Barry Blitt, for The New York Times

Martin Marty, frequent commenter on things publicly religious, wrote this week of “the decline of the culture wars.” His Sightings column was citing Frank Rich’s New York Times op-ed on the same subject.

This isn’t the first time people have tried to bring a stalemate to the “culture wars.” But I was reminded of the subject at President Obama’s press conference this week, in an exchange between President Obama and John Ward of the Washington Times. Ward asked the President about stem-cell research (from the Washington Post transcript):

QUESTION: In your remarks on stem cell research earlier this month, you talked about a majority consensus in determining whether or not this is the right thing to do, to federally fund embryonic stem cell research.

I’m just wondering, though, how much you personally wrestled with the morality or ethics of federally funding this kind of research, especially given the fact that science…

The floor of the New York Stock Exchange. Photo: Richard Drew/Associated Press

It has been almost ten years since Harvey Cox wrote his prescient analysis of “The Market as God” (1999). It appeared in The Atlantic Monthly, and immediately made waves. Current events have made his insights even more prophetic now than when they first appeared. To summarize:

Since the earliest stages of human history, of course, there have been bazaars, rialtos, and trading posts—all markets. But The Market was never God, because there were other centers of value and meaning, other “gods.” The Market operated within a plethora of other institutions that restrained it. As Karl Polanyi has demonstrated in his classic work The Great Transformation, only in the past two centuries has The Market risen above these demigods and chthonic spirits to become today’s First Cause.

I remember being struck by the article then. But I was reminded of it again by…