLZKRVHHVHQY\DVD
PDMRUREVWDFOHWRPHDQLQJIXOHFRQRPLFUHIRUPLQVRFLDOLVWDQGFRPPXQLVW
UHJLPHV
 ,Q FRQWUDVW 6WHZDUW  VXJJHVWV WKDW HQY\ LV OHVV RI D SUREOHP
LQ WKH 8QLWHG 6WDWHV EHFDXVH RI WKH SUHYDOHQFH RI D EHOLHI LQ LQGH¿QLWH
LPSURYHPHQWJURZWKDQGWHFKQRORJLFDOSURJUHVVDFRQFOXVLRQWKDWKDV
EHHQGLVSXWHGPRUHUHFHQWO\E\3DJHDQG-DFREV1RWRQO\LVVXFK
DSRVLWLYHSHUVSHFWLYHRQWKHYDOXHRIHFRQRPLFGHYHORSPHQWDQGSURJUHVV
JURZWKLQGXFLQJ LW DOVR OHDGV WR JUHDWHU ZHDOWK FUHDWLRQ DQG SULYDWH
SKLODQWKURS\ 7KHVH GLIIHUHQFHV SRLQW WR FXOWXUDO HOHPHQWV WKDW HLWKHU
IRVWHURUPLWLJDWHWKHGHOHWHULRXVHIIHFWVRIHQY\$QGDV$UMRRQREVHUYHV
³>Z@KHQYLFHVVWHPPLQJIURPQDUFLVVLVWLFEHKDYLRUHVSHFLDOO\HQY\DQG
JUHHG DUH LQWURGXFHG LQWR WKH IUHH PDUNHW V\VWHP WKH HFRQRP\ VXIIHUV
FULVHV DV D UHVXOW RI WKH ZHDNHQLQJ RI PRUDO YLUWXHV DQG HWKLFDO YDOXHV´
S
 (QY\LVVLQDQGLWWXUQVXJOLHUZKHQPDQLIHVWHGDVULJKWHRXVLQGLJQDWLRQ
RUPDOHYROHQFH)RU(OVWHUWKHQHQY\PHUHO\GHEDVHVWKHHQYLRXV
DQGFDQQHYHUEHDSSURSULDWHO\XVHGDVDVSXUWRDFWLRQ<HWHQY\²DVORQJ
DV LW WDNHV WKH HPXODWLYH IRUP WKDW LV QRW VLQ²LV DSSURSULDWH DV D VSXU
WRDFWLRQLQWKHHPXODWLYHLQVWDQFH$V*UROOHDXet. al.SRLQWRXW
JURZWKÀRXULVKHVLIHQY\OHDGVWRFRQVWUXFWLYHDFWLRQVRQWKHSDUWRIWKH
HQYLRXV
 ,QKLVFULWLTXHRIWZRLQÀXHQWLDOGRFXPHQWVZULWWHQE\3RSH3DXO9,
%DXHUQRWHVWKDWZKLOHHQY\LVVRXOGHVWUR\LQJDWWHPSWVWRSXUJH
48 FAITH & ECONOMICS

LW LPSHGH HFRQRPLF GHYHORSPHQW &RQVLGHU RQH H[DPSOH IURP &KLQD¶V

&XOWXUDO 5HYROXWLRQ )DUPHUV ZLWK IUXLW WUHHV ZHUH RUGHUHG WR FXW WKHP
GRZQLIHYHU\RQHFRXOGQRWKDYHWKHPWKHQQRRQHZRXOG=KDQJDQG
6DQJSS,QDPRUHUHFHQWH[DPSOH)RUHURQRWHV
WKDW 9HQH]XHOD¶V ODQG UHIRUP SURJUDP KDV ³EDFN¿UHG´ EHFDXVH LW KDV
UHGLUHFWHG SUHFLRXV UHVRXUFHV²LQFOXGLQJ ERWK ODQG DQG SHRSOH²IURP
PRUHYDOXDEOHXVHVWROHVVYDOXDEOHRQHV
 :H FRQFOXGH WKHQ WKDW V\VWHPDWLF FHQWUDO HIIRUWV WR HUDGLFDWH HQY\
FDQQRWOHDGWRODVWLQJLPSURYHPHQWVLQWKHOLYHVRIWKHSRRU,QVWHDGZH
VKRXOGIROORZ%DQGRZ¶VVXJJHVWLRQDQGDUUDQJHLQVWLWXWLRQVLQWKH
WULHGDQGWUXHZD\VWKDWJURZWKHRYHUDOOHFRQRPLFSLH:HHGHJRHV
IXUWKHUDQGDUJXHVWKDWJHQXLQHO\FRPSHWLWLYHPDUNHWVKHOSWRQHXWUDOL]H
HQY\EHFDXVHWKHUHVXOWLQJGLVWULEXWLRQLVGULYHQE\DGHFHQWUDOL]HGV\VWHP
RI LQGLYLGXDOV PHUHO\ DWWHPSWLQJ WR PDNH WKHLU OLYHV EHWWHU LQ ZKDWHYHU
VHQVHWKDWPHDQVWRWKHP$QG6FKRHFNQRWHVWKDWVWULYLQJPHUHO\
IRU HTXDOLW\ RI RSSRUWXQLW\ ZLOO QHLWKHU SXUJH HQY\ QRU IRVWHU ORQJWHUP
SURVSHULW\IRUDOO
,Q DQ DFKLHYHPHQWRULHQWHG VRFLHW\ WKHUH FDQQRW EH
HTXDOLW\ RI RSSRUWXQLW\ WKHUH FDQ DW PRVW EH DGHTXDWH
RSSRUWXQLWLHVIRUGLIIHUHQWNLQGVRISHRSOH«>7@KHUHVXOWRI
VXFKDV\VWHPLVDVRFLHW\VWUDWL¿HGDORQJVRFLRHFRQRPLF
OLQHV LQ ZKLFK FODVVHV RU VWDWXV JURXSV SURIHVVLRQV DQG
SUHVWLJHDUHFOHDUO\GLVFHUQLEOH7KLVZLOOSURYLGHRFFDVLRQ
IRUHQY\EXWLWLVPRUHKRQHVWDQGPRUHKHDOWK\VRFLDOO\
LQWKHORQJUXQWRDFNQRZOHGJHWKLVIDFWWKDQWREHKDYH
DV WKRXJK HTXDOLW\ RI RSSRUWXQLW\ ZHUH UHDOO\ IHDVLEOH
S

5. Concluding Thoughts for Christian Ethics and Economics

(QY\LVVLQ²GHDGO\VLQ$QG&KULVWLDQVHYHU\ZKHUHQHHGWRPRUHRSHQO\
GLVFXVV DQG FRQIHVV LW:H VWURQJO\ VXVSHFW WKDW GXH WR HQY\¶V XQLTXHO\
SULYDWHQDWXUH&KULVWLDQVERWWOHXSWKHLUHQY\DQGOHWLWVLPPHULQZD\VWKDW
DUHXQKHDOWK\WRWKHHQYLHUDVZHOODVFRUURVLYHWRSHUVRQDOUHODWLRQVKLSV
5RPDQV  JLYHV XV RXU PDQGDWH ³5HMRLFH ZLWK WKRVH ZKR UHMRLFH
PRXUQZLWKWKRVHZKRPRXUQ´1,9,QPRGHUQ&KULVWLDQLW\ZHWHQGWR
IRFXVRQO\XSRQWKHVHFRQGKDOIRIWKHYHUVHHPSKDVL]LQJKRZLPSRUWDQW
LWLVWR³KDYHHPSDWK\´IRUWKHOHVVIRUWXQDWH%XWWKLVVHFWLRQRI5RPDQV
JLYHVXVRXUPDUFKLQJRUGHUVIRUKRZWRSXWRXUORYHLQWRDFWLRQDQGWKH¿UVW
KDOIRIWKHYHUVHLVMXVWDVLPSRUWDQW²DQGSUREDEO\PRUHFKDOOHQJLQJ²
 Ballor & Claar 49

WKDQWKHVHFRQG5HMRLFLQJZKHQRWKHUKDYHJRRGWKLQJVKDSSHQWRWKHP
LVKDUGEXWLIZHIROORZWKHVHGLUHFWLRQVZHZLOOSHUPLWORYHWRFURZGRXW
HQY\
 &KULVWLDQ HFRQRPLVWV QHHG WR DGPLW RSHQO\ WKDW PDUNHW RXWFRPHV
EHFDXVH WKH\ DUH XQHTXDO FUHDWH RFFDVLRQV IRU HQY\ %XW ZH DOVR QHHG
WRFRPPXQLFDWHZLWKORYLQJFDUHWKDWFHQWUDOL]HGHIIRUWVWRSXUJHHQY\
ZLOOQHYHUFUHDWHVRFLDOKDUPRQ\RUHUDGLFDWHRFFDVLRQVIRUHQY\,QIDFW
PRVWVFKRODUVKLSVXJJHVWVWKDWDVDGLVWULEXWLRQQDUURZVHQY\LQWHQVL¿HV
EHFDXVHHYHQVOLJKWGLIIHUHQFHVDUHPDJQL¿HG$QGDV+ROFRPEH
PDNHVFOHDUHYHQVRFDOOHGHQY\IUHHRXWFRPHVPD\QRWEHRXWUDJHIUHH
DQGPD\LQIDFWEHXQMXVW
 7KHUHDUHWZRYDULDEOHVDWSOD\LQWKHFDOFXOXVRIHQY\RXUVDGQHVVDQG
DQRWKHU¶VJRRG(QY\FRXOGWKHRUHWLFDOO\EHHUDGLFDWHGE\GHVWUR\LQJDOO
JRRGVDVVRPHRIWKHLQLWLDWLYHVRXWOLQHGDERYHKDYHUHJUHWWDEO\VRPHWLPHV
DWWHPSWHG%XWDPRUHVRFLDOO\EHQH¿FLDODQGPRUDOO\UHVSRQVLEOHFRXUVH
RIDFWLRQLVWRIRFXVRQWKHHFRQRPLFVSLULWXDODQGFXOWXUDOFDXVHVRIHQY\
DQGWKHLUFRUUHVSRQGLQJUHPHGLHV:KDWPXVWEHHUDGLFDWHGLVRXUVDGQHVV
RXU QHJDWLYH IHHOLQJV UDWKHU WKDQ WKH JRRGV RI RWKHUV :H DUH LQ IDFW
FDOOHGDV&KULVWLDQVWRPD[LPL]HWKHJRRGVRIRWKHUVERWKVSLULWXDOO\DQG
PDWHULDOO\³7KHUHIRUHDVZHKDYHRSSRUWXQLW\OHWXVGRJRRGWRDOOSHRSOH
HVSHFLDOO\WRWKRVHZKREHORQJWRWKHIDPLO\RIEHOLHYHUV´*DO1,9
*RYHUQPHQWKDVDUROHLQSURPRWLQJVXFKYLUWXHVDWOHDVWLQVRIDUDVLWRXJKW
QRWWRSURPRWHYLFHVHLWKHUGLUHFWO\YLDSROLF\RULQGLUHFWO\YLDUKHWRULF
(YHQLI$PHULFDQVLQSDUWLFXODUKDYHEHHQLPPXQHIURPWKHGLVWRUWLQJOHQV
RIHQY\LQWKHGLVFRXUVHRISROLWLFDOHFRQRP\LWGRHVQRWPHDQWKDWWKH
¿UHVRIHQY\FDQQRWEHVWRNHGE\SROLWLFDODFWLYLVP
 &KULVWLDQHFRQRPLVWVWKHQQHHGWREHDGYRFDWHVIRUSROLFLHVWKDWOHDG
WRODVWLQJUHDOJDLQVDPRQJWKH³OHDVWRIWKHVH´DQGGLVFRXUDJHUVLQZRUG
DVZHOODVLQGHHGRIHQY\DVDZRUOGYLHZDQGDVDSODWIRUPIRUSROLWLFDO
DFWLRQ)LUVWDQGIRUHPRVW&KULVWLDQHFRQRPLVWVQHHGWRFKDPSLRQFOHDUDQG
HQIRUFHGSURSHUW\ULJKWV$V&KRLQRWHVSURSHUW\ULJKWVDUHHVVHQWLDO
WR VDIHJXDUGLQJ HQWUHSUHQHXULDO SUR¿W 0LWVRSRXORV  GHPRQVWUDWHV
WKDWHQYLRXVDJHQWVDUHIDUPRUHOLNHO\WRGLUHFWWKHLUHIIRUWVWRLPSURYLQJ
WKHLURZQFRQGLWLRQZKHQSURSHUW\ULJKWVDUHVHFXUHDQGPRUHOLNHO\WR
WHDURWKHUVGRZQRWKHUZLVH$V6KRHFNZULWHVWKHUHLVD³PHUFLIXOHIIHFW´
RISULYDWHSURSHUW\LQWKDW³LWLVQRWWKHFDXVHRIGHVWUXFWLYHHQY\´EXWLV
UDWKHU³DSURWHFWLYHVFUHHQEHWZHHQSHRSOH´S7KHHQIRUFHPHQW
RISURSHUW\ULJKWVLVWKXVDQH[DPSOHRIDSSURSULDWHJRYHUQPHQWDOSROLF\
WKDWFDQPLWLJDWHRUUHGLUHFWRWKHUZLVHVRFLDOO\GDPDJLQJFRQVHTXHQFHVRI
HQY\
50 FAITH & ECONOMICS

 %XWZHPXVWDOVRUHFRJQL]HWKHFXOWXUDODQGVSLULWXDOUHVRXUFHVWKDWDUH
QHFHVVDU\IRU¿JKWLQJHQY\7KLVPHDQVQRWUHO\LQJVROHO\RUHYHQSULPDULO\
RQSROLWLFDOLQWHUYHQWLRQVEXWUDWKHURQWKHIRUPDWLYHLQVWLWXWLRQVRIFLYLO
VRFLHW\7KHWKHRORJLFDOLQVLJKWVLQWRWKHQDWXUHRIWKHKXPDQSHUVRQVWKDW
OHDGWRZDUGVUHFRJQLWLRQRIERWKWKHQHFHVVLW\IRUDVZHOODVWKHOLPLWDWLRQV
RIH[WHUQDOFKHFNVRQWKHVSRQWDQHRXVGLVRUGHUDULVLQJRXWRIKXPDQVLQV
LQFOXGLQJHQY\FRKHUHZLWKWKHHFRQRPLF¿QGLQJVFRQFHUQLQJWKHSUDFWLFDO
GH¿FLHQFLHVRISROLF\LQWHUYHQWLRQV
 ,QGHHG UHVSRQVLEOH VRFLDO SUDFWLFH LV DW OHDVW DV VLJQL¿FDQW DV SXEOLF
SROLF\ DV D SRWHQWLDO UHVRXUFH WR PLWLJDWH RFFDVLRQV IRU HQY\ 3RVLWLYH
FXOWXUDO DWWLWXGHV WRZDUGV HQWUHSUHQHXUVKLS DQG HQWHUSULVH DUH FULWLFDO
LQRFXODWLRQVDJDLQVWWKHVRXOGHVWUR\LQJFRUUXSWLRQRIHQY\0RUHRYHUDV
%DOORUKDVFRQFOXGHGWKRVHZLWKJUHDWHUPDWHULDOZHDOWKZKRDFW
DVJRRGVWHZDUGVRIWKDWZHDOWKDUHIDUOHVVOLNHO\WREHWDUJHWVRIHQY\DQG
UHVHQWPHQWWKDQWKRVHZKRVHFRQVXPSWLRQLVSHUFHLYHGDVFRQVSLFXRXVO\
VHO¿VKDQGVHOIVHUYLQJ,IWKHUHVSHFWIRUSURSHUW\ULJKWVLVRQHLPSRUWDQW
SODQNLQDQDQWLHQY\SODWIRUPWKHQWKHHPSKDVLVRQSURSHUW\UHVSRQVLELOLW\
DQG SURSHU VWHZDUGVKLS E\ RZQHUV LV DQRWKHU 5HOLJLRXV LQVWLWXWLRQV WKDW
GLUHFWO\DGGUHVVWKHVSLULWXDOGDQJHUVRIHQY\DQGLWVIUXLWVOLNHZLVHSURYLGH
FKHFNVRQHQY\¶VGHOHWHULRXVHIIHFWV
 /DQGVEXUJXVHVDVKRUWH[DPSOHWRGHPRQVWUDWHKRZWHPSWLQJ
LWFDQEHWRXVHUHGLVWULEXWLRQWRPDNHWKHHQYLRXVIHHOOHVVSDLQEXWDOVR
KRZ PLVJXLGHG LW LV +LV H[DPSOH DOVR LOOXVWUDWHV KRZ WKH LQVWLWXWLRQ RI
WKH IDPLO\ DV D ORFXV RI VSLULWXDO DQG PRUDO IRUPDWLRQ LV LQGLVSHQVDEOH
LQ FRPEDWLQJ HQY\ /DQGVEXUJ VD\V WKDW ZH DOUHDG\ NQRZ JRRG VRFLDO
SROLF\ UHJDUGLQJ HQY\ EHFDXVH ZH DOO WHDFK LW WR RXU FKLOGUHQ ,I RQH RI
RXUFKLOGUHQLVXSVHWEHFDXVHDQRWKHUFKLOGKDVDORWRIQLFHWR\VZHQHYHU
WHOORXUFKLOGLWLVRND\WRWDNHVRPHRIWKRVHWR\VDZD\DQGVSUHDGWKHP
DURXQGVRKHDQGWKHRWKHUFKLOGUHQIHHOOHVVEDG,QVWHDGZHWHOORXUFKLOG
WKDWGRLQJVRZRXOGEHVWHDOLQJDQGWKDWKHVKRXOGEHWKDQNIXOIRUDOORI
WKHJRRGJLIWVKHDOUHDG\HQMR\V*RRGDGYLFHIRUWKHHQYLRXVFKLOGLVDOVR
JRRGDGYLFHIRUXVDOODQGZLOODOORZXVWREHKDSSLHUULFKHUDQGPRUH
WKDQNIXOIRU*RG¶VPDUYHORXVSURYLGHQFH

References

Aquinas, T.  >@ Summa theologica. )DWKHUV RI WKH (QJOLVK

'RPLQLFDQ 3URYLQFH 7UDQV 1HZ <RUN 1< %HQ]LQJHU %URWKHUV
5HWULHYHG-XQHIURPKWWSZZZFFHORUJFFHODTXLQDVVXPPD
Arjoon, S.  1DUFLVVLVWLF EHKDYLRU DQG WKH HFRQRP\ 7KH UROH RI
 Ballor & Claar 51

YLUWXHVJournal of Markets & Morality13

Arnsperger, C. (QY\IUHHQHVVDQGGLVWULEXWLYHMXVWLFHJournal of
Economic Surveys8
Augustine.  >@ Confessions and Enchiridion. $OEHUW &
2XWOHU7UDQV3KLODGHOSKLD3$:HVWPLQVWHU3UHVV5HWULHYHG
-XQH   IURP KWWSZZZFFHORUJFFHODXJXVWLQHFRQIHVVLRQV
FRQIHVVLRQVKWPO
Baker, H. 5HÀHFWLRQVRQVRFLDOMXVWLFHJRYHUQPHQWDQGVRFLHW\
Journal of Markets & Morality15
Ballor, J. 7KHPRUDOFKDOOHQJHVRIHFRQRPLFHTXDOLW\DQGGLYHUVLW\
Philosophia Reformata 78
Bandow, D.  The politics of envy: Statism as theology. 1HZ
%UXQVZLFN1-7UDQVDFWLRQ%RRNV
Bastiat, F. >@ :KDWLVVHHQDQGZKDWLVQRWVHHQ,QSelected
Essays on Political Economy SS  ,UYLQJWRQRQ+XGVRQ 1<
)RXQGDWLRQIRU(FRQRPLF(GXFDWLRQ
Bauer, P. T. (FFOHVLDVWLFDOHFRQRPLFV(QY\OHJLWLPL]HG,QReality
and rhetoric: Studies in the economics of development SS 
&DPEULGJH0$+DUYDUG8QLYHUVLW\3UHVV
Beckman, S. R., Formby, J. P., Smith, W. J., & Zheng, B. (QY\
PDOLFH DQG 3DUHWR HI¿FLHQF\ $Q H[SHULPHQWDO H[DPLQDWLRQ Social
Choice and Welfare19
Brennan, G. 3DUHWRGHVLUDEOHUHGLVWULEXWLRQ7KHFDVHRIPDOLFH
DQGHQY\Journal of Public Economics2
Charles, J. D.  9LFHDQGYLUWXHOLVWV,Q6(3RUWHUDQG&$(YDQV
(GV Dictionary of New Testament background SS 
'RZQHUV*URYH,/,93$FDGHPLF
Choi, Y. B.  (QWUHSUHQHXUVKLS DQG HQY\ Constitutional Political
Economy4
Cloutier, J., Nyman, K. L., & Su, F. E.  7ZRSOD\HU HQY\IUHH
PXOWLFDNHGLYLVLRQMathematical Social Sciences59
DeYoung, R. K. Glittering vices: A new look at the seven deadly
sins and their remedies*UDQG5DSLGV0,%UD]RV3UHVV
Duesenberry, J. S.Income, saving, and the theory of consumer
behavior.&DPEULGJH0$+DUYDUG8QLYHUVLW\3UHVV
Dykes, C.  ,V WKHUH D PRUDO EDVLV IRU FDSLWDOLVP" ,Q 0 :
+HQGULFNVRQ(GThe morality of capitalismSS,UYLQJWRQ
RQ+XGVRQ1<)RXQGDWLRQIRU(FRQRPLF(GXFDWLRQ
Elster, J. (QY\LQVRFLDOOLIH,Q5-=HFNKDXVHU(GStrategy
and choiceSS&DPEULGJH0$0,73UHVV
52 FAITH & ECONOMICS

Epstein, J. Envy: The seven deadly sins1HZ<RUN1<2[IRUG

8QLYHUVLW\3UHVV
Feldman, A., & Kirman, A.  )DLUQHVV DQG HQY\ American
Economic Review64
Foley, D. 5HVRXUFHDOORFDWLRQDQGWKHSXEOLFVHFWRUYale Economic
Essays7
Forero, J.  ,Q 9HQH]XHOD ODQG UHGLVWULEXWLRQ SURJUDP EDFN¿UHV
0RUQLQJ(GLWLRQ1DWLRQDO3XEOLF5DGLR-XO\
Galbraith, J. K. Inequality and instability: A study of the world
economy just before the great crisis1HZ<RUN1<2[IRUG8QLYHUVLW\
3UHVV
Grolleau, G., Mzoughi, N., & Sutan, A.  7KH LPSDFW RI HQY\
UHODWHG EHKDYLRUV RQ GHYHORSPHQW Journal of Economic Issues 43

Hazlitt, H.  2Q DSSHDVLQJ HQY\ Freeman 0DUFK 5HWULHYHG
$XJXVW   IURP KWWSZZZWKHIUHHPDQRQOLQHRUJIHDWXUHGRQ
DSSHDVLQJHQY\
Herdt, J. A.Putting on virtue: The legacy of the splendid vices.
&KLFDJR,/8QLYHUVLW\RI&KLFDJR3UHVV
Herreiner, D. K., & Puppe, C. D.(QY\IUHHQHVVLQH[SHULPHQWDO
IDLUGLYLVLRQSUREOHPVTheory and Decision67
Holcombe, R. G.  $EVHQFH RI HQY\ GRHV QRW LPSO\ IDLUQHVV
Southern Economic Journal63
John of Damascus.  Exposition of the Orthodox faith. 6')
6DOPRQG 7UDQV (GLQEXUJK 7 7 &ODUN 5HWULHYHG -XQH  
IURPKWWSZZZFFHORUJFFHOVFKDIIQSQILLLLKWPO
Landsburg, S. E. Fair play: What your child can teach you about
economics, values, and the meaning of life.1HZ<RUN1<7KH)UHH
3UHVV
Luce, R. D., & Raiffa, H. Games and decisions: An introduction
and critical survey.1HZ<RUN1<-RKQ:LOH\ 6RQV
Mandeville, B.  >@ The fable of the bees: Or, private vices,
SXEOLFNEHQH¿WVYROV,QGLDQDSROLV,1/LEHUW\)XQG
McCloskey, D. N. Bourgeois dignity: Why economics can’t explain
the modern world.&KLFDJR,/8QLYHUVLW\RI&KLFDJR3UHVV
Mishan, E. J. $VXUYH\RIZHOIDUHHFRQRPLFVEconomic Journal
70
Mitsopoulos, M.  (QY\ LQVWLWXWLRQV DQG JURZWK Bulletin of
Economic Research61
Mueller, J. D. 5HGHHPLQJHFRQRPLFV5HGLVFRYHULQJWKHPLVVLQJ
 Ballor & Claar 53

HOHPHQW:LOPLQJWRQ'(,6,%RRNV
Mui, V.-L. 7KHHFRQRPLFVRIHQY\Journal of Economic Behavior
and Organization26
Nozick, R.  Anarchy, state, and utopia 1HZ <RUN 1< %DVLF
%RRNV
Page, B. I. & Jacobs, L. R. &ODVVZDU":KDW$PHULFDQVUHDOO\
WKLQNDERXWHFRQRPLFLQHTXDOLW\&KLFDJR,/8QLYHUVLW\RI&KLFDJR
3UHVV
5RVH¿HOGH6Red holocaust.1HZ<RUN1<5RXWOHGJH
Schoeck, H. Envy: A theory of social behaviour.,QGLDQDSROLV,1
/LEHUW\)XQG
Short, P. Pol Pot: Anatomy of a nightmare.1HZ<RUN1<+HQU\
+ROWDQG&RPSDQ\
Stewart, C. T., Jr.  Inequality and equity: Economics of greed,
politics of envy, ethics of equality.:HVWSRUW&7*UHHQZRRG3UHVV
de Tocqueville, A.  >@ Democracy in America: Historical-
Critical Edition of De la démocratie en AmériqueDELOLQJXDO)UHQFK
(QJOLVK HGLWLRQ  YROV -7 6FKOHLIHU 7UDQV ,QGLDQDSROLV ,1
/LEHUW\)XQG
Varian, H. R.(TXLW\HQY\DQGHI¿FLHQF\Journal of Economic
Theory9
Vonnegut, K., Jr. +DUULVRQ%HUJHURQMagazine of Fantasy and
Science Fiction2FWREHU
Weede, E2QHQY\6RFLDODQGHFRQRPLFLPSOLFDWLRQV/HFWXUH
SDSHU1RYHPEHU3URJUHVV)RXQGDWLRQ5HWULHYHG$XJXVW
IURP KWWSZZZSURJUHVVIRXQGDWLRQFK3')UHIHUDWHB/HFWXUH
(ULFK:HHHBB(SGI
Zhang, X., & Y. Sang. Chinese lives.1HZ<RUN1<3DQWKHRQQ