Theology of Money by Philip Goodchild, published in 2007 by SCM Press and reissued in 2009 by Duke University Press, is a profound philosophical and theological inquiry into the nature, role, and pervasive influence of money in contemporary society. Goodchild, a Professor of Religion and Philosophy at the University of Nottingham, argues that money functions as a transcendent force akin to a global religion, supplanting traditional moral and ethical frameworks with an abstract, anarchic system of economic valuation. Engaging with Christian theology and thinkers like Carl Schmitt, Georg Simmel, Karl Marx, and Adam Smith, the book develops a “theology of money” through four central contentions: first, money lacks intrinsic value, serving as a promise of future value; second, it has become the supreme value in modern society, subordinating moral evaluation to economic logic; third, monetary value is inherently future-oriented, rooted in expectations and trust, perpetually deferring realization; and fourth, money, created as debt, imposes a system of social control through obligations to repay, driving the expansion of the global economy.

Structured in three parts, the book first challenges the modern assumption of human freedom and rational mastery over nature and society, arguing that money constrains both through its role in ecological crises and economic systems. Goodchild critiques how money, as a “social technology,” shapes time, attention, and desire, functioning as a “supreme being” that demands devotion, akin to God in traditional religion. He explores the political economy of money—encompassing markets, capital, banks, the state, class divisions, and accounting practices—highlighting how it creates a “vicious circle” where debt necessitates profit and further money creation, exacerbating inequality and environmental degradation. The second part delves into the ecology and politics of money, examining how it structures power relations and undermines autonomy, while the third part addresses ontological and evaluative questions, proposing a theological critique that questions the “value of values.” Goodchild draws on Jesus’s teachings to probe whether economic metrics like market price or GDP reflect true value, suggesting that money “veils the source of the value of values” by prioritizing quantifiable wealth over intangible human and ecological goods. He tentatively proposes reforming money and credit systems to prioritize “evaluative credit” that aligns with ethical and ecological priorities, though he acknowledges the speculative nature of these solutions.

Goodchild’s dense, concise prose demands familiarity with economics, philosophy, and theology, making it a challenging but rewarding read. Critics praise its originality and incisive analysis, with William E. Connolly calling it “indispensable” and Catherine Pickstock noting its “startlingly simple” thesis, though some, like Johan J. Graafland, critique its exaggerated view of money’s role and lack of clarity in defining money’s meanings. The book, with a 4.2/5 rating on Goodreads from limited reviews, is lauded for its contribution to political theology and continental philosophy but criticized for its limited engagement with practical solutions or biblical exegesis, as noted by Geoffrey Holsclaw. Available in paperback, hardcover, and eBook formats, Theology of Money is a vital text for scholars of political theology, economics, and philosophy, offering a radical critique of capitalism’s metaphysical underpinnings and a call to reimagine value in a world dominated by debt and desire