
Donald Hay
University of Oxford
Convening Panel
Affiliations
Emeritus Fellow, Jesus College, University of Oxford
Biography
DONALD HAY was an active member of the University of Oxford Department of Economics 1970-2000. His research interests included applied industrial economics, and the interface between Christian ethics and economics. His published work included one of the first papers on strategic entry deterrence in spatial markets, a paper on the impact on manufacturing firms of the Brazilian trade liberalization, a monograph (with Derek Morris, Shujie Yao, and Guy Liu) on the effects of market liberalization on Chinese manufacturing firms, and a book on Christianity and economics. He also maintained an interest in the reform of competition policy in the UK. He taught microeconomics, industrial organization (at both graduate and undergraduate level), and supervised several doctoral theses in industrial economics. He published, with Derek Morris, an advanced textbook, Industrial Economics and Organisation: Theory and Evidence (second edition, 1991). In 2000 he became the first Head of the Division of Social Sciences in the University, a position he held for five years. He acted as Pro Vice Chancellor for Planning and Resources 2006-7, and was responsible for the implementation of the University Resource Allocation System (the JRAM) in 2009. Since 2009 he has been fully retired. His main interest in retirement has been the development of a program, Developing a Christian Mind, to enable Christian graduate students, researchers and academics (across all disciplines) to begin to integrate their faith and their academic activities.
Research Focus
[Please note: I retired ten years ago, and because of the responsibilities of my last two positions in the University of Oxford, I was not fully research active from about 2000 onwards.]
- Exploring and interpreting Biblical material that relates (broadly) to economic activities and flourishing, seeking to identify themes that transcend the original contexts and can be (cautiously) applied to contemporary economic issues.
- Researching academic and (serious) popular literatures related to my involvement with the Social Sciences and Law stream of the Developing a Christian Mind programme in Oxford. Three core topics form the foundation for the stream: Social scientific and Christian understandings of human beings in society; Social ethics in the social sciences – theological and secular approaches; and Political authorities – the contribution of Christian political theory. I seek to keep abreast of key literatures relating to the first two topics, to ensure that the material presented in DCM is relevant to graduate students currently studying and researching in the social sciences and law.
- Ongoing work with Professor Gordon Menzies of UTS Sydney, Australia, exploring economic behaviour from the standpoint of Biblical anthropology. The work is partly a critique of existing assumptions in neoclassical economics of ‘rational economic man’, and partly an attempt to model behaviour analytically with foundations drawn from Christian anthropology.
GFI Writings
Donald Hay
Gordon Menzies
Bringing the Love Command to Markets
The ‘Genius’ and Challenge of Markets # At the core of economic analysis is the idea that there are gains from trade between economic agents, such as individuals, businesses, states. The simplest formulation has two agents with different endowments of goods, who by trading with each other can…
Donald Hay
Gordon Menzies
Bringing the Love Command to Markets
The ‘Genius’ and Challenge of Markets # At the core of economic analysis is the idea that there are gains from trade between economic agents, such as individuals, businesses, states. The simplest formulation has two agents with different endowments of goods, who by trading with each other can…
Gordon Menzies
Donald Hay
Economics and the Virtues
We suspect that most economists, both academic and professional, if asked to comment on the role of the virtues in economics, would look somewhat surprised to be asked, as the virtues do not figure in the standard frameworks of economics as currently practiced. The exception might be those whose tra…
Donald Hay
Gordon Menzies
Order in Market Economies
The market economy is an example of a human order in civil society which arises from the desire and willingness of economic actors to trade with each other in goods, services, and in factors of production such as the land, labour and capital that are utilised to produce those goods and services. The…
Donald Hay
University of Oxford
Was the 2008 Financial Crisis a Collapse of Virtue?
This is a very informative and stimulating outline of the argument, and I look forward to the full version to follow, which may address some of the following comments and queries. Professor Herdt writes: ‘Virtue ethics helps us to think holistically about how groups, institutions such as universitie…
Donald Hay
University of Oxford
What About the Noetic Effects of Sin in the Academic Search for Truth?
The exposition concentrates on just one implication of created order - that is, moral order with implications for ethics generally and more specifically political order. For that I found it excellent, and the applications in the last three sections more than compensated for the fairly abstract reaso…
Donald Hay
University of Oxford
Economists Are Dissatisfied with GDP as a Measure of Flourishing
The three-part conception of flourishing (agential, circumstantial and emotional) is very helpful in reflecting on the approaches to human flourishing that are part of an ongoing discussion in economics and related disciplines. More specifically, the issue of ‘flourishing’ or ‘welfare’ has a long hi…
Donald Hay
University of Oxford
Where Does Christian Thought Fit in Contemporary Writings on Justice?
I found the preview very clear and helpful. Here are some connections with my current academic preoccupations: Is the desire for justice a fundamental human characteristic, and if so, what is its origin? How might a Christian understanding relate to those of evolutionary psychology and social constr…
Donald Hay
Gordon Menzies
Climate Change Justice
The call for climate justice has come from many environmental campaigners in recent months, not least from the lips of Greta Thunberg and her young followers. It is less evident in the vocabulary of environmental economists, but a type of ‘justice’ is implicit in the analysis that economists present…