Capitalism, Religion, Business Legitimacy, and the Ethical Economy

  • Jacob Dahl RendtorffEmail author
Living reference work entry


This chapter addresses the difficult problem of the legitimacy of the corporations in modern society from the perspective of the relation between economics and religion. In the perspective of the religious foundations of economics, the chapter discusses different approaches to economics, based on different economic theories and concepts of the economy. The debate about legitimacy of the economics of the firm represents in modern economics the place of intersection between economic values and other values. With this approach, the chapter discusses modernist economics of neoliberalism and welfare economics from the point of view of social legitimacy of economics. Moreover, the chapter presents institutionalist alternatives to neoliberalism and welfare economics in the context of postmodernism and search for a more sustainable transformation of economics in society.


Protestant ethics Catholic economic thought Chicago school of economics Institutional economics Welfare economics 


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Authors and Affiliations

  1. 1.Department of Social Sciences and BusinessRoskilde UniversityRoskildeDenmark

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