Read this very fine article from Touchstone in which David Lyle Jeffrey writes: From the perspective of one who values freedom of choice, individualism, and the market, the proliferation of new translations and paraphrases of the Bible must seem, on the whole, a good thing. From a perspective that places a greater value on theological probity, spiritual understanding in the laity, and coherence in the witness of the Church, however, the plethora of English translations and the Babel-like confusion of tongues they create is arguably a calamity. While every new translation is evidently a “market opportunity” and may express in some way the particular slant or voice of individual denominations on certain doctrines, the dissonance and “white noise” of competing Bibles tends to confuse rather than clarify discussion across denominational boundaries. In fact, the “Babel effect” intensifies the confusion.
Jeffrey also puts this plethora of translations and editions of the Bible into the perspective of capitalism: All of these makeovers of Holy Scripture are—at least in part—market
driven. It is clear that most of them make money, but it is much less
clear that they serve to enrich, let alone unify, the Christian Church.
Even less is it clear that they assist even the most forbearing reader
in seeing in what sense the Scriptures are given as “one Word of God,”
pointing to Christ and not to us, or, as St. Paul puts it to Timothy,
“given by inspiration of God, and profitable for doctrine, for reproof,
for correction, for instruction in righteousness” (2 Tim. 3:16). Many of
the niche editions seem rather to be packaged in such a way as to
justify, in some measure, current fashions and practices of the
sub-groups to which they are directed. This makes them profitable for
the publishers, but not so “profitable,” at least in the sense intended
by the Apostle, for the Church.