The Destructive Marriage of Two Fundamentalisms
Some Thoughts for Discussion

Russell Pregeant

[I wanted to start the 2025 series of Essays with this contemplative essay from Rev. Dr. Russell Pregeant. It is definitely worth reading and thinking about.]

The Destructive Marriage of Two Fundamentalisms

The term “fundamentalism” originated as the self-designation of a conservative brand of Protestantism. Its usage, however, has expanded to include forms of other faith communities, often with derogatory implications. More broadly, it has also been applied to fields outside religion. One characteristic of fundamentalism is its totalizing effect—-that is, it’s tendency to claim that it has all the truth. Christian fundamentalism thus insists that the creation stories in Genesis are literal descriptions of the actual mechanics of the origin of the universe. And the results of this insistence are disastrous, obligating believers to reject the findings of scientific inquiry, such as the overwhelming evidence for evolution. On the other hand, there is a scientific fundamentalism that insists that science is the only avenue to truth. This too has disastrous results, since it reduces religious and moral intuitions to the results of sociological, psychological, or chemical processes and dismisses the question of their possible truth. It is not scientific fundamentalism that has United with Christian fundamentalism, however, but another type that is far more prevalent, particularly in the United States—market fundamentaalism, the belief that a completely free financial market is the only way to prosperity. For a long time, I believed that fundamentalism was the original form of Christianity.. I eventually learned, however, that Christian fundamentalism is actually a modern phenomenon that itself has been shaped by a central aspect of the same Enlightenment period that gave rise to modern science—rationalism. We see this most clearly In its insistence on hard and fast definitions of doctrinal beliefs based upon a literal reading of all biblical texts and its contention that all events related in the Bible are historically true and accurately related. Quite interestingly, then, Christian fundamentalism and scientific fundamentalism, although in one sense bitter opponents, are in another sense, quite similar in their tendency to simplistic totalizing. But, again, this comparison is not my main point. My initial point is that market fundamentalism, like both scientific and religious fundamentalism, is also a product of Enlightenment rationalism and that it too pushes this rationalism so far that it crowds out all truth that might be garnered from other sources. But my main point is that its union with Christian fundamentalism is wreaking havoc on our economy and undermining fundamental biblical values.

The Enlightenment was in many ways a positive turn in human history; it helped free us from authoritarianism and superstition. But it fostered a mechanistic view of the universe—the belief that everything happens is the result of machine-like causation—which in many quarters gave rise to the notion that whatever happens is completely determined by prior causes. In its extreme form, this view rules out free will altogether, which by my sights makes life utterly meaningless. Nevertheless, some forms of Calvinism embrace this view in a theistic form, arguing that God determines everything everything— even who is saved and who is damned. Market fundamentalism as such, of course, has no interest in God or salvation, but it too is based upon a mechanistic view of the universe. From this perspective, the economy is a totally self-regulating phenomenon that operates within a closed system of cause and effect. Thus to “interfere” with this cause-and-effect pattern with regulations or attempts to modify the way it distributes wealth and income is tantamount to disrupting nature itself. That is because the totally free market is understood to be the natural way for the economy to operate. And those who buy into this view hold to these beliefs just as rigidly and fanatically as religious fundamentalists cling to their dogmatic beliefs.

I do not deny that there is a naïve and relatively harmless Christian fundamentalism that has helped many people through difficult times and given them a sense of meaning and a ground of hope. When religious fundamentalism becomes institutionalized to the extent of demanding assent to specific doctrines as requisite for salvation and condemning all who do not share these beliefs, however, the Christian faith is distorted beyond recognition. The over-emphasis on the intellectual assent to rational propositions crowds out the authentically biblical understanding of faith as a total, life-encompassing way of being in the world, a way of life defined by love of God and neighbor and trust in the goodness of all creation. In a similar way, market fundamentalism, by removing the market from the totality of human existence and viewing it as a self-sufficient process, crowds out all considerations other than the market’s own workings. Above all it leaves no room for moral consideration. Quite clearly, a totally unregulated market appears successful in one respect—it generates great wealth. It is equally clear, however, that it distributes wealth in a wretchedly unjust pattern, driving many people into desperate poverty while allowing a tiny minority to bask in luxury. One needs only to think of how things were during the Gilded Age to see that this is true. Nor does market fundamentalism leave room for ecological considerations. From its perspective, whatever produces profit is by definition good, no matter the cost to planetary health.

For a long time, Christian fundamentalism existed in a kind of bubble, largely removed from the broader political realm. Its preoccupation with other-worldly salvation discouraged activism on behalf of economic justice, for example. In our time, however, this bubble has burst, and the result is a fateful union with market fundamentalism. One might have thought that a different alliance would have been more appropriate. Even a cursory reading of the biblical books of Amos, Micah, and James, along with the teachings of Jesus and the Torah and some powerful passages in Isaiah and Jeremiah, would suggest that economic justice should be a central concern of Christians. It is by far the most frequently mentioned moral concern in the Bible. So, why, then, the union with market fundamentalism rather than with a progressive activism that seeks to modify the injustice? I must admit that I have found no fully satisfying answer—and I invite others to help me out—but here are some tentative thoughts.

When the Roman Empire ceased its persecution of Christians and eventually made Christianity its official religion, Christians began to accommodate to the culture in which they lived. They began to lose the counter-cultural aspect that was so central to Jesus himself and his earliest followers. And as we look through Western history, we can see how, far too often, the church has allowed loyalty to country or ethnic identity to override loyalty to Christ. It is thus perhaps not so surprising that a large number of American Christians would accommodate themselves to the market fundamentalism that has played such a large role in our society. There is, moreover, a certain kinship between market fundamentalism and Christian fundamentalism. With its roots in Calvinism, Christian fundamentalism inherited the Protestant work ethic. Apparently adopting the strain of thought in ancient Judaism that saw wealth as a sign of God’s favor (a strain contradicted by Jesus, the prophets, and the Torah), Calvinists in early America believed it important to demonstrate one’s salvation by hard work that leads to affluence. And this, I suspect, led to the exaltation of profit-making in and of itself as religiously sanctioned.

Alongside this religious sanction, Christian proponents of the Protestant work ethic drew upon the writings of Adam Smith, the “father of capitalism.” They focused almost entirely on one aspect of Smith’s thought, however. It is true that he argued that as each person pursues self-interest, the market works in such a way as to promote the common good, What John E, Hill has shown, however, is that Smith also argued that self-interest must be balanced by moral considerations. (Adam Smith’s Sociability and the American Dream, Lexington Books; Adam Smith’s Equality and the Pursuit of Happiness, Palgrave Macmillan) In particular, he believed that all people should prosper and that the working class should receive good wages. Nor did Smith’s interpreters rightly understand his view regarding government regulations, His concern was that government should not intervene to favor one business over another! But generations of his followers have used this to oppose regulations designed to ensure fair treatment of employee, curtail monopolies, and protect the environment.

We can thus detect a fundamental dishonesty in market fundamentalism, as it misuses its own “sacred text” just as Christian fundamentalism is dishonest in its reading of the Bible. It is central to Christian fundamentalism to claim that the Bible is not only true in all respects but is perfectly self-consistent. But this is manifestly not the case, since it is filled with theological differences and historical discrepancies. One must thus distort numerous texts in order to create the illusion of consistency. Just so, one must ignore Smith’s moral concerns or falsely claim that they belong only to an early stage of his thought in order to make him into market fundamentalist.

However we explain the marriage of these two fundamentalisms, the union has been disastrous. Each is destructive in is own way. Christian fundamentalism fosters an ant-intellectualism that stifles human development, and market fundamentalism breeds poverty alongside great wealth, gross inequality, and environmental destruction. Things were bad enough when the two operated independently, but now that they have joined in an unholy union, the result is truly ominous. The mongers of greed now have a natural ally to keep them in power. Together, these two fundamentalisms are a threat to every element in our economic system that is designed to create a measure of economic justice or preserve the environment—Social Security, Medicare and Medicaid, the minimum wage, environmental protections, efforts to make health insurance available to all, etc. Of course, the attempts to dismantle such programs will be justified by claims that the alternatives will work more efficiently for the common good. It has been argued, for example, that a privatized Social Security would be better than what we have, But any such system would be vulnerable to the fluctuations of the market. And as for efficiency, the budget hawks always put first on the chopping block precisely those programs designed for social Justice.

So what must we do—those who care about justice, whether from religious or a secular perspective? We must resist with our votes, our voices, and whatever resources we ca muster. For all of us this means doing what we can to challenge the false economic theory that supports market fundamentalism. And for those of us in the Church, this means promoting a more authentic reading of the Bible and understanding of Christian doctrine—which will show that market fundamentalism is not the ally of biblical faith but its mortal enemy. Vive la resistance!

Russell Pregeant
Wells, Maine
January 8, 2025

Russell is a retired Methodist Minister, College Chaplain and Divinity School Professor. He and his wife live in Wells, Maine. He writes that he seeks to promote sound Biblical interpretation, social justice & process theology. He is fond of Cajun cooking and listening to jazz. He is the author of, Converting Christians to the Jesus Ethic, Mystery Without Magic, and For the Healing of the Nation.

This piece first appeared on Russell's Facebook profile page. He graciously allowed me to share in "Reimagining Christianity" website. You can read my reviews of his three books by clicking on the title. Russell's contribution to the old "Side Street God" website by going to "Resources" and clicking the "Guest Posts" button.