No, I don’t think this works. The faith James is talking about as “dead” is the same faith demons have. It is clear that this is not the same thing as the faith spoken of as salvific elsewhere in Scripture. The faith St. Paul speaks about is a gift of God. Demonic faith is not a gift of God. Therefore, St. James is using the word “faith” in an equivocal sense.
This is the only point where I really disagree with Catholicism on justification, although my premise (that demonic faith is not the same thing as the faith that is a gift of God) is shared by St.
Thomas Aquinas (see ST II/II, question 5, art. 2, reply to obj. 2; this leads him to posit an “unformed” faith which is a gift of God but still needs to be formed by love in order to become living, and a demonic faith which is not really faith at all–this, in my opinion, takes the wind out of the sails of the common Catholic appeal to James to support the notion of unformed faith).
Edwin