A “Marketless World”? An Examination of Wealth and Exchange in the Gospels and First-Century Palestine
Research on the economic context of Jesus’ teaching on wealth and exchange points to the need to take into account the nature and extent of market arrangements in first-century Roman Palestine. This context involves changing relations among reciprocity, redistribution, and market exchange. Studies of the relevant archeological evidence point to intra- and inter-regional trade, increasing specialization, and monetization. This article claims that in the Gospels we find Jesus recognizing a growing role for market exchange and a legitimate pursuit of economic gain through risk-taking alongside of the need for the practice of general reciprocity. Perceived hostility toward wealth and market exchange is explained in terms of the institutional features of the Palestinian agrarian economy, including extractive wealth transfer by the Roman state and religious authorities. The article concludes that Jesus’ teachings on wealth and market exchange have greater moral relevance to modern economic life than is commonly thought. Edd S. Noell, "A 'Marketless World'? An Examination of Wealth and Exchange in the Gospels and First-Century Palestine," Journal of Markets & Morality 10, no. 1 (Spring 2007): 85-114
The Social World of Jesus
The world into which Jesus was born in Galilee was thoroughly Jewish. It was also divided along social and economic lines and by the manner in which Jews dealt with gentiles. This is evident from different ways in which Jewish identity was conceived and differing attitudes toward land and temple. Jesus' teaching reflects this social context and interacts with it.
Corporations and the Market for Law
The state competition for corporate law has long been studied as a distinct phenomenon. Under the traditional view, corporations are subject to a unique choice-of-law rule, the internal affairs doctrine (IAD). This rule is explained as a historical accident, or by the special logistics of the corporate contract. The resulting market for corporate law appears to have special characteristics, particularly including the dominance by the single state of Delaware. This paper challenges the traditional view. It shows that the corporate law market is best understood as a special application of the general market for law. Any differences are matters of degree rather than kind, and are explained by considerations underlying enforcement of all choice-of-law contracts rather than by factors unique to corporations. It follows that theories of corporate competition that ignore the broader law market context are incomplete, and that the competition for corporate law carries lessons for the law market generally. Moreover, the connection between the corporate and other law markets has implications for the nature of corporate law, the constitutional status of the IAD, the scope of the IAD, and for the relationship between state and federal law.