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The Market, the Multitude and Metaphysics: Ronald Preston's Middle Way and the Theological Critique of Economic Reason

The European post-Marxist work Empire by Hardt and Negri points to the theological/metaphysical underpinnings of modernity and global capitalism in the medieval shift from Trinitarian orthodoxy to nominalism. Though Hardt and Negri reject religious or transcendental approaches to the social, their work shows remarkable resemblances with the ontological critique of modernity and economism mounted by John Milbank and Stephen Long among others. By contrast the considerable oeuvre of Ronald Preston on capitalism lacks a deep ontological critique. The return of ontology to theological economics in recent contributions from Gorringe, Long, Milbank and Northcott marks a significant recovery of a more theological orthodoxy, but also a more thoroughgoing critique of economism whether in capitalist or socialist guise. It is moreover a critique which highlights the significance of the economic actions of churches and Christians.

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