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Economy

CLEVELAND (RNS) The Euclid Avenue Church of God and the former Episcopal Church of the Transfiguration sit empty on this city’s former Millionaires’ Row, remnants of a heyday when mansions marched east from downtown. Their congregations have fled. And historic preservationists fear that both churches will disappear, too, swallowed up by the nearby Cleveland Clinic’s […] Read More

Mention the word “creation” and we are likely to find ourselves in a discussion of evolution and some version of intelligent design, due to the persistence of the pseudo-conflict between science and religion. Such arguments shortchange the profound biblical affirmation of the relation of Creator-creature-creation and the delicate interdependent balance that is the nature of […] Read More

VATICAN CITY (RNS) The world economy needs “new rules” to overcome the current financial crisis and to ensure that “all can lead a dignified life,” Pope Benedict XVI told Vatican diplomats on Monday (Jan. 9). Benedict’s New Year’s address to diplomats accredited to the Holy See traditionally presents the Vatican’s views on global affairs. The […] Read More

VATICAN CITY (RNS) Europe’s economic and financial crisis is the consequence of an “ethical crisis” and a “crisis of faith,” Pope Benedict XVI said Thursday (Dec. 22), resulting in the triumph of selfishness over social responsibility. Benedict made his remarks in his annual Christmas speech to the Roman Curia, the Catholic Church’s central administration at […] Read More

(RNS) James A. Roberts was watching an ABC News Nightline episode on basketball legend Shaquille O’Neal recently when he heard about the size of the retired player’s Florida home: 70,000 square feet. Even for a man who spends his time studying consumer behavior as a marketing professor at Baylor University, Roberts was stunned. His latest […] Read More

One week before the Great Crash of October 1929 – which precipitated the Great Depression – Irving Fisher of Yale University, perhaps the most distinguished U.S. economist of his time, claimed that the American economy had attained a “permanently high plateau.” Three years later, the national income had fallen by more than 50 percent. No […] Read More

(RNS) Charitable giving is trickling back up as the economy heals, but it could take years to return to pre-recession levels, nonprofit leaders say. Giving totaled $291 billion in 2010, according to the 2011 annual report by the Center on Philanthropy at Indiana University. That’s up 3.8 percent from 2009 and follows two consecutive years […] Read More

Twice in the last four years I have spied Benton Harbor, Mich., a once flourishing factory town that has suffered all manner of ills: bad leadership, racial conflicts and more. Its downtown is ghostly. The most devastating blow occurred when Whirlpool abandoned it and its workers some years ago. A recent Wall Street Journal article […] Read More

(RNS) A small but growing number of religious communities across the country are removing their money from Wall Street banks to protest what they see as unfair mortgage foreclosures and unwillingness to lend to small businesses. The New Bottom Line (NBL) coalition of congregations, community organizations, labor unions and individuals is promoting a “Move Our […] Read More

While sitting in the Nashville International Airport reading the newspaper recently, a mustachioed Frenchman sitting next to me started up a conversation. In the interest of space and clarity, I’m skipping my part of the conversation: “Occupy Wall Street is a paper tiger. All drums and no message. If you want to change the system […] Read More