Notes

Preface

1. William E. Connolly, A World of Becoming (Durham, NC: Duke University Press, 2011), 113; emphasis added.

2. Giorgio Agamben, The Coming Community, trans. Michael Hardt (Minneapolis: University of Minnesota Press, 1993), 44.

3. Jan Patočka, Heretical Essays in the Philosophy of History, trans. Erazim Kohák (Chicago, IL: Open Court Publishing, 1996); Body, Community, Language, World, trans. Erazim Kohák (Chicago, IL: Open Court Publishing, 1998).

4. Franco “Bifo” Beradi, The Soul at Work: From Alienation to Autonomy, trans. Francesca Cadel and Giuseppina Mecchia (Los Angeles: Semiotext(e), 2007), 9–10, 16, 21, 24, 109, 115–16, 133, 139, 192, 195, 200, 207, 218.

5. Beradi, The Soul at Work, back cover.6. Beradi, The Soul at Work, 21.7. A financialized or marketized citizen is one who is totally in sync with the

demands of the market, who overcomes her alienation from the market by internalizing the rationality of the market into her personal life, making her-self the handmaiden of the invisible hand of the market, or one who prides herself as capable of participating in the market with an inner distance.

8. Here I am alluding to G. K. Chesterton, The Everlasting Man (San Francisco: Ignatius Press, 1993), 36.

9. Nassim Nicholas Taleb, Antifragile: Things That Gain from Disorder (New York: Random House, 2012).

10. Taleb, Antifragile, 63.11. Nimi Wariboko, The Principle of Excellence: A Framework for Social Ethics

(Lanham, MD: Lexington Books, 2009).12. Jean-Luc Nancy, Adoration: The Deconstruction of Christianity II, trans.

John McKeane (New York: Fordham University Press, 2013), 47–49, 59, 65, 102–104.

13. Nancy, Adoration, 60.

Notes186

Introduction: Economics Is Not an Alien Monster

1. G. W. F. Hegel, Phenomenology of Spirit, trans. A. V. Miller (Oxford: Oxford University Press, 1977), 19, §32. Here I have offered the translation given in Jürgen Moltmann, Ethics of Hope, trans. Margaret Kohl (Minneapolis: Fortress Press, 2012), 63.

2. Moltmann, Ethics of Hope, 9.3. These are taken from Moltmann, Ethics of Hope, 9–41.4. Moltmann, Ethics of Hope, 17.5. Moltmann, Ethics of Hope, 21.6. Andrew Clark and Jill Treanor, “Greenspan—I was wrong about the econ-

omy. Sort of,” Guardian, October 23, 2008, http://www.guardian.co.uk/business/2008/oct/24/economics-creditcrunch-federal-reserve-greenspan (accessed on August 15, 2012).

7. Moltmann, Ethics of Hope, 5.8. For an admirable discussion of the history of Western thought on the human

soul, see Stewart Goetz and Charles Taliaferro, A Brief History of the Soul (West Sussex, UK: Wiley-Blackwell, 2011).

9. Moltmann, Ethics of Hope, 41.10. Moltmann, Ethics of Hope, 3.11. Nassim Nicholas Taleb, The Black Swan: The Impact of the Highly Improbable

(New York: Random House, 2010).12. Dieter Henrich, Between Kant and Hegel: Lectures in German Idealism, ed.

David S. Pacini (Cambridge: Harvard University Press, 2003), 56–58.

1 The Idea of Finance

1. Slavoj Žižek, Less than Nothing: Hegel and the Shadow of Dialectical Materialism (London: Verso, 2012), 247.

2. Žižek, Less than Nothing, 649.3. Mark Granovetter, “Economics Action and Social Structure: The Problem

of Embeddeness,” American Journal of Sociology 91, no. 3 (1985): 481–510; Amartya Sen, “Rational Fools: A Critique of the Behavioral Foundations of Economic Theory,” Philosophy and Public Affairs 6, no. 4 (1977): 317–44; On Ethics and Economics (Malden, MA: Blackwell Publishing, 1988).

4. This notation is used to mark off strategic interventions in the flow of argu-ments in each section or chapter. It flags ideas that are well connected to the discourse at hand to deter posting them in the footnotes, but require a set-apart textual space to reveal their inner synchronicity with the ongoing development of an argument. In general, each aside aims to flesh out, deepen, and broaden key ideas and concepts in the book.

5. Jacques Rancière, Hatred of Democracy, trans. Steve Corcoran (London: Verso, 2006), 41.

Notes 187

6. In Egom’s thinking the universal metric of economic progress in order to be fully actualized has to be embodied in contingent set of economic activities that serves both as an example and full actuality of the metric.

7. Peter Alexander Egom, Economic Mind of God (Lagos: Adioné Publishers, 2007) and Economics of Justice and Peace (Lagos: Adioné Publishers, 2007).

8. This is paragraph was inspired by Žižek, Less than Nothing, 36–37.9. Žižek, Less than Nothing, 37; italics in the original.

10. See Giles Deleuze, The Logic of Sense, trans. Mark Lester with Charles Stivale (New York: Columbia University Press, 1990).

11. Žižek, Less than Nothing, 39.12. G. W. F. Hegel, Phenomenology of Spirit, trans. A. V. Miller (Oxford: Oxford

University Press, 1977), 89, quoted in Žižek, Less than Nothing, 37; italics are in the original.

13. Žižek, Less than Nothing, 37.14. Žižek, Less than Nothing, 37.15. A financial product is a veil of nothing, a package that conceals the void of

the ground of money. It “is like a veil, a veil which veils nothing—its function is to create the illusion that there is something hidden beneath the veil” (see Žižek, Less than Nothing, 46, for the quote). In a broader sense, financial prod-ucts can produce the illusions of both Zeuxis’s and Parrhasius’s paintings.

16. Žižek, Less than Nothing, 32; italics in the original.17. Jacques Rancière, Disagreement: Politics and Philosophy, trans. Julie Rose

(Minneapolis: University of Minnesota Press, 1998), 6.18. Rancière, Disagreement, 13.19. Rancière, Disagreement, 9.20. Rancière, Disagreement, 9.21. Rancière, Disagreement, 18.22. Rancière, Disagreement, 11.23. The distinction between “infinity” and “totality” here alludes to Emmanuel

Levinas’s usage but does not reproduce it. Zero refers to surplus, excess as implied by the null set in set theory. One is the count-of-one that defines and limits a situation; is the establishment of order that encompasses everything. Here I use the term “morality” to mean careful calculations of interest and consequences within a predetermined harmonious whole. Ethics forgoes calculations to pursue the logical obligations of one’s desires or fidelity to an event or truth.

24. Nimi Wariboko, God and Money: A Theology of Money in a Globalizing World (Lanham, MD: Lexington Books, 2008), 73–96.

25. Peter Hallward, Badiou: A Subject to Truth (Minneapolis: University of Minnesota Press, 2003), 257–58.

26. Hallward, Badiou, 95.27. Hallward, Badiou, 38.28. Hallward, Badiou, 39.29. In the following discussion of these three elements I will draw heavily, albeit

crudely, from Alain Badiou’s discourse on “philosophical institution.” See Alain Badiou, Conditions, trans. Steven Corcoran (London: Continuum International Publishing Group, 2008), 27–28.

Notes188

30. Badiou, Conditions, 27.31. Badiou, Conditions, 27.32. Badiou, Conditions, 28.33. Žižek, Less than Nothing, 459. This is an adaptation of Žižek’s sentence.34. Žižek, Less than Nothing, 459.35. A means is pure precisely because its in-order-to has not yet been decided.

A decided means is no longer a pure means. For instance, worship as a pure means is a courageous openness whose validity defies all purposive articula-tion but represents the commitment of the participants whose self-realization lies in self-transcendence. When worship tries to be useful, placed in the ser-vice of utilitarian purpose or particular ambition, it falls to the level of profit-ability or ritual action, abandoning its openness to surprises. Pure means is not the opposite of means or ends, but condition of their possibility.

36. Žižek, Less than Nothing, 229–31.37. Jan Patočka, Heretical Essays in the Philosophy of History, trans. Erazim Kohák

(Chicago, IL: Open Court Publishing, 1996), 27.38. Patočka, Heretical Essays, 56–57. See also Erazim Kohák, Jan Patočka:

Philosophy and Selected Writings (Chicago, IL: University of Chicago Press, 1989), 123.

39. Patočka, Heretical Essays; Jan Patočka, Body, Community, Language, World, trans. Erazim Kohák (Chicago, IL: Open Court Publishing, 1998).

40. Kohák, Jan Patočka, 33; Patočka, Body, Community, Language, World, 154–56; Patočka, Heretical Essays, 23.

41. Patočka, Body, Community, Language, World, 160.42. Jan Patočka, Plato and Europe, trans. Petr Lom (Stanford, CA: Stanford

University Press, 2002).43. Edward F. Findlay, Caring for the Soul in a Postmodern Age: Politics and

Phenomenology in the thought of Jan Patočka (Albany: State University of New York, 2002), 53.

44. Alain Badiou, Being and Event, trans. Oliver Feltham (New York: Continuum, 2005). See also Kenneth A. Reynhout, “Alain Badiou: Hidden Theologian of the Void?,” Heythrop Journal, LII (2011), 219–23.

45. Hallward, Badiou, 65; italics in the original.46. Hallward, Badiou, xxvi.47. See Badiou, Being and Event. “First, whatever is presented must be presented

as one, that is, it must be structured in such a way that it can be counted as one: Badiou defines a situation, in the most general sense, as the result of any such structuring or counting operation. To exist is to belong to a situa-tion, and within any situation there is normally no chance of encountering anything unstructured, that is, anything that cannot be counted as a one. Second, we know nonetheless that this operation is a result, and that what-ever was thus structured or counted as one is not itself one, but multiple” (Hallward, Badiou, 64).

48. “The present implies space. Time creates the present through its union with space. In this union time comes to a standstill because there is something on which to stand. Like time, space unites being with nonbeing . . . To be means

Notes 189

to have space” (Paul Tillich, Systematic Theology: Reason and Revelation, Being and God, vol. 1 [Chicago, IL: University of Chicago Press, 1951], 194).

49. This for Badiou is the “immanent excess of parts over elements.”50. Hallward, Badiou, 14.51. Jean-Luc Nancy, Dis-Enclosure: The Deconstruction of Christianity, trans.

Bettina Bergo, Gabriel Malenfant, and Micheal B. Smith (New York: Fordham University Press, 2008), 152–54.

52. For an admirable discussion of politics-as-statecraft and politics-as-soulcraft, see the dissertation of Bradley B. Burroughs, “Christianity, Politics, and the Predicament of Evil: A Constructive Ethic of Soulcraft and Statecraft,” PhD Dissertation, Emory University, Atlanta, September 2012.

2 Theological-Ethical Critique of Accounting

1. John D. Caputo, Against Ethics (Bloomington: Indiana University Press, 1993),111.

2. Jacques Derrida Dissemination, trans. Barbara Johnson (London: The Athlone Press, 1981), 233; quoted in Robert Eaglestone, Ethical Criticism: Reading after Levinas (Edinburgh: University of Edinburgh Press, 1997), 46.

3. Eaglestone, Ethical Criticism, 94.4. Daniel Born, The Birth of Liberal Guilt in the English Novel: Charles Dickens to

H. G. Wells (Chapel Hill: University of North Carolina Press, 1995), 40–41.5. Jean-Luc Nancy, Dis-Enclosure: The Deconstruction of Christianity, trans.

Bettina Bergo, Gabriel Malenfant, and Michael B. Smith (New York: Fordham University Press, 2008), 153; italics in the original.

6. Janet T. Jamiesen and Philip D. Jamiesen, Ministry and Money: A Practical Guide for Pastors (Louisville, KY: Westminster John Knox Press, 2009), 162.

7. Jamiesen and Jamiesen, Ministry and Money, 162.8. Miroslav Volf, Free of Charge: Giving and Forgiving in a Culture Stripped of

Grace (Grand Rapids, MI: Zondervan, 2005), 57; italics in the original.9. Volf, Free of Charge, 57; italics in the original.

10. Volf, Free of Charge, 56; italics in the original.11. Volf, Free of Charge, 84; italics in the original.12. Volf, Free of Charge, 57.13. Volf, Free of Charge, 58.14. John D. Caputo, Deconstruction in a Nutshell: A Conversation with Jacques

Derrida (New York: Fordham University Press, 1997), 123.15. Michael J. Sandels, What Money Can’t Buy: The Moral limits of Markets (New

York: Farrar, Straus and Giroux, 2012), 132.16. Friedrich Nietzsche, “The Genealogy of Morals,” in The Birth of Tragedy and The

Genealogy of Morals, trans. Francis Golffing (Garden City, NY: Doubleday, 1956), 195.

17. Jacques Derrida, The Gift of Death and Literature in Secret, trans. by David Wills (Chicago, IL: University of Chicago Press, 2008), 67, italics in the original.

Notes190

18. Anaximander DK fragment B; quoted in Martha Nussbaum, Sex and Social Justice (Oxford: Oxford University Press, 1999), 157.

19. Nussbaum, Sex and Social Justice, 159; italics in the original.20. The philosophical analyses of this section of the chapter was inspired by Slavoj

Žižek, Less than Nothing: Hegel and the Shadow of Dialectical Materialism (London: Verso, 2012).

21. See Nimi Wariboko, God and Money: A Theology of Money in a Globalizing World (Lanham, MD: Lexington Books, 2008).

22. Michel Foucault, Power/Knowledge: Selected Interviews and Other Writings 1972–1977, ed. Colin Gordon, trans. Colin Gordon et al. (New York: Patheon, 1980), 98. In this paragraph I have closely followed Foucault’s description to describe the influence of the accounting ground norm.

23. Lamin Sanneh, Translating the Message: The Missionary Impact on Culture, Second Edition, Revised and Expanded (Maryknoll, NY: Orbis Books, 2009), 33.

24. I have adapted Sanneh’s words to suit my purpose here. See his Translating the Message, 33.

25. Sanneh, Translating the Message, 33.26. Sanneh, Translating the Message, 34.

3 The Ontology of Moral Hazard in Finance

1. This chapter began its life as a paper delivered at the symposium on “The Ontology of Moral Hazard in Finance,” An Interdisciplinary Workshop at the 7th Infiniti Conference on International Finance, Trinity College, Dublin, Ireland, on June 8, 2009. I would like to thank Professors Linda Hogan and Khurshid Ahmad for inviting me to the conference.

2. Søren Kierkegaard, The Sickness Unto Death, trans. Howard and Edna Hong (Princeton, NJ: Princeton University Press, 1987); and David Kangas, “Kierkegaard,” in John Corrigan (ed.), The Oxford Handbook of Religion and Emotion, pp. 380–403 (Oxford: Oxford University Press, 2008).

3. See Alain Badiou, Being and Event, trans. Oliver Feltham (London: Continuum, 2005). “First, whatever is presented must be presented as one, that is, it must be structured in such a way that it can be counted as one: Badiou defines a situa-tion, in the most general sense, as the result of any such structuring or count-ing operation. To exist is to belong to a situation, and within any situation there is normally no chance of encountering anything unstructured, that is, anything that cannot be counted as a one. Second, we know nonetheless that this operation is a result, and that whatever was thus structured or counted as one is not itself one, but multiple” (Peter Hallward, Badiou: A Subject to Truth [Minneapolis: University of Minnesota Press, 2003], 64).

4. “The present implies space. Time creates the present through its union with space. In this union time comes to a standstill because there is something on which to stand. Like time, space unites being with nonbeing . . . To be means to have space” (Paul Tillich, Systematic Theology: Reason and Revelation, Being and God, vol. 1 [Chicago: University of Chicago Press, 1951], 194).

Notes 191

5. This for Badiou is the “immanent excess of parts over elements.”6. Hallward, Badiou, 64–65.7. Hallward, Badiou, 66.8. Hallward, Badiou, 14.9. Hallward, Badiou, 33.

10. Mark C. Taylor, Confidence Games: Money and Markets in World without Redemption (Chicago: University of Chicago Press, 2004), 61.

11. Georg W. F. Hegel, Philosophy of Right, trans. T. M. Knox (Oxford: Oxford University Press, 1967), para. 5. 21.

12. Terry Eagleton, Holy Terror (Oxford: Oxford University Press, 2005), 71, quoted in Rowan Williams, Dostoevsky: Language, Faith, and Fiction (Waco, TX: Baylor University Press, 2008), 11.

13. See Williams, Dostoevsky.14. This nature appears akin to life as conceived by Colin E. Gunton, Father, Son

and Holy Spirit: Toward a Fully Trinitarian Theology (London: T & T Clark, 2003), 134–37. See also Wolfhart Pannenberg, “The God of Hope,” in Basic Questions in Theology, vol. 2 (London: SCM Press, 1971), 234–49.

15. Alternatively, one can argue that money’s being is not in its becoming. For the fact that it refuses to pass away (when the imagined future arrives the value of the asset would still be based on expectations of what it would yet be in a further imagined future), the being is in its coming. Value as conceived in valuation techniques of assets is always on the move and coming toward the asset owner. As the coming value, the present and past are set in the light of the future. Value (the present value of assets as calculated by the discounted cashflow method) “flows” out of the future into the present. It has the future in its being, so to speak with tongue in cheek. For a theological play on the words “coming” and “becoming” by Jürgen Moltmann, see his The Coming of God: Christian Eschatology, trans. Margaret Kohl (Minneapolis, MN: Fortress, 1996), 13, 23–24.

16. Philip Goodchild, “Capital and Kingdom: An Eschatological Ontology,” in Creston Davies, John Milbank, and Slavoj Žižek (eds.), Theology and the Political: The New Debate, p. 143 (Durham, NC: Duke University Press, 2005).

17. James Buchan, Frozen Desire: The Meaning of Money (New York: Welcome Rain Publishers, 2001), 61.

18. Ernst Bloch, The Principle of Hope, vols. 1–3, trans. Neville Plaice, Stephen Plaice, and Paul Knight (Cambridge: The MIT Press, 1995), 1–3, 196–97, 206; and Jürgen Moltmann, Theology of Hope: On the Ground and the Implications of a Christian Eschatology (Minneapolis, MN: Fortress Press, 1993), and his The Coming of God.

19. Slavoj Žižek, Less than Nothing: Hegel and the Shadow of Dialectical Materialism (London: Verso, 2012), 246.

20. See Nimi Wariboko, God and Money: A Theology of Money in a Globalizing World (Lanham, MD: Lexington Books, 2008), 108, 111.

21. Wariboko, God and Money, 73–112.22. Jocelyn Pixley, Emotions in Finance: Distrust and Uncertainty in Global Markets

(Cambridge, MA: Cambridge University Press, 2004), 3.

Notes192

23. Pixley, Emotions in Finance, 2.24. John Maynard Keynes, “The General Theory of Employment,” Quarterly

Journal of Economics, no. 51 (2) (February 1937): 209–23, quote on 214, ital-ics in the original.

25. Pixley, Emotions in Finance, 29.26. John Maynard Keynes, The General Theory of Employment, Interest, and Money

(Orlando, FL: Harcourt Bruce Jovanovich Publishers, 1953), 161–62.27. Philip Goodchild, Theology of Money (London: SCM Press, 2007).28. “Any money exchange society is said to have a money-flows structure of three

inter-dependent markets. First is the currency market where its central bank produces and distributes much of either public-sector and interest-based debt money or private-sector and interest-free commodity money as its medium of exchange. Second is the financial market where its central bank bunches its savings either at the short-end or the medium-long-end of the term spectrum of its savings instruments. And third is the industrial market where its central bank uses its currency to grow much of local content or much of foreign con-tent” (Peter Alexander Egom, Economics of Justice and Peace [Lagos, Nigeria: The Equal Opportunity Publishers, 2007], xxi).

29. Goodchild, Theology of Money, 41.30. Paul Tillich, Theology of Culture, ed. Robert Kimball (New York: Oxford

University Press, 1964), 32–33.31. Tillich, Systematic Theology, 227.32. This analysis was inspired by Goodchild, Theology of Money, 227–32.33. Goodchild, Theology of Money, 229.34. Žižek, Less than Nothing, 111.35. Achille Mbembe, “Life, Sovereignty, and Terror in the Fiction of Amos

Tutuola,” Research in African Literatures 34, no. 4 (Winter 2003): 4.36. Jean-Pierre Vernant, Mortals and Immortals: Collected Essays (Princeton, NJ:

Princeton University Press, 1991), 141.37. Mark C. Taylor, After God (Chicago, IL: University of Chicago Press, 2007), 234.38. Philip Goodchild, “Debt, Epistemology and Ecotheology,” Ecotheology 9,

no. 2 (2004): 151–77.39. Goodchild, “Debt, Epistemology and Ecotheology, 170.40. See Clifford Sharp, The Economics of Time (Oxford: Martin Robertson and

Company, 1981), Chapter 7; and R. C. Lind, “A Primer on the Major Issues Relating to the Discount Rate for Evaluating Energy Options,” in R.C. Lind et al. (eds.), Discounting for Time and Risk in Energy Policy (Washington, DC: Resources for the Future, 1982), 21–114.

41. Taylor, After God, 355.42. I would like to thank Professor Max Stackhouse who inspired me to make

this clarification after reading an earlier version of this chapter on April 20, 2009.

43. Goodchild, Theology of Money, 72.44. Michel Foucault, “Afterword: The Subject and Power,” in Hubert L.

Dreyfus and Paul Rabinow (eds.), Michel Foucault: Beyond Structuralism and Hermeneutics, p. 223 (New York: Pantheon, 1982).

Notes 193

45. Michel Foucault, The Will to Knowledge: The History of Sexuality, vol. 1 (London: Penguin, 1998), 95–96.

46. Goodchild, Theology of Money, 189, 5.47. Goodchild, Theology of Money, 133.48. William T. Cavanaugh, Being Consumed: Economics and Christian Desire

(Grand Rapids: William B. Eerdmans Publishing Company, 2008), 49.49. The issue of ethical orientation for Egom concerns questions surrounding whether

or not overall management of money in any given economy is aligned with the “trinitarian principles” of value integrity (for currency management), financial solidarity (financial and savings flows), and subsidiarity (for industrial and com-modity production). See Egom, Economics of Justice and Peace, 5–41, 179–216.

50. Peter Alexander Egom, Economic Mind of God (Lagos, Nigeria: The Equal Opportunity Publishers, 2007), 11–12. See also his Economics of Justice and Peace, 50.

51. Ben Anderson, “‘Transcending without Transcendence’: Utopianism and an Ethos of Hope,” Antipode 38, no. 4 (2006): 691–710; quote on 704.

52. “Prophetic spirit is a way of being that is always at work broadening and deepening the horizon of our lives and, in the process, giving rise to ever new awareness of breadth and depth in our understanding of being” (Mark Lewis Taylor, Religion, Politics, and the Christian Right: Post 9/11 Powers and American Empire [Minneapolis, MN: Fortress Press, 2005], 97).

53. Marieke De Goede, Virtue, Fortune, and Faith: A Genealogy of Finance (Minneapolis: University of Minnesota Press, 2005), 175–76.

54. See Egom, Economics of Justice and Peace.

4 Faith Has a Rate of Return

1. I have adapted the words and phrases of Nikolas Rose for my purpose. Nikolas Rose, “Governing by Numbers: Figuring Out Democracy,” Accounting Organizations and Society 16, no. 7 (1991): 691.

2. Peter Hallward, Badiou: A Subject to Truth (Minneapolis: University of Minnesota Press, 2003), 39.

3. Bill Maurer, “Repressed Futures: Financial Derivatives’ Theological Unconscious,” Economy and Society 31, no. 1 (2002): 15–36.

4. Amos Yong, “A Typology of Prosperity Theology: A Religious Economy of Renewal or a Renewal Economics?” in Pentecostalism and Prosperity: The Socio-Economics of the Global Charismatic Movement, Christianities of the World 1, ed. Amos Yong and Katy Attanasi (New York: Palgrave Macmillan, 2012), 15–33.

5. Of course, there is no biblical basis for this concept.6. Daniela C. Augustine, “Pentecost and Prosperity in Eastern Europe: Between

Sharing of Possessions and Accumulating Personal Wealth,” in Pentecostalism and Prosperity, eds. Yong and Attanasi, 203.

7. CAPM (capital asset pricing model) measures the theoretically required rate of return of an asset. Simply put it, it is a way of pricing stock, security, or

Notes194

a portfolio. “CAPM states that opportunity cost or the expected return on equity (security) is equal to the risk free rate of return plus a risk premium. The risk premium is measured by a systematic risk indicator (beta) multiplied by the market-price of risk . . . The risk free rate is the return in a portfolio with no default risk. It is usually taken to be or approximated by, the treasury bill rate or the treasury bond rate or the minimum rediscount rate . . . Beta stands for systematic risk, and it measures the correlation between return on a firm’s stock and that of the market portfolio” (Nimi Wariboko, Principles and Practice of Bank Analysis and Valuation [Ibadan, Nigeria: Spectrum, 1994], 105–106).

8. There are two arrows of time in nature and human systems. The forward-pointing arrow is the self-organizing principle. The backward-pointing arrow is the second law of thermodynamics. The critical point between the two—the bifurcation juncture—is occupied by humankind.

9. Benoit Mandelbrot and Richard L. Hudson, The (Mis)Behavior of Markets: A Fractal View of Financial Turbulence (New York: Basic Books, 2004), 157.

10. The very practice of taking testimonies or reports from self-selected success cases serves to filter out those for whom the message did not work. Testimonies taken in this way “prewhiten” the data, normalizing them for consumption, and fitting them to their message. The “normal” testimonies are not normal.

11. Mandelbrot and Hudson, (Mis)Behavior of Markets, 121.12. The formula is an adaption of the capital asset pricing model (CAPM).13. See Asonzeh Ukah, ‘“Those Who Trade with God Never Lose’: The

Economics of Pentecostal Activism in Nigeria,” in Christianity and Social Change in Africa: Essays in Honor of J. D. Y. Peel, ed. Toyin Falola (Durham, NC: Carolina Academic Press, 2005), 253–74.

14. This relationship is not only defined or conditioned by giving, but it is also defined by obedience to God, holiness, belief in the “name-it-and-claim-it” style of spirituality, the anointing of the preacher, and the fertility of the soil he or she is providing for the sowing. Of course, there is always the potential risk of sin, both personal and ancestral, that can foul one’s relationship with the Holy Spirit.

15. If we consider carefully the notion of the Holy Spirit that attends the invest-ment formula, He can be considered the community of believers brought into existence after the resurrection of Jesus Christ, as per Hegel. The Holy Spirit can also be conceptualized as the set of adaptive interactions between the Godhead and humans (and creation in its entirety).

16. Robin Horton, Patterns of Thought in Africa and the West: Essays on Magic, Religion and Science (Cambridge: Cambridge University Press, 1993), 239.

17. D. Knights and T. Vurdubakis, “Calculations of Risk: Towards an Understanding of Insurance as a Moral and Political Technology,” Accounting Organizations and Society 18, nos. 7/8 (1993), 734.

18. “Referential terms are words that refer to things. Indexical terms are words that refer to the aspect, or truth-value, or spatio-temporal co-ordinates of the things that other words refer to, such as ‘that’ or ‘here.’” Maurer, “Repressed Futures,” 17.

Notes 195

19. Maurer, “Repressed Futures,” 29.20. Irving Pfeffer, Insurance and Economic Theory (Homewood, IL: Richard

Irving, 1956), 42; quoted in Knights and Vurdubakis, “Calculations of Risk,” 730.

21. Knights and Vurdubakis, “Calculations of Risk,” 730.22. Rose, “Governing by Numbers,” 673. I have adapted his words from a differ-

ent context.23. Stephen Green, “Negotiating with the Future: The Culture of Modern Risk

in Global Financial Markets,” Environment and Planning D: Society and Space 18 (2000), 77; quoted in Maurer, “Repressed Futures,” 19.

24. This is small in comparison to the possible gain.25. For an extensive discussion of the Pentecostal principle, see Nimi Wariboko,

The Pentecostal Principle: Ethical Methodology in New Spirit (Grand Rapids, MI: Eerdmans, 2012).

26. Some pentecostal ministries have created capital assets and invested in busi-nesses from the “revenues” generated from offerings. This statement should not be construed to mean that I support the milking of poor folks for the sake of accumulating investable funds. Nor do I endorse reverse trickle-down economics.

27. Donald E. Miller and Tetsunao Yamamori, Global Pentecostalism: The New Face of Christian Social Engagement (Berkeley: University of California, 2007).

28. There are strong similarities between the Pentecostal principle and the description of the bourgeois spirit in Karl Marx and Friedrich Engel’s The Communist Manifesto (London: Verso, 1998), 38–39. The passage starts from “The bourgeoisie cannot exist without constantly revolutionizing the instru-ments of production” (p. 38) and ends at “National one-sidedness and nar-row-mindedness becomes more and impossible, from the numerous national and local literatures, there arises a world literature” (p. 39). This insight occurred to me only on January 31, 2011, when I read this passage again in a book.

29. For a response to this kind of question, see David Martin, “Another Kind of Cultural Revolution,” in Faith on the Move: Pentecostalism and its Potential Contribution to Development, Centre for Development and Enterprise Workshop Proceedings No. 2, ed. Roger Southall and Stephen Rule (Johannesburg: CDE, August 2008), 8–19. As he puts it on p. 12 of his essay, economists “may be interested in people who refuse to be victims, organize for mutual assis-tance, and foster aspirations as a battalion of irregulars in the war on poverty. Pentecostals all over the globe believe they are empowered by the Holy Spirit to overcome the spirit of poverty.”

30. Charles Taylor, Sources of the Self: The Making of the Modern Identity (Cambridge: Harvard University Press, 1989), 76–90.

31. Taylor, Sources of the Self, 76–77.32. Hannah Arendt, The Human Condition (Chicago, IL: University of Chicago

Press, 1958), 28–61, 111, 126, 209.33. Jean-Luc Nancy, Being Singular Plural, trans. Robert D. Richardson and

Anne E. O’Byrne (Stanford: Stanford University Press, 2000), 135.

Notes196

5 The Knot of Finance

1. Nassim Nicholas Taleb, Antifragile: Things That Gain from Disorder (New York: Random House, 2012).

2. World Bank, Global Financial Development Report 2013: Rethinking the Role of State in Finance (Washington, DC: World Bank, 2012), xi.

3. World Bank, Global Financial Development, 18.4. Janvier D. Nkurunziza, “Illicit Financial Flows: A Constraint on Poverty

Reduction in Africa,” Concerned African Scholars 87 (Fall 2012): 16.5. Léonce Ndikumana and James Boyce, “Rich Presidents of Poor Nations:

Capital Flight from Resource-Rich Countries in Africa,” Concerned African Scholars 87 (Fall 2012): 4.

6. James Boyce and Léonce Ndikumana, “Debt Audits and the Repudiation of Odious Debts,” Concerned African Scholars 87 (Fall 2012): 36.

7. Nicholas Shaxson, “Tax Havens: An Emerging Challenge to Africa’s Development Financing,” Concerned African Scholars 87 (Fall 2012): 55.

8. Nassim Nicholas Taleb, “Learning to Love Volatility,” Wall Street Journal, November 16, 2012, http://online.wsj.com/article/SB10001424127887324735104578120953311383448.html (accessed December 12, 2012).

9. Nassim Nicholas Taleb, “Economic Recovery: Perils, Policies and Possibilities,” speech at Princeton University, April 10, 2012, http://www.valuewalk .com/2012/04/nassim-talebs-talk-at-princeton (accessed December 24, 2012).

10. Taleb, “Learning to Love Volatility.”11. Ralph Nader, “Having ‘Skin in the Game,’” truthdig, December 6, 2012, http://

www.truthdig.com/report/item/having_skin_in_the_game_20121206/?utm _source=twitterfeed&utm_medium=twitter (accessed December 12, 2012).

12. Taleb, Antifragile, 375.13. Richard Murphy, “The Benefits of Country-by-Country Reporting,”

Concerned African Scholars 87 (Fall 2012): 44.14. Murphy, “Benefits of Country-by-Country Reporting,” 44, 45.15. Taleb, “Learning to Love Volatility.”16. Friedrich A. Hayek, Law, Legislation and Liberty: Volume 1: Rules and Order

(Chicago, IL: University of Chicago Press, 1973), 108.17. “For the resulting order to be beneficial people must also observe some con-

ventional rules, that is, rules which do not simply follow from their desires and their insight into relations of cause and effect, but which are normative and tell them what they ought to or ought not to do”( Hayek, Law, Legislation and Liberty, Vol. 1, 45).

18. Hayek, Law, Legislation and Liberty, Vol. 1, 44.19. Hayek, Law, Legislation and Liberty, Vol. 1, 45–46.20. Mark C. Taylor, After God (Chicago, IL: University of Chicago Press, 2007),

339, 342.21. Hayek, Law, Legislation and Liberty, Vol. 1, 12; italics in the original.22. Friedrich A. Hayek, Law, Legislation and Liberty: Volume 2: The Mirage of

Social Justice (Chicago, IL: University of Chicago Press, 1976), 110. He argues that competition will do a better job of managing dispersed information

Notes 197

than what one person or authority can ever do. In Friedrich A. Hayek, Law, Legislation and Liberty: Volume 3: The Political Order of a Free People (Chicago, IL: University of Chicago Press, 1979), 68–69, he writes,

Competition must be seen as a process in which people acquire and communicate knowledge; to treat it as if all this knowledge were avail-able to any one person at the outset is to make nonsense of it. And it is as nonsensical to judge the concrete results of competition by some pre-conception of the products it “ought” to bring forth as it would be to judge the results of scientific experimentation by their correspondence with what had been expected. As is true of results of scientific experi-mentation, we can judge the value of results only by the conditions under which it was conducted, not by the results . . . Indeed, competi-tion is of value precisely because it constitutes a discovery procedure which we would not need if we could predict its results.

Hayek’s preference for competition should not be interpreted to mean that he is against helping the poor and needy to get along in any economy. He sup-ports the state ensuring a minimum standard of living. See pp. 55 and 61 of Law, Legislation and Liberty, Vol. 3 and The Constitution of Liberty (Chicago, IL: University of Chicago Press, 1960). Hayek adamantly opposes class privilege and corporate welfare. If he were alive today, he would berate the largesse that corpo-rations enjoy from governments, as David Cay Johnson points out in his recent book, Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (And Stick You with the Bill) (New York: Penguin Group, 2007).

23. “That rules in this sense exist and operate without being explicitly known to those who obey them applies also to many of the rules which govern the actions of men and thereby determine a spontaneous social order. Man cer-tainly does not know all the rules which guide his actions in the sense that he is able to state them in words” (Hayek, Law, Legislation and Liberty, Vol. 1, 43).

24. Hayek, Law, Legislation and Liberty, Vol. 1, 30.25. Hayek, Law, Legislation and Liberty, Vol. 1, 29. On this issue of design versus

spontaneously evolved social institutions, please also see Hayek’s Constitution of Liberty, 23, 29, 40, 57, 59, 61, 62–63, 111, 159–61, 392–93.

26. Hayek, Law, Legislation and Liberty, Vol. 2, 29.27. Gibson Winter, Community and Spiritual Transformation: Religion and Politics

in a Communal Age (New York: Crossroad Publishing, 1989), 104.28. See Nimi Wariboko, God and Money: A Theology of Money in a Globalizing

World (Lanham, MD: Lexington Books, 2008).29. My analysis is drawn from Paul Tillich, Love, Power and Justice: Ontological

Analyses and Ethical Applications. (London: Oxford University Press, 1954), 25–34, 116.

30. See Wariboko, God and Money, Chapter 4.

6 A Political Theology of Market Miracles

1. What economists call the production possibilities frontier (hereafter PPF) is a graph (with a bow-out curvature) that shows the most optimal allocation of

Notes198

resources in an economy given the effects of diminishing returns on produc-tion. The graph shows how the total number of output changes as different allocations of labor and capital are made.

2. This explanation of PPF is indebted to Giorgio Agamben’s description of the weak messianic force. See his The Coming Community, trans. Michael Hardt (Minneapolis: University of Minnesota Press, 1993), 52–54.

3. Nimi Wariboko, The Pentecostal Principle: Ethical Methodology in New Spirit (Grand Rapids, MI: Eerdmans, 2012).

4. It is produced as a currency, coins, credit cards, derivatives, bytes, loans, and so on. It is traded as a commodity in the foreign exchange and loan markets.

5. Karl Marx, Grundrisse, trans. Martin Nicolaus (Harmondsworth: Penguin, 1973), 165.

6. For a discussion of the social structure of human existence as nomos, ethos, and kairos, see Nimi Wariboko, Ethics and Time: Ethos of Temporal Orientation in Politics and Religion of the Niger Delta (Lanham, MD: Lexington Books, 2010).

7. Nimi Wariboko, God and Money: A Theology of Money in a Globalizing World (Lanham, MD: Lexington Books, 2008).

8. Walter Benjamin, “Theses on the Philosophy of History,” in Illuminations: Essays and Reflections (New York: Schoken, 1969), pp. 253–54; quoted in Jacques Derrida, Specters of Marx: The State of the Debt, the Work of Mourning, and the New International, trans. Peggy Kamuf (New York: Routledge, 1994), 181n2; Italics in the original.

9. John D. Caputo, The Weakness of God: A Theology of the Event (Indiana: Indiana University Press, 20006), 95.

10. Richard Fenn, Key Thinkers in the Sociology of Religion (London: Continuum Inter. Publishing, 2009), 1–4. This understanding of miracle is an adaptation of Fenn’s concept of the sacred.

11. Fenn, Key Thinkers, 15.12. The Catholic substance in a positive sense is the “the concrete embodiment

of the Spiritual Presence.” In the negative sense in which Tillich uses the syntagma it refers to the pretentious immobility and timelessness of sacra-mentality (the presence of the divine in cultural forms, actions, objects, or finite creation). For the quote, see Paul Tillich, Systematic Theology, Volume 3: Life and the Spirit: History and the Kingdom of God (Chicago, IL: University of Chicago Press, 1963), 245.

13. Cynthia Moe-Lobeda, “Response to paper by Nimi Wariboko,” 1–2. I am grate-ful to Professor Moe-Lobeda of Seattle University for bringing this nuanced meaning of tradition to my attention. She made this remark as the respon-dent to my presentation of an earlier draft of this chapter at Drew Theological School, “Twelfth Transdisciplinary Theological Colloquium: Common Good(s): Economy, Ecology, Political Theology,” February 10, 2013.

14. Tillich, Systematic Theology, 3:245.15. Tillich regards the symbol of the cross as absolute owing to its self-negating

character. This assertion is based on his understanding of the absolute criterion of all symbols of divine presence. “A revelation is final if it has the power of

Notes 199

negating itself without losing itself” (Paul Tillich, Systematic Theology Volume 1: Reason and Revelation, Being and God [Chicago: University of Chicago Press, 1951], 133). Or as he states in Dynamics of Faith (New York: Harper and Row, 1957), “The criterion of truth of faith, therefore, is that it implies an element of self-negation. That symbol is most adequate which expresses not only the ultimate but also its own lack ultimacy” (97).

In Jesus as a person in history we saw two outstanding characteristics that made him the New Being: “uninterrupted unity with the ground of being and the continuous sacrifice of himself as Jesus to himself as the Christ” (Paul Tillich, Systematic Theology, Volume 2: Existence and the Christ [Chicago: University of Chicago Press, 1957], 137). Because of this, according to Tillich, the cross is the only symbol in history to satisfy the criterion. This assertion has led many theologians to criticize him for disregarding his own principle. See, for example, Glenn D. Earley, “Paul Tillich and Judaism: An Analysis of ‘The Jewish Question—A Christian and a German Problem,’” in Theonomy and Autonomy: Studies in Paul Tillich’s Engagement with Modern Culture, ed. John J. Carey (Macon, GA: Mercer University Press, 1984), 237.

16. Hannah Arendt, The Origins of Totalitarianism (New York: Schocken Books, 2004), 616.

17. See Wariboko, Pentecostal Principle, 1–5.18. See Wariboko, Pentecostal Principle.19. Space constraint will not permit a discussion of these concepts. I refer the

reader to Wariboko, Pentecostal Principle.20. Communion is used here in Jean-Luc Nancy’s sense. See his The Inoperative

Community, trans. Peter Connor, Lisa Garbus, Michael Holland, and Simona Sawhney (Minneapolis: University of Minnesota Press, 1991).

21. Please note that desire is used here in the sense of both rational and affective orientations, passions and interests, toward an object. It will take us too far afield to analyze the differences between—or the transition from—passion to interest in the manner of Albert Hirschman.

22. Philip Goodchild, Theology of Money (London: SCM Press, 2007), 66.23. Goodchild, Theology of Money, 64–65.24. Goodchild, Theology of Money, 67.25. Moe-Lobeda, “Response to paper by Nimi Wariboko,” 2.26. For a simple discussion of PPF, see Sean Masaki Flynn, Economics for Dummies

(Hoboken, NJ: Wiley Publishing, 2005), 38–44.27. It is important to add that points on the curve that are considered efficient by

economists may not always be ethical, moral, or good for workers. Managers might have attained positions on the efficiency frontiers by paying very low wages or externalizing the cost of environmental pollution or ecological degradation.

28. Moe-Lobeda, “Response to paper by Nimi Wariboko,” 2.29. Slavoj Žižek, Less than Nothing: Hegel and the Shadow of Dialectical Materialism

(London: Verso, 2012), 473.30. Žižek, Less than Nothing, 473.31. Žižek, Less than Nothing, 474.

Notes200

32. There are “underlying law[s] which regulate what appears [as] a chaotic con-tingent interaction.” Žižek, Less than Nothing, 460.

33. Friedrich A. Hayek, Law, Legislation and Liberty: Volume 1: Rules and Order (Chicago, IL: University of Chicago Press, 1973).

34. Hannah Arendt, The Human Condition, 2d ed. (Chicago, IL: University of Chicago Press, 1958).

35. Žižek, Less than Nothing, 483.36. Žižek, Less than Nothing, 497.37. Bonnie Honig, Emergency Politics: Paradox, Law, Democracy (Princeton, NJ:

Princeton University Press, 2009), 88.38. Carl Schmitt, Political Theology: Four Chapters on the Concept of Sovereignty,

ed. George Schwab and Tracy Strong (Chicago, IL: University of Chicago Press, 2005); The Concept of the Political, trans. George Schwab (Chicago, IL: University of Chicago Press, 1996); Franz Rosenzweig, The Star of Redemption, trans. Barbara Galli (Madison: University of Wisconsin Press, 2005).

39. Jacques Rancière, Hatred of Democracy, trans. Steve Corcoran (London: Verso, 2006).

40. This way of describing the market was inspired by my friend Ruth Marshall and her critique of Pentecostalism. See her “The Sovereign of Miracles: Pentecostal Political Theology in Nigeria,” Constellations 17, no. 2 (2010): 197–223.

41. Schmitt’s theory of the sovereign intrinsically rejects Adam Smith’s theory of the invisible hand of the market. The notion of invisible hand rejects not only the transgression of the law of the market through an exception brought about by the direct intervention, as is found in the idea of miracle, but also sovereign’s direct intervention in a valid market order. Construction of this statement is an adaptation of Schmitt, Political Theology, 36–37.

42. Honig, Emergency Politics, 91–92.43. For Rosenzweig on the idea of prediction as the predicate of miracle, see his

Star of Redemption, 104.44. Eric L. Santner, “Miracles Happen: Benjamin, Rosenzweig, Freud, and the

Matter of the Neighbor,” in The Neighbor: Three Inquiries in Political Theology, in Slavoj Žižek, Eric Santner, and Kenneth Reinhard (Chicago, IL: University of Chicago Press, 2006), 76–133.

45. Honig, Emergency Politics, 97.46. Honig, Emergency Politics, 92.47. The PPF can be explained only as post eventum. But our ability to explain it

after the fact does not mean it is not a miracle. Here Rosenzweig’s point about explanation and miracle is instructive. Post hoc explanation of shifts in PPF is possible “not because miracle is no miracle, but rather because explanation is explanation” (Franz Rosenzweig, “On Miracles,” in Franz Rosenzweig: His Life and Thought, ed. Nahum N. Glatzer [Indianapolis: Hackett, 1998], 290). The point here is that though we can still pass off PPF as a miracle under the Rosenzweig’s and Arendt’s concept of miracle, it is still wrong to say PPF is predictable.

48. Philosopher Walter Benjamin popularized this idea.

Notes 201

49. Rosenzweig, Star of Redemption, 105.50. Tyson Edward Lewis, “The Architecture of Potentiality: Weak Utopianism

and Educational Space in the Work of Giorgio Agamben,” Utopian Studies 23, no. 2 (2012): 357.

51. Santner, “Miracles Happen,” 126.52. For the ideas about variation and “right and left walls,” see Stephen Jay Gould,

Full House: The Spread of Excellence from Plato to Darwin (New York: Three Rivers Press, 1996).

53. Gould treats this, albeit unsatisfactorily, in his Full House, 130, 217–30.54. Gould, Full House, 226.55. Giorgio Agamben, Potentialities: Collected Essays in Philosophy, ed. and trans.

Daniel Heller-Roazen (Stanford, CA: Stanford University Press, 1999).56. Giorgio Agamben, Nudities (Stanford, CA: Stanford University Press, 2010), 44.57. Agamben, Nudities, 43–44; Potentialities, 182.58. Agamben, Potentialities, 182–83; italics in the original.59. Agamben, Nudities, 44–45.60. I consider the common good as the ordered arrangement (oikonomian) of

goods in the house (oikos) of the people. Elsewhere I have provided a rigorous philosophical understanding of this conceptualization. See Nimi Wariboko, Methods of Ethical Analysis: Between Theology, History, and Literature (Eugene, OR: Wipf and Stock, 2013), 143–151.

61. Agamben, Nudities, 45; Lewis, “Architecture of Potentiality,” 358.62. Lewis, “Architecture of Potentiality,” 358.63. Agamben, Coming Community, 104; Potentialities, 253–59.64. Giorgio Agamben, The Time That Remains: A Commentary on the Letter to the

Romans, trans. Patricia Dailey (Stanford, CA: University of Stanford, 2005).65. Jan Patočka, Body, Community, Language, World, trans. Erazim Kohák

(Chicago, IL: Open Court Publishing, 1998); Heretical Essays in the Philosophy of History, trans. Erazim Kohák (Chicago, IL: Open Court Publishing, 1996); Erazim Kohák, Jan Patočka: Philosophy and Selected Writings (Chicago, IL: University of Chicago Press, 1989).

66. I am here playfully alluding to Walter Benjamin’s definition of happiness.67. Walter Benjamin, Illuminations: Essays and Reflections, trans. Harry Zohn

(New York: Schocken Books, 1968), 263.68. See Slavoj Žižek, “Thinking Backward: Predestination and Apocalypse,” in

Paul’s New Moment: Continental Philosophy and the Future of Christian Theology, ed. John Milbank, Slavoj Žižek, and Creston Davies (Grand Rapids, MI: Brazos Press, 2010), 203. See also Slavoj Žižek, The Fragile Absolute: Or Why Is the Christian Legacy Worth Fighting For? (London: Verso, 2008), 80–83.

69. Gilles Deleuze, Cinema 2: The Time Image, trans. Huge Tomlinson and Robert Galeta (Minneapolis: University of Minneapolis Press, 1989).

70. William E. Connolly, A World of Becoming (Durham, NC: Duke University Press, 2011), 116; italics in the original.

71. Cynthia D. Moe-Lobeda, Healing a Broken World: Globalization and God (Minneapolis: Fortress Press, 2002), 54; italics in the original.

72. Moe-Lobeda, Healing a Broken World, 35–38, 46, 53–54, 65–69.

Notes202

73. Globalization-capitalist resonance machine is an adaption of William Connolly’s term “evangelical-capitalist resonance machine.” See William E. Connolly, Capitalism and Christianity, American Style (Durham, NC: Duke University Press, 2008).

74. Moe-Lobeda, Healing a Broken World, 101.75. There is no space to elaborate on this alternate kind of freedom (as fulfillment

and im-potentiality; which accents limitless human power, locates itself in that parallatic space between the power to do and the power to not-do), but suffice it to say that at the minimum it will have five components:1. Present freedom to meet the challenges of today: it involves everyday forms

of resistance and collective actions to counter the negative forces of capital-ism on a day-to-day basis.

2. Past freedom: this is the vigilance of freedom that ensures that past victories or settled practices continue to contribute to human flourishing and they do not turn into new forms of oppression or domination.

3. Retroactive freedom: freedom ignites its potentiality retroactively. There are situations where mere actuality retroactively ignites its hidden potentiality. We must work to ensure that the freedoms and opportunities of the past that we failed to grab are revisited (when necessary or possible) and ignited by our current actions.

4. Future freedom: this demands that there is enough collective organization and mobilization on the ground such that the power of the masses can be projected into the future before even the future arrives. When the rul-ing class thinks about tampering with the well-being of the masses in the months and years to come they are forewarned about or they immediately understand the huge possibility for undoing the system.

The idea of im-potentiality of freedom is about putting persons at spaces where there are opportunities for going forward, potentials for pushing out-wards the limits of life. It is the idea of starting and surpassing a future that is at the same time ending the limiting past in which that future is rooted.

5. All-bodied freedom: this is the notion that all freedoms and unfreedoms are connected. The dense relationality of freedom demands that we work to resist oppression, domination, and discrimination everywhere in the system. It also means that the freedoms we enjoy or fight to enact today are relevant for and protective of future generations, present and future well-being of all human-kind (both in the West and the rest of the world), and for the future of the cosmic or planetary household. Our freedoms must be a blessing to others.

76. See Connolly, Capitalism and Christianity.77. Connolly, World of Becoming.78. Clayton Crockett, Radical Political Theology: Religion and Politics after

Liberalism (New York: Columbia University Press, 2011), 59.79. This paragraph is inspired by James C. Scott, Seeing Like the State: How

Certain Schemes to Improve the Human Condition have Failed (New Haven: Yale University Press, 1998), 6.

80. Scott, Seeing Like the State, 6.

Notes 203

81. In the next few paragraphs I will reconstruct and adapt Paulina Ochoa Espejo’s process theory of popular sovereignty, especially her distinction between procedure and process, for my limited purpose in this chapter. See her, The Time of Popular Sovereignty: Process and the Democratic State (University Park: Pennsylvania State University Press, 2011).

82. Mark C. Taylor, Confidence Games: Money and Markets in a World without Redemption (Chicago, IL: University of Chicago Press, 2004), 330–31.

83. Espejo, Time of Popular Sovereignty, 149–50.84. Connolly, World of Becoming, 119.85. This interpretation of melancholia is indebted to Ranjana Khanna’s book,

Algeria Cuts: Women and Representation, 1830 to the Present (Stanford, CA: Stanford University Press, 2008), 50, 51, 56, 59–61, 147–49, 240.

86. Thanks to Professor Anne Joh of Garret-Evangelical Theological Seminary for introducing Khanna’s work to me.

87. Khanna, Algeria Cuts, 12.88. Jacques Derrida, Given Time: I. Counterfeit Money (Chicago: Chicago

University Press, 1992).89. Khanna, Algeria Cuts, 223.90. Agamben, Potentialities, 181; italics in the original.91. Crockett, Radical Political Theology, 56–57.92. Jason Smith, preface to Franco “Bifo” Beradi, The Soul at Work: From

Alienation to Autonomy, trans. Francesca Cadel and Giuseppina Mecchia (Los Angeles: Semiotext(e), 2007), 16.

93. In crude Deleuzian terms, we may interpret the soul as the depth that is regis-tered on a body from a cut between corporeal and incorporeal being, between material body and nonmaterial sense, and from the interactions of the body with other bodies. By the means of plasticity the body produces the soul. See Clayton Crockett, Deleuze Beyond Badiou: Ontology, Multiplicity, and Event (New York: Columbia University Press, 2013), 58–63, 70–73, 88–95.

We know the soul or its existential conditions only indirectly through what the body does and can do. The soul finds expression in a committed view of the world, desires, resentments, and practices riffing off on disposi-tions, affects, habits, resonances, and energies. These expressions and the soul complement and amplify each other. The soul is also nurtured and shaped by, and prehends, opportunities and roads that came its way but were not taken either because they were considered outside of experience or they were adjudged to deviate from or contradict the truth. These missed chances, fol-lowing Gilles Deleuze, I call the “powers of the false.” As Connolly, an inter-preter of Deleuze puts it, the false is “that which was incipient at an earlier moment, was not enacted when action took a different turn, left a deposit as a gestational force without portfolio, and now jumps from below the threshold of articulation, thought, and consciousness into the adventure of thought, desire, and action.” See Connolly, World of Becoming, 64; also 116–19, 162. In this way, the expressions and the powers of the false widen/deepen or narrow /etiolate the soul, the cut.

Notes204

94. Enrique Dussel, Twenty Theses on Politics (Durham, NC: Duke University Press, 2008), 25.

95. Dussel, Twenty Theses, 98.

7 Care of the Soul: Resistance to Finance Capital as Virtue

1. Nassim Nicholas Taleb, The Black Swan: The Impact of the Highly Improbable (New York: Random House, 2010). See also Nassim Nicholas Taleb, Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets (New York: Random House, 2005).

2. Nassim Nicholas Taleb, Antifragile: Things That Gain from Disorder (New York: Random House, 2012), 63.

3. This sentence is an adaptation of Slavoj Žižek’s words in his “Only a Suffering God Can Save Us,” in God in Pain: Inversions of Apocalypse, ed. Slavoj Žižek and Boris Gunjević (New York: Seven Stories Press, 2012), 158.

4. Some Christians might argue that it is the teleology of modernity with its instrumental and utilitarian rationality that is to be abandoned. But not the teleology of the coming reign of God, with its “weak” kin-dom, which turns the conventions of this world (of late capitalism) upside down.

5. Taleb, Antifragile, 176.6. In a certain sense, we may regard this slight adjustment as “participative

asceticism.” As Boris Gunjević states: “Every revolution is doomed to fail if it lacks virtue, if it has no ad hoc participative asceticism which could assume a transcending dimension, no built-in dimension of spiritual exercise, or what Michel Foucault calls ‘technologies of the self.’ Revolution without virtues is necessarily caught between a violent orgiastic lunacy and a bureaucratized autism” (“The Mystagogy of Revolution,” in God in Pain, ed. Žižek and Gunjević, 13).

7. George Beahm, I, Steve: Steve Jobs in His Own Words (New York: Perseus Book Group, 2011), 43; italics in the original.

8. Giorgio Agamben, Nudities (Stanford, CA: Stanford University Press, 2010), 44–45.

9. Dorothee Sölle, Beyond Mere Obedience. trans. Lawrence W. Denef (New York: Pilgrim Press, 1982).

10. Sölle, Beyond Mere Obedience, 51.11. Nimi Wariboko, The Principle of Excellence: A Framework for Social Ethics

(Lanham, MD: Lexington Books, 2009).12. Jean-Luc Nancy, Adoration: The Deconstruction of Christianity II, trans.

John McKeane (New York: Fordham University Press, 2013), 47–49, 59, 65, 102–104.

13. Nancy, Adoration, 60.14. Dieter Henrich, Between Kant and Hegel: Lectures in German Idealism, ed.

David S. Pacini (Cambridge: Harvard University Press, 2003), 56–58. Being

Notes 205

automatic means freedom is both the principle of human actions and also the origin of laws human beings impose upon themselves. Automatic freedom, which is proposed as the abiding character of the care of the soul, means our behavior, attitude, or habit toward finance capital originates completely from our freedom (the potentiality to do and the potentiality to not-do). This means we do not need any conditions other than human freedom to craft the practices and techniques of soul care. Freedom not only generates the prin-ciples and laws of transformative praxis, but also provides the motivation to act, to initiate something new for the sake of this freedom.

15. Marc Crépon, “Fear, Courage, Anger: The Socratic Lesson,” in Jan Patočka and the Heritage of Phenomenology: Centenary Papers, ed. Ivan Chvatik and Erika Abrams (Dordrecht: Springer 2010), 181.

16. Crépon, “Fear, Courage, Anger,” 180; italics in the original.17. Crépon, “Fear, Courage, Anger,” 181; italics in the original.18. Peter Rollins, Insurrection: To Believe Is Human, To Doubt Is Human (New

York: Howard Books, 2011).

Conclusion: Rethinking Economic Ethics

1. Robert Cummings Neville, Eternity and Time’s Flow (Albany: State University of New York Press, 1993), xv.

2. I have paraphrased Miroslav Volf ’s description of the spirit for my purpose here. Miroslav Volf, Exclusion and Embrace: A Theological Exploration of Identity, Otherness, and Reconciliation (Nashville, TN: Abingdon Press, 1996), 48–49.

3. Giorgio Agamben, Potentialities: Collected Essays in Philosophy, ed. and trans. Daniel Heller-Roazen (Stanford, CA: Stanford University Press, 1999), 182–83; italics in the original.

4. See Samuel Wells, Improvisation: The Drama of Christian Ethics (Grand Rapids, MI: Baker Publishing, 2004).

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abnormal profits, 77Abraham, 45absolutization, 128abyss, 74, 75, 129, 151

of freedom, 74, 129, 154of human impotentiality, 151of potentiality, xiv, 146, 161, 179

accept, 181acceptance, 34–5. See overacceptaccounting language, 10, 38, 41accounting:

equality (arithmetic foundation), 3, 5, 11, 28–9. See also chapter 2

philosophy of, 41, 47, 49, 53action, xii, 34, 89, 102, 129, 141address, 31adequation, 28affectivity, 6, 7Agamben, Giorgio, 12, 126, 139,

145–8, 156, 162, 165, 179agape, 118–19agricultural mindset, 90anatomy, 75, 76Anaximander, 48Angola, 107animal spirits, 2, 3, 5, 69, 161, 182anti-economy, 3anti-ethics, 18, 161anti-evolutionist, 75antifragility, ix, xiv–xvii, 10, 13, 15,

18, 76, 105–6, 158–61, 173, 178defined, xiv–xvethos of, 177

and impotentiality, 168–9and knot of finance, 107–11, 120–1relevance of ethics of, 161–4

antinomic, 20, 21antinomies, 21Antonio, 73arche, 40Arendt, Hannah, xi–xii, 10, 34, 102,

123, 126, 129, 134on miracles, 137, 200n47on sovereignty, 141

aretē, xvi, 166Aristophanes, 117Aristotle, xi, xii, xiii, 22, 34, 145, 177arithmetic equality, 45Asia, 118assemblage, 149assets, 39, 40, 49, 50–1

valuation, 65, 68, 132–3, 191n15attestation, 36, 43Augustine, 83, 129Augustine, Daniela C., 91autonomous, 8, 33, 61

Badiou, Alain, 34–7, 62–3, 136, 179Bassanio, 73–4Becker, Gary, 20Being, 36, 37, 50, 58, 62, 65–6, 118,

119, 130, 168, 170, 182being-rather, 147belief, 10, 12, 17, 29–30, 43, 86, 88,

99, 170Benjamin, Walter, 12, 125–6, 143

Index

Index216

Beradi, Franco “Bifo,” xiibeta, 96, 194n7Bible, 162

1 Corinthians, 126, 1432 Corinthians, 86, 143Ephesians, 44Luke, 86, 128

binary opposition, 51, 62, 64, 136black swans, 10, 108, 159Black-Scholes option pricing model,

92blessings, 30, 91, 92–3Bloch, Ernst, 66block (an offer), 181Born, Daniel, 42Boyce, James, 107Britain, 42business cycles, 109

calculability, 47call option, 11, 100call price, 100Calvinism, 91Campbell, Collin, 100capillary powers, 163capital asset pricing model (CAPM),

92, 99, 103, 193–4n7capitalism, xv–xvi, ix, x, xii, 7, 16, 17,

19, 91, 99–102, 139, 146, 160, 167, 181

and antifragility, 18, 158, 161–2, 164, 168

and care of the soul, 13–14, 122, 169

casino-style, 19, 25and freedom, 10, 13, 18, 122, 150,

155–6impact on the soul, 7, 14–15and Pentecostalism, 99

capitalization of mana, 99capitalo-parliamentary market system

(-democracy, - institutions), 152, 155, 166

Caputo, John D., 45, 126care of the soul, ix–xiv, xvi–xvii,

6–11, 13–15, 32–7, 121. See also chapters 6 and 7

market and, 17–18Cartesian, 7, 114Catholic substance, 123–4, 128–32,

198n12Cavanaugh, William T., 83central banking, 77, 119characterizations, 59Christianity, 12, 15, 20, 89, 94–6,

101, 103, 165Christo-marketistic religion, 165Christo-nationalistic religion, 165circumcised financial economies, 75Clennam, Arthur, 42coercive mode, 44cognitive capitalism, xiicollaterals, 76communion, 6, 8, 120, 130, 131, 174communomous, 8complex adaptive system, 92, 112, 114complexity theory, 112condition of indifference, 63conditional probability, 93Connolly, William E., ix, 149, 151,

155consensus, 159constituted experience, 155constitutive experience, 155contingency of necessity, 137, 141, 148contingency, 27, 35, 40, 85, 86, 92,

112, 137, 148convention, 23, 68–9, 112, 113, 178,

196n17converging causal sequence, 98coroner, 51corporeal self, 7correlation, 21, 50, 92, 93cost of capital, 78Cote d’Ivoire, 107counted-as-one, 36

Index 217

country-by-country reporting, 108, 110–11, 121

crack, xi, 16, 19, 21, 25, 29, 38, 76, 175

creative destruction, xv, 159, 176creative disobedience, 15, 52, 170, 173creative eros, 118, 119–20creativity, xii, xvi, 14, 16, 28–9, 36,

60, 63, 85, 86, 111–12, 113care of the soul, 176eros and, 117Pentecostal Principle, 131

credit, 16, 28, 50, 51, 59, 73, 77, 77–8overextension, 77

Crépon, Marc, 170crisis, 5, 22, 27, 58, 59, 61, 68, 72–3,

75, 86, 106, 110Crockett, Clayton, 151, 156currencies, 72–3, 86

Davies, Natalie, 44DCF, 63, 67, 133deactivation of law, 130, 177debit, 16, 28, 62, 136. See also

Chapter 2debtors’ prison, 42deconstruction, 124defense, 34, 171deities, 179Deleuze, Giles, 149, 155, 203n93Derrida, Jacques, 41, 45, 47–8, 156desire, xiv, xv, 21, 22, 25, 30, 35, 36,

63, 73–4, 83, 863and financial products, 136as forms of love, 118–19and freedom, 149, 152, 168and Pentecostalism, 100and value of assets, 132–3

deus ex machina, 151Dickens, Charles, 42dikê, 48dike, 84discount factor, 66

discount rate, 133discounted cash flow method. See

DCFdisorder, 10, 13, 15, 105, 108, 109, 161disordering order, 159dissensus, 159distribution ethic, 100–1diversification, 96, 106divine investments, 95, 99, 100, 101divine presence, 128, 129divine stocks, 96, 97divine, 54, 74, 76, 84, 99, 140, 144DNA, 59doctrine of freedom, 13, 157dogmatics, 6dollar, 72, 77, 97Dostoevskian question, 64Dussel, Enrique, 157

Eagleton, Terry, 64Ecology, 34, 78economic development, 2, 101, 103,

105, 107, 115–16, 118, 121economic ethicists, 13, 174economic life, 2–4, 6, 68, 96, 119, 157,

158, 161, 164registers of, 9–10

Eden, 69efficient market hypothesis, 4, 92,

140, 142efficient market theory, 92egalitarianism, 93Egom, Peter Alexander, 23–5, 83,

193n49elements of monetary system,

132–5elements of religion, 123–5, 128–31,

135else-when, 101, 115emancipatory spirituality, 18, 166Emenike, Ikechi, 164–5emotion, 2–3, 6–7, 55, 58–60, 65,

68–9, 82–3, 84, 86

Index218

engaging economics (ideas), 1–3, 9, 10, 174

engaging economics, mechanism, 1–3, 9, 10

engaging economics, stewardship, 1–3, 9, 10

environment, 7, 13, 34, 65, 77–8, 80epi-reading, 41epistemological indeterminacy, 50epithymia, 118–19, 120eros of money, 116, 117, 119–20eschatological structuring, 65eschatology, 4–5, 170eschaton, 67, 133Espejo, Paulina Ochoa, 155ethical analysis, 14, 122, 174, 176ethics, 10, 11, 13, 18, 29, 30, 35, 47–8,

159contrasted with morality, 187n23of hope, 9

ethos, 13, 53, 79, 80, 84, 99, 124, 128, 151, 155

of antifragility, 173–5, 177euro, 72Europe, xi, 78evangelical-capitalist resonance

machine, 150event, 17, 24, 28, 33–5, 36–8, 136–7evental site, 37excess, 3, 16, 22–3, 29, 35, 43, 50, 55,

58–60, 62, 69–72, 85in financial products, 63–4, 67and reason, 3in situation, 62

excess of parts, 62. See also excessexcluded possibilities, 59existential risk, 96existing potentiality, 145external debt, 107

faith, 10, 12, 14, 17, 29–30, 36, 43, 86. See also chapter 4

faith equation, 89, 95–101

falsifiability, 165fantasy, 2, 174fat tails, 92, 163fear, 3–5, 66, 68, 85, 86, 130, 161festishization, 157fiat money, 77fidelity, 29, 30, 35, 36–7, 38, 155, 179finance capital, ix, x–xv, xvii, 10–11

key constituencies, 12, 14magic of, 12

financial analyst, 41financial circulation of money, 16, 21,

61, 70financial economists, 88financial imagination, 57, 61financial innovation, 36–7, 63financial innovators, 36, 63financialized citizenship, xiii, 185n7financial products, 36, 51, 60, 62, 63,

68–9, 136and irrationality, 83valuation of, 79

financial unconscious, 89flood, 94–5flows, 5, 7, 83Fortuna, 61Foucault, Michel, 81, 82, 163fractal geometry, 94fragility, 10, 11, 18, 40, 109, 160

of the financial system, 81, 82imposed on society by the financial

system, 18, 105, 110, 153, 161overthrowing a system, 163–4of the soul, 10, 159

freedom, ix, xi, xiii, 13, 26–7. See chapters 6 and 7

and care of the soul, x, xii, xvi. See chapters 6 and 7

frequency, 94Friedman, Milton, 117functions of the soul, xii, 34fundamental accounting equation, 3,

5, 28, 39–41, 48–9

Index 219

gap, xiii–xiv, xvii, 19between actual and virtual, 138between economy and finance, 21,

24–5, 75between potentiality and

actualization, 52between real and virtual, 67Pentecostal principle as gap, 137soul as gap, 175within assets, liability, 49within eros, 117–18within (praxis of) freedom, 167within human body, 182within money, 136within the economy, 19, 76

Gaussian distribution, 92Genealogy of Morals, 46general equivalent of value, 51generic potentiality, 145generosity, 45, 46genetic copying, 160geometric equality, 25, 27gift, 41, 44, 45–6, 48, 54, 147,

156–7gift mode, 44–5Gift of Death, 48givenness, 66, 149, 170Global Financial Integrity (GFI), 107global financial system, 72, 107, 111God and Preacher (G&P) Index, 96Goede, Marieke de, 85Goodchild, Philip, 65, 70, 71, 78,

81–3, 132Gospels, 128Gould, Stephen, 144grace, 41, 44, 46–7, 48, 129, 130,

177Granovetter, Mark, 20gravity, 130, 176, 182Greece, 162Greenspan, Alan, 4, 109ground norm, 42, 53guilt, 42, 46–7

hard-model of economic behavior, 20harvest, 90, 97Hasard, 61Hayek, Friedrich, 111–15, 137hazardity, 80heart attack, 46, 61Hegel, 6, 31–2, 49, 64, 75, 175,

194n15Heidegger, Martin, xi, 151Heisenberg uncertainty principle, 94hermeneutical decoding, 41heteronomous, 8, 150High Net Worth Individuals, 107historicality, 7Holy Spirit, 90, 95–7, 130, 194n15homo economicus, 2, 3, 6, 20homo-economicus real, 20Honig, Bonnie, 141hope, 3–5, 9–10, 33, 66–9, 84, 114,

156, 161Horton, Robin, 98Husserl, xihydra-heads, 163

I-can-do-it, 165–6idea of finance, xvii, 11–12, 14, 16–17.

See also chapter 1idea of the financial, 59, 64, 80, 86.

See also chapter 3illicit financial flows, 107illicit transfers, 111imaginative hedonism, 100–1imagined futures, 65impotentiality, xiii, xvi, 14, 15,

145–56, 160–2, 165, 167and antifragility, 168–9and freedom, 179–80

incarnation, 129income curve, 93income distribution, 93incompleteness, 10, 16, 17, 36, 60, 63,

117–18, 148, 159inconsistent multiple, 35, 37

Index220

index number, 24indexical, 98industrial circulation of money, 16, 70infinite longing, 144infinity, 28–30, 38, 63, 131, 133,

187n23innovation, 3, 35, 37–8, 101, 113, 164,

179. See also financial innovationinscription, 34insider information, 44insurance praxis, 10, 38, 57insurance, 5, 12, 29, 46, 57–8, 60, 74,

94, 100interdisciplinarity, 88, 121, 180interesse, 61interest phenomenon, 83internal split, 19, 26. See also gap,

crack, and lackinvestment return, 12, 30, 88, 103. See

also return on investmentinvisible hand, 1, 132, 140, 163, 169irrationality, 3, 55, 83Isaac, 45

jazz, 91Jesus, 90, 128, 129. See also Christ and

New BeingJevons, William Stanley, 142Jobs, Steve, 164–5jouissance, 25Judas, 128

kairos, 115, 124, 126, 128, 155Kalabari, 98Kangas, David, 61Kant, 14, 167Kantianism, 102Kaufmann, Stuart, 112Keynes, John Maynard, 2, 21, 61Khanna, Ranjana, 155Kierkegaard, Søren, 45, 61, 169Kim, Jim Yong, 106kinship, 22

Knight, Frank, 98, 99Knights, D. 99knot, 12, 17, 30–1, 104, 105–21

labor power, 150, 152labor, xii, 34, 102, 134Lacan, 73–4Latin America, 118law of count-as-one, 35law of freedom, 14, 167left wall, 144Levinas, Emmanuel, 47, 187n23Lewis, Tyson Edward, 147liabilities, 5, 26, 39–55, 65, 110libido operandi, 28libido, 28, 119life, 2, 8, 32–5, 43, 44–5, 64life of the Spirit, 2, 40limitlessness, 22–3linearity, 92, 95, 103Little Dorrit, 42London, 42, 107long run, 65, 66, 115, 169

magic, 12, 43, 67, 86, 90, 99, 103, 140, 144

mana, 99Mandelbrot, Benoit, 94–5, 103marginal rate of return, 143marginalist revolution, 142market miracles, 10, 123–58marketized citizen, xiii, 185n7Martin, David, 100Marx, Karl, 75, 124, 133, 195n28Maurer, Bill, 89medium of exchange, 51, 85, 124melancholia, 155Menger, Carl, 142Messiah, 125, 126, 142messianicity, 151metal (money), 23methodology, 1, 37, 38, 65, 173–8micropolitics, xi, 174

Index 221

Miller, Donald, 101Minerva owl, 51miracle (defined), 126–8mode of life, 34–5, 170

coercive, 44gift, 44, 45. See also giftmarket, 44sales, 44

Moe-Lobeda, Cynthia, 133, 150Molecules, 90, 94Moltmann, Jürgen, 9, 66monetary policy, 52, 71, 108, 116–21money creation, 77money supply, 70, 73, 77, 116monkey, 75monster, 1–2, 178moral agency, 150moral bookkeeping, 53. See also

scorekeepingmoral hazard, 3, 5, 12, 28–9, 36, 55,

57–86moral technology, 98, 99morality (defined), 30, 48, 187n23mortificatio, 3mortification, 3multinational corporation (MNC),

110multiple, 36, 37, 62, 188n47multiplicity, 35, 36, 62, 126Murphy, Richard, 110Mutation, 160

Nader, Ralph, 109name-it-and-claim it, 96, 194n14Nancy, Jean Luc, xiv, xvi, 36, 43, 102,

166natality, 52, 123, 126, 127, 175natural process, 89, 102natural rate of prosperity, 95Ndikumana, Léonce, 107necessity of contingency, 137, 141,

148negativity, 2, 32, 74, 75

neoclassical economics, 2, 87, 89, 101net present value, 65, 66net value, 67Neville, Robert, 177New Being, 129, 198–9n15new thinking, xi, 15New York, 107Niebuhr, Reinhold, 168, 169Niebuhr, Richard, xivNietzsche, Friedrich, 42, 46, 47, 171Nigeria, 23, 83, 107, 164nomos, 2, 113, 124, 155, 166nonadequation, 28non-asset, 49non-being, 36, 62, 156, 118,

188n48nonconformity, 159nonvision vision, xvnon-zerosumness, 43norms of monetary policy:

integration, sociality, stimulation, and transformative, 118–21

normal distribution, 92, 103not-asset, 49novum, 124null set, 25, 35, 36, 62, 136, 187n23Nussbaum, Martha, 48–9

obedience, 12, 30, 31, 45, 139, 165–6, 170

Objectively Possible, 66obligation, 11, 45, 46, 47, 48, 49offerings, 90, 91–3, 95oikos, 102okonomia, 133ontology

of finance, 59, 64, 80, 81, 83–4of moral hazard. See chapter 3

optionality, 11, 162order, 18, 24, 25, 27, 35, 36, 37, 59,

61, 63, 85spontaneous, 111–15

overaccept, 181

Index222

parallactic gap, 136Pareto, Vilfredo, 93parousia, 43particle physics, 67passive reading, 41pathos, 118Patočka, Jan, xi–xiii, 33–5, 37, 148,

169, 179Paul, 86, 125, 126, 143payoff, 57Pentecostal index, 96Pentecostal Principle, 100, 101, 124–5,

129, 130–1, 133–7, 140–1Pentecostalism, 3, 88, 91, 99–100,

103, 130–1, 180personhood, 7, 43Pfeffer, Irving, 99phantasy, 166Pharisees, 128philia, 118–20philostochastic, 105phloem, 59Pixley, Jocelyn, 68planetary household, 133, 147, 147,

202n75Plato, xi, 24, 117, 119, 177play, 3, 27, 28, 73, 75, 101, 106

theology as, 177pneuma, 95, 97pneumatological imagination, 101polemos, 183political theology, 123, 125–6, 131,

137–8, 157–8, 174politics, 17, 20, 29, 35–8, 89, 102,

146, 157Popper, Karl, 165portals, 179portfolio, 95–7, 105–6, 177Portia, 73–4potentiality, xi, xvi–xvii

abyss of potentiality, xiv, 146, 161, 179

existence as potentiality, xi, xiii

power of freedom, xiii, xvii, 148, 167, 169, 182

power of the false, 149powerlessness, 126practical theology, 37, 38praxis, 8, 10, 11, 14, 15, 28, 29, 40,

54, 55of freedom, 144–8, 151, 153, 156–7,

167–8, 177premium, 12, 29, 58, 96, 100present value, 66, 133. See also net

present valuepresentized future, 66presentness, 60primordial soup, 64private banks, 77private realm, 102privation, 146, 156, 180privatus, 61probabilistic explanations, 92proboscises, 58processive openness, 66production possibilities frontier, 13,

123, 125, 133–7, 143profession, 39, 53, 61, 157prophetic spirit, 84, 192n53prophets, 52prosperity gospel (message), 3, 30, 43,

86, 87–103Protestant ethic, 100–1, 181Protestant Principle, 124, 128–34public debt, 108public realm, 102pure appearing, 24pure means, 33, 145, 147, 188n35pure mediality, 33pure multiplicity, 35put option, 100

Quants, 63quantum physics, 94

Radical Orthodoxy, xiv

Index 223

radicalization of grace, 130randomness, x, xv, xvi, 11, 13, 92–3,

111, 160, 162and management of society, 162in the soul, 161types of randomness (evolution),

160rate of time preference, 79ratio seminalis, 61rationalism, 113, 114rationality, 2, 3, 6, 9, 29, 55, 57, 69,

74, 86, 102, 114, 161, 174, 181Real Possible, 66, 67real presence, 41Real, 25, 28, 75reality itself, 16, 21, 50reason, 2–4, 6, 9, 20, 55, 86, 113–14,

169reciprocity, 43–4, 47, 120referential, 98remainder-freedom, 152–3renminbi, 72repetition, 137–8, 139reproduction, 22, 116, 124, 155, 160Republic of Congo, 107resistance, xvii, 5, 15, 81, 82, 133–4,

152. See also Chapter 7return on investment, 17, 30, 87, 88Rice, Michael, 46right wall, 144risk, 5, 23, 57–8, 60, 66–7, 71

antifragility, 109–10, 160, 162insurance, 85, 88, 92, 95–100, 103

Roentgen apparatus, 21Rollins, Peter, 170Romantic ethic, 100–1Rosenzweig, Franz, 12, 125, 139–44Rousseau, 14, 167rules of behavior, 112, 124

sacred, 127, 128, 139sales mode, 44. See also mode of lifesalvation, 44, 85

Sanneh, Lamin, 54Santa Fe Institute, 112Santner, Eric, 140savings, 71, 79, 86, 103, 106Schmitt, Carl, 12, 125, 137–42,

144Schulde, 46scorekeeping, 46. See also moral

bookkeepingsecurities trading, 5securitization, 83see-judge-act, 14, 15, 38, 122seigniorage, 72self-generation, 22self-grounded identity, 8semantic reading, 51semiotic structure, 140, 141, 143Sen, Amartya, 20senses, 7, 9, 24

finance as senses of the economy, 24sensitivity, 13, 95, 97, 115serpent, 69Shakespeare, 73signs, 76, 141sites of finance capital, 12, 38. See also

Chapter 1situation, 29, 30, 35–7, 62, 188n47social practice, 1, 15, 39, 47, 51, 120,

146social realm, 102soft-model, 20soil, 23, 59, 69, 71, 90, 99Sölle, Dorothee, 165, 166, 170soul, xii–xiii, xvi, 6–8, 10–11, 161,

178defined, xii, 6–8, 157, 168, 170,

174–5soulcraft, xii, 168, 169, 189n52space, 7, 16, 27, 36, 62–3, 70, 96, 134,

135, 137–8contents of money, 70–2, 86

spatiality, 7spectral appearance, 25

Index224

Spirit, ix, xii, xiv, 2, 32–3, 40, 117, 131, 170, 182. See also animal spirits

finance as, 179Holy Spirit and investment, 90, 92,

95–7prophetic spirit, 89spirit and truth, x, 20, 38, 76, 179spirit of capitalism, 18, 101, 167,

181symbol of love and bond of

community, 130, 194n15spiritual gifts, 91spiritual power, 82spontaneity, 2, 15, 112–13, 115, 161,

165, 166spontaneous order, 111–15state policy, 10, 31, 38statecraft, xi–xii, 38, 168–9, 189n52steady state, 133stochastic process, 88, 92stock brokers (operators), 16, 96, 97stocks, 11, 44, 92, 96, 97, 100subjective genitive, 59subjects of finance, 12, 86, 103Sub-Saharan Africa, 107Sudan, 107Sun King, 156surplus possibilities, 127switching codes, 124symbol, 2, 7, 21, 36, 63, 71, 120, 129,

130, 198n15synergies, 43

Taleb, Nassim Nicholas, xv, 108, 110, 161

Taylor, Charles, 102Taylor, Mark C., 64, 76, 81, 113,

154Taylor, Mark L. 193n52techne, 40technology of the self, 8terror, 64, 85, 86

testimonies, 94the financial, 59, 60the said, 41Third Article, 129–30time, 6–7, 36, 63, 64, 66, 70–2, 85–6,

94, 179time preference, 79–80tithes, 90too-big-to-fail, 108totality, 28, 29, 30, 38, 65, 187n23trading with God, 96traditio, 128transcendental genesis, 20transformative leadership, 40, 53, 54translation, 55, 99transmission, 31transparency, 50, 111treasury bond, 95, 194tree, 59, 73trend-mentality, 67trust, 59, 68–9, 73, 86, 87, 96, 90truth, xi, xii, 9, 12, 20, 21, 24, 28,

29–30, 35, 37, 54, 179dimension of life, 34, 37truth of modern economy, 21, 23,

25, 32, 179truth procedure, 16, 17, 30tsimtsum, 96twoness, 136Tyche, 61

ultimate concern, 47, 51uncalculatability, ix, xv, 13, 18,

161uncertainty, 10, 11, 13, 15, 29, 57–8,

68–9, 83–5, 88and antifragility, 111and Heisenberg uncertainty

principle, 94and risk, 98–100and soul care, 111, 159, 162, 175

unfreedoms, 117, 202n75universal code, 15, 40

Index 225

universal commodity, 124unknowability, 68, 85unknowable, 36, 63, 68, 69unreason, 2–3, 4, 5utilitarianism, 102utopological, 115

valuation, 63–8, 79, 132–3, 191n15variance, 92Vernant, Jean-Pierre, 76Vicki, Rice, 46virility, 166virtual, 24, 31, 67, 125, 134, 137–8,

182virtual capitalism, xiii, xvii, 182virtus, xvi, 166vocation, 145, 157void, 25, 35–7, 62–4, 135, 136volatility, ix, x, xiv, xv, 10–11, 15, 97,

105, 109, 121, 153, 159–60, 162, 164

Volf, Miroslav, 44–5, 54Vurdubakis, T., 99

Wall Street, 12, 19, 25, 27, 37, 55, 174, 75, 87, 110

Walmart, 46Walras, Leon, 142Washington, 75, 109way of being, doing, and speaking, 18weak messianic force, 12, 125, 143, 157Weber, Max, 100, 101, 157, 181wind, 94–5, 97work, xii, 34, 52, 83, 102, 120World Bank, 106

xylem, 59

Yamamori, Tetsunao, 101yen, 72Yong, Amos, 89, 101

zero, 28, 36, 43, 49, 51, 67, 95, 134, 136, 144, 187n23

zero and one, 28, 36zeroes and ones, 51, 62, 136Žižek, Slavoj, 49, 67, 74