Economics

Religion and the Rise of Capitalism

Religion and the Rise of Capitalism

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  • Create Date：2022-04-03 08:51:34
  • Update Date：2025-09-06
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  • Author：Benjamin M. Friedman
  • ISBN：0593311094
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Summary

From one of the nation's preeminent experts on economic policy， a major reassessment of the foundations of modern economic thinking that explores the profound influence of a previously unrecognized force--religion。

An original and brilliant new perspective on the terrifying divisions of our own times。 No book could be more important。" --George A。 Akerlof， Nobel laureate in economics

Critics of contemporary economics complain that the commitment to free markets is a form of religion。 As it turns out， there is something to this claim--but in a deeper， more historically grounded sense。 Contrary to the conventional view of economics as an entirely secular product of the Enlightenment， Benjamin M。 Friedman demonstrates that religion has exerted a powerful influence from the outset。 Beginning in the eighteenth century， hotly contended lines of religious thought within the English-speaking Protestant world decisively shaped what we now call economics。 Friedman immerses us in the era's debates about God-given human character， the afterlife， and the purpose of our existence。 These deep religious influences also go far in explaining the puzzling behavior of those today whose views seem sharply at odds with what would be to their own economic benefit。 As one of the nation's preeminent thinkers on economic policy， Friedman provides fascinating insights into our current debates by exploring the little-recognized force of religion。

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Reviews

عبد الله القصير ，

الكتاب ليس لي！

Stephanie ，

Excellent， though definitely for a very niche audience。

Cynthia Marcus ，

An in-depth study of religion and its influence on economic theory and capitalism。 It is an interesting， scholarly read。

Deirdre ，

I really liked parts of this book！ But found other parts very hard to follow without a philosophy degree！！

Bob Peru ，

a lucid and unusually well written account of the two scourges of ‘the american way’。 the curse of ridiculous thinking leading to the tragedy of unbridled crony capitalism。 a pox on both their houses。

Philip Brown ，

In depth treatment of the relationship between Christian and economic thought， tracing their impact on one another from the 17th century through to today， as the author seeks to discover why a statistically significant number of evangelicals in the US “vote against economic policy that would benefit them。” A fascinating read。

Alex Broughton ，

Well-researched book about how religion affects culture， which in turn affects economics。 Deep coverage of the social and religious environment in Scotland at the time of Adam Smith's Wealth of Nations。 The author also does a good job of indicating how Smith's book is frequently misunderstood and misquoted。 The book then shifts its focus to the US in the 19th century through to the current time， helping to explain how ostensibly religious people have come to be associated with right-wing economi Well-researched book about how religion affects culture， which in turn affects economics。 Deep coverage of the social and religious environment in Scotland at the time of Adam Smith's Wealth of Nations。 The author also does a good job of indicating how Smith's book is frequently misunderstood and misquoted。 The book then shifts its focus to the US in the 19th century through to the current time， helping to explain how ostensibly religious people have come to be associated with right-wing economics。 。。。more

Genae Matthews ，

Giving this three stars because though it presented the 'origins' of capitalism in a really interesting way （and also painted a nuanced portrait of Adam Smith）， it was also trying to do too many things。 At first， it read like a philosophy/history of phil book， but then it sort of became a general U。S。 History book。 There was way more historical context provided than was needed to make the actual argument I thought -- the book would have been a lot better had it stayed an intellectual history boo Giving this three stars because though it presented the 'origins' of capitalism in a really interesting way （and also painted a nuanced portrait of Adam Smith）， it was also trying to do too many things。 At first， it read like a philosophy/history of phil book， but then it sort of became a general U。S。 History book。 There was way more historical context provided than was needed to make the actual argument I thought -- the book would have been a lot better had it stayed an intellectual history book the whole time， as the times when it did so were truly fantastic。 。。。more

Alysha DeShaé ，

I feel as though this book covered a lot of stuff that doesn't really relate to the topic at hand。 But then again， I also feel as though I didn't understand much of it and I can't tell if that's because I was bored， it was poorly written， or something else。 😹 I feel as though this book covered a lot of stuff that doesn't really relate to the topic at hand。 But then again， I also feel as though I didn't understand much of it and I can't tell if that's because I was bored， it was poorly written， or something else。 😹 。。。more

Joanne ，

I think this book is important， but the book is more like a college textbook。 I was an economics major and found it difficult to read。

Remi ，

1/3 into the book and it remains unaddressed how religion and the rise of capitalism are connected， except that they occurred at the same time。 Religion permeated society （for centuries already）。 Then capitalism rose。 In this book， these two phenomena remain entirely separate stories。

Michael Willcox ，

Half economic history and half church history。 I found it fascinating。

Richard Marney ，

A powerful book in its scope and insight around the role of theology and religious activism in the evolution of attitudes towards wealth and economic policies since before Adam Smith。As advertised， the reader will take away a deeper understanding of many aspects of the seeming paradox between pro-rich tax and regulatory policies and the unquestioning support of the citizens whose welfare is most adversely affected。 Be prepared for a long and arduous trek through the book。 Well worth the effort t A powerful book in its scope and insight around the role of theology and religious activism in the evolution of attitudes towards wealth and economic policies since before Adam Smith。As advertised， the reader will take away a deeper understanding of many aspects of the seeming paradox between pro-rich tax and regulatory policies and the unquestioning support of the citizens whose welfare is most adversely affected。 Be prepared for a long and arduous trek through the book。 Well worth the effort tho’！！ 。。。more

Daniel Farabaugh ，

This was a very dense book that does a very deep dive into the philosophies that govern both modern Christian thought and economics。 The author does a very good job of elaborating on his argument and proving his point。 It is a nice academic look at the topic。

Tibor Hanappi ，

The chapters on Adam Smith are really interesting and engaging but I felt that the remainder of the book was somehow lacking a narrative。 It seemed to be not much more than a partial run through the history of economic thought in the US - I had expected a somewhat broader perspective and a more thorough discussion of （i） what this means for economics as a science and （ii） public debate about economic policy issues。

Maynard Handley ，

This is essentially three books in one。 Whether you consider that a bonus or a detraction depends on what you want。。。The first book matches the title; it discusses the genesis and rise of Calvinism， and how that shaped the intellectual climate of Mandeville， Smith， the Enlightenment， and the first few economists。 The second book is more a "Religion in Early America"。 It begins with the Puritans and so can be argued as a continuation of the first theme， but after the formation of the US proper， i This is essentially three books in one。 Whether you consider that a bonus or a detraction depends on what you want。。。The first book matches the title; it discusses the genesis and rise of Calvinism， and how that shaped the intellectual climate of Mandeville， Smith， the Enlightenment， and the first few economists。 The second book is more a "Religion in Early America"。 It begins with the Puritans and so can be argued as a continuation of the first theme， but after the formation of the US proper， it becomes more of a "History of Christianity in the US， with occasional references to business"。 Think discussion of the Prosperity Gospel vs， alternatively， the Social Gospel。 The third book has the previous themes enter the 20th century， as we see （perhaps in reaction to communism， perhaps in reaction to modernity） the fusing of a certain theory of economics with a certain theory of christianity to eventually give us the religious right。 The first book I found satisfactory; nothing especially surprising but a nice summary of the material。The second book was adequate， not great。 It could have been far better if if had been more ambitious， covering eg Europe and Russia， not just the US， and even branching out to South America and colonization。 The third book was a waste of time。 Nothing you aren't very much aware of， and without even interesting long duree historical context。 For example， my guess is that there have always been these links between businessmen and the Church （think Cardinal Wolsey or Richelieu）， and putting people like Pepperdine or Moody， or the friendship between Billy Graham and multiple presidents， in this longer context would have been far more helpful than simply repeating the story about them we already know。 。。。more

Rob Barry ，

I believe the author makes a very strong case to support his theses （his words below）:1。 The commonplace assumption that economic ideas stand apart from religious ideas is not true。 From its inception as a recognizable intellectual discipline， economics has been influenced by religious ideas。2。 Ordinary citizens bring to public policy debates a worldview that rests on presumptions that originate in religious thinking。 Clearly understanding the substandard origins of the worldview that underlies I believe the author makes a very strong case to support his theses （his words below）:1。 The commonplace assumption that economic ideas stand apart from religious ideas is not true。 From its inception as a recognizable intellectual discipline， economics has been influenced by religious ideas。2。 Ordinary citizens bring to public policy debates a worldview that rests on presumptions that originate in religious thinking。 Clearly understanding the substandard origins of the worldview that underlies our fellow citizens’ participation in these debates is sure to make the democratic process work better。Further， I found the book extremely readable and thought-provoking。 I was particularly fascinated by his descriptions of Protestant theology; the book is worth reading just for these insights。 。。。more

Josh Yerkes ，

The connections between economic philosophy and religious worldview is astoundingly evident when you look on the past 400 years。 One may think that with the rise of so-called secularism that it’s influence on economics and policy has waned。 This is not the case as Friedman speaks of the social gospel and other ideologies that emphasize the need to bring everyone to egalitarian levels is prevalent today in many churches and political groups also。 The interesting thing was the understanding of esc The connections between economic philosophy and religious worldview is astoundingly evident when you look on the past 400 years。 One may think that with the rise of so-called secularism that it’s influence on economics and policy has waned。 This is not the case as Friedman speaks of the social gospel and other ideologies that emphasize the need to bring everyone to egalitarian levels is prevalent today in many churches and political groups also。 The interesting thing was the understanding of eschatology and ones view of the world and their part in it。 I may disagree with Friedman’s conclusions in the end and the characterization of Calvinism， but this was a well done and highly appropriate handling of the subject。 。。。more

firo ，

Covers pre-enlightenment thought which influenced Adam Smith and eventually reaches modern American politics and the consequences of various religious movements on public policy。 As someone with only cursory knowledge of Christianity， this book hugely informative。 Helped clarify the differences between Catholicism and the countless permutations of Protestantism。 Dry at times， deeply compelling at others。

Maria ，

Friedman traces in detail the ways that religious theology and thought influenced the study of economics in Western thought and how it continues to influence it today。 Fascinating， as both subjects grapple with what makes society happy and does the most good。 Why I started this book: Intriguing title， and I love a good history。Why I finished it: This history was jammed full， tracing the shifts in thought among educated elites and then general society。 There were a lot of names， and for a while I Friedman traces in detail the ways that religious theology and thought influenced the study of economics in Western thought and how it continues to influence it today。 Fascinating， as both subjects grapple with what makes society happy and does the most good。 Why I started this book: Intriguing title， and I love a good history。Why I finished it: This history was jammed full， tracing the shifts in thought among educated elites and then general society。 There were a lot of names， and for a while I lost the plot with the audio。。。 75% my fault and 25% that Friedman explained the history and then at the end tied it into his thesis， instead of weaving his thesis through out。 Interesting to see the religious influence then and now on public views of economics。 。。。more

Vincent Tirolo ，

Helps Me Better Understand Our Contemporary PoliticsI found the story of connection between of religion and economics surprising and convincing。 It’s amazing these connections have such a profound impact on the US today。 Wonderful scholarship。

Sarah ，

On Martin Wolf's summer reading list: https://pca。st/episode/1dc857a8-3838-。。。 On Martin Wolf's summer reading list: https://pca。st/episode/1dc857a8-3838-。。。 。。。more

Peter ，

Benjamin Friedman is an economics professor at Harvard University。 His Religion and the Rise of Capitalism （2020） is the latest in a line of books dealing with religion and capitalism。 The first was sociologist Max Weber's 1905 The Protestant Ethic and the Spirit of Capitalism。 In 1922 the British historian R。H。 Tawney published his Religion and the Rise of Capitalism， from which Friedman borrowed his title。 All three deal with the role of religion—particularly Calvinism—as an agent supporting t Benjamin Friedman is an economics professor at Harvard University。 His Religion and the Rise of Capitalism （2020） is the latest in a line of books dealing with religion and capitalism。 The first was sociologist Max Weber's 1905 The Protestant Ethic and the Spirit of Capitalism。 In 1922 the British historian R。H。 Tawney published his Religion and the Rise of Capitalism， from which Friedman borrowed his title。 All three deal with the role of religion—particularly Calvinism—as an agent supporting the widespread acceptance of the unfettered laissez-faire model of economic progress。 Friedman's book is a sweeping， well-argued， and deeply researched tale of the seeds of the "science" of economics in religious thought， beginning with the Scottish Enlightenment （Adam Smith and David Hume）， continuing through the English Enlightenment represented by Isaac Newton and the Royal Society， and moving on to the American experience circa 1820-30。 Friedman demonstrates how religion and science worked hand-in-hand to create the modern economy。 This book belongs on the Economic History/History of Economic Ideas bookshelf of anyone interested in the development of economics and of the modern world。 My only caveat is that I found this a difficult book to read because of the remarkable range of ideas and sources covered in its 450 or so pages of text—each page has an observation， a quote， or a new voice that makes the reader pause and think; each page introduces you to a new contributor and his contribution to the link between religion and economics。 It;s a book that requires stamina。 The Protestant Ethic and the Spirit of Capitalism has such depth and breadth that it cannot be fairly reviewed in the space allowed; my full review can be found here 。。。more

Miguel ，

The treatment of Adam Smith in terms of looking at his overall career， thought and work was exceptional here。 I would gladly read anything that Friedman would care to write about Smith and found myself highlighting much of the first 4 chapters that discuss this topic。 The subsequent chapters dealing with religious thinkers especially in early America were less interesting personally although one can certainly appreciate the scholarly detail here。 The work as a whole solidified prior assumptions The treatment of Adam Smith in terms of looking at his overall career， thought and work was exceptional here。 I would gladly read anything that Friedman would care to write about Smith and found myself highlighting much of the first 4 chapters that discuss this topic。 The subsequent chapters dealing with religious thinkers especially in early America were less interesting personally although one can certainly appreciate the scholarly detail here。 The work as a whole solidified prior assumptions that much of what we see in modern US politics and social attitudes are deeply driven by earlier adherence and belief in concepts like prosperity gospel teachings and those few within the religious structures that put up objections were largely pushed aside。 Overall， enjoyed the economics parts and the religious ones less so。 。。。more

Fraser Kinnear ，

The central argument of this book is that our ideas about economics and economic policy have long-standing roots in religious thinking。 How？… the creators of modern economics lived … when belief in predestination was in retreat among English-speaking Protestants。 I argue that what opened the way for the early economists’ insight into the beneficial consequences of individually motivated initiative carried out in competitive markets was the expanded vision of the human character and its possibili The central argument of this book is that our ideas about economics and economic policy have long-standing roots in religious thinking。 How？… the creators of modern economics lived … when belief in predestination was in retreat among English-speaking Protestants。 I argue that what opened the way for the early economists’ insight into the beneficial consequences of individually motivated initiative carried out in competitive markets was the expanded vision of the human character and its possibilities that the movement away from predestinarian Calvinism fostered。 Further， this benign sense of our human potential， enabled by the historic transition in religious thinking that first preceded and then accompanied it， has continued to influence the trajectory of modern Western economic thinking ever since。 Friedman’s centerpiece is the influence of Christian theological debate on Scottish Enlightenment thinkers like Hume and Smith。 But he also looks forward in time and backward in time， spotting other instances of intellectual prior art。For example， the benefits of balanced conflicting interests may date back to Augustine: A more optimistic way of thinking about the practical consequences of self-interest， especially in the economic sphere， first emerged late in the seventeenth century， in France。 Oddly， the fount from which this optimism developed was a group within the Roman Catholic Church that took a harshly negative view of the human character。 The Jansenists—followers of the Dutch-Belgian bishop Cornelius Jansen， who had been active in Paris as well—were Augustinians， committed to St。 Augustine’s view of the centrality of sin in human existence。 But Augustine also held that the behavior spurred by sin is， in some degree， the remedy for sin。 Man’s socially destructive impulses are partly held in check， he thought， by other human desires that are also the consequence of his sinful nature。 As a result， men have some ability， albeit limited， to live together peaceably。 （Augustine similarly saw human institutions such as marriage， slavery， private property， and the state as partial remedies for pervasive sinfulness。） Or pro-growth theories all the way back to Aristotle （and， referenced elsewhere， Montesquieu）:Aristotle had suggested that higher living standards foster democracy。 [Aristotle， Politics， Bk。 6， Ch。 5， 375。] Hume now argued that a higher material standard of living promotes “industry， knowledge and humanity，” and ultimately liberty。 [Hume， “Of Refinement in the Arts，” 302; 313; 306] Higher living standards brought the spread of science， improved prospects for self-government， more benevolent behavior， and more polite manners。 The theme of material progress leading to moral improvement ran throughout his later History of England， and in time it became a centerpiece of Enlightenment thinking。 Despite its title， Friedman isn’t only interested in economics （let alone capitalism）。 Perhaps this is because， as Kuhn would point out， authors like Smith and Hume were writing and inventing during a time when theories around economics and psychology were not mature enough to be distinct fields。 As a result， I came away interested in reading Smith’s “Theory of Moral Sentiments”， which Friedman describes in the following way:Wholly apart from the danger to our moral character， Smith offered a sophisticated psychological argument for thinking that many people are misguided not just in their desire for specific objects they might buy but even in their aspiration for a higher material standard of living overall。 The reason， he believed， is that they fail to anticipate that getting used to some new living standard—either higher or lower—will change the way they see matters。 “The great source of both the misery and disorders of human life，” he wrote， “seems to arise from over-rating the difference between one permanent situation and another”: between riches and poverty， as well as between obscurity and having a public reputation。 To the contrary， it was a never-failing certainty that all men， sooner or later， will accommodate themselves to whatever becomes their permanent situation。 Because of this human capacity to adapt to whatever life brings us， his beloved stoics had been right that “between one permanent situation and another there was， with regard to real happiness， no essential difference。” Such are the moral tendons that join personal morality to communal economics。 It’s no wonder that Friedman found so much content from which to draw his argument。These days， I find Girard in everything I read。 Here’s the moment from this book:Calvin went on to define original sin， which all humans acquired from Adam’s sin， as “a hereditary depravity and corruption of our nature， diffused into all parts of the soul。” Nor was original sin a matter of our being punished for what was merely our ancestors’ error。 “This is not liability for another’s transgression，” Calvin insisted。 “We through his transgression have become entangled in the curse…not only has punishment fallen upon us from Adam， but a contagion imparted by him resides in us。” And， somehow， the most recent books I’ve read also find resonance。 A week after I read Lock’s Two Treatises， I find Friedman using Locke to counter Calvin （and Girard）: Locke’s tract on the Reasonableness of Christianity， published just the next year， was part of this attack on the Calvinist doctrines of depravity and predestination。 Locke acknowledged the centrality to Christianity of the biblical story of the Fall， but he rejected outright the claim that Adam and Eve’s failing contaminated all humans forevermore。 “It is obvious to any one， who reads the New Testament，” he began， “that the doctrine of redemption…is founded on the supposition of Adam’s fall。 To understand， therefore， what we are restored to by Jesus Christ， we must consider what the scripture shows we lost by Adam。” And， in greater detail， here is Locke implicitly rejecting Girard’s theory of culture:Beyond arguing from his own close reading of scripture， Locke also brought his expertise as a political theorist to bear on the question。 Drawing on Hobbes’s well-known discussion in Leviathan of what justified one person’s standing as a representative of someone else—an issue that had been at the center of the conflict between king and Parliament in the 1640s （and that would figure again in the debates leading up to the American Revolution）—Locke asked what made Adam a legitimate representative of the entire human race to such an extent that his sin could affect all of his progeny。 In advancing the doctrine of depravity， Calvin had written that “Adam was not merely the progenitor but， as it were， the root of human nature; and that therefore in his corruption mankind deserved to be vitiated。” I saw a similar argument employed the same way in Locke’s First Treatise， which is arguably about the impossibility of justifying any sort of inheritance。 There’s loads more in this book。 But I was disappointed in a promise made early on that I don’t think Friedman kept。 I didn’t find a truly compelling argument explaining （either through justifying or contradicting） the contemporary progressive argument that many （poor） conservative voters are incoherently voting for policies that work against their interest。 There is plenty of content about gospel of Wealth and Great Awakening， etc。， but not enough connecting the dots to modern behavior。 。。。more

Ron Nurmi ，

a look at how religious thought influenced both thinkers and actors in what is known as Economics especially since Adam Smith wrote the Wealth of Nations。

Robin Bittick ，

This is an excellent work showing the theological and religious influences on economic thinking in the modern era。 I highly recommend this book for readers of social sciences， economics， political science， and religion and politics。

Beth ，

Brilliant insight into the foundation that created the American mythos as well as the evolution of the Protestant religions。 It sheds light on the shape of politics today; past truly is prologue。 I highly recommend it。

Will Norton ，

It has been sometime since I read this book but the history of religion in America is the most accurate description of the dialogue from what I remember。 Many of the theological themes found in America from the Puritans to Billy Graham are explained and described。 The thoughts on the economic theory that guides America since its founding is somewhat treated as a subtext to that religious history。 America has always been unique in its thoughts of private property and encouraging the work ethic al It has been sometime since I read this book but the history of religion in America is the most accurate description of the dialogue from what I remember。 Many of the theological themes found in America from the Puritans to Billy Graham are explained and described。 The thoughts on the economic theory that guides America since its founding is somewhat treated as a subtext to that religious history。 America has always been unique in its thoughts of private property and encouraging the work ethic although this is now formed in competition between foreign nations that have adopted some of these practices。 The theology of Capitalism is distinctive but I did find the religious history informative along the lines of the thought pattern。 。。。more

J。J。 ，

3。5。 It's an economic history of how religious ideas and economic ideas from the Enlightenment were passed down through history to modern American economic and political thought。 Of especially compelling were the ideas that a two party system will only advance two main ideas and with the demographics of current American religious， political， and economic thought， that is not enough representation。 I would have given it 4 stars because of its thought provoking nature and thorough historical resea 3。5。 It's an economic history of how religious ideas and economic ideas from the Enlightenment were passed down through history to modern American economic and political thought。 Of especially compelling were the ideas that a two party system will only advance two main ideas and with the demographics of current American religious， political， and economic thought， that is not enough representation。 I would have given it 4 stars because of its thought provoking nature and thorough historical research， but economic history is still a bit dry。Also of note， mentions George Benson。 。。。more

Reference

google book https://www.google.com/search?tbm=bks&q=Religion and the Rise of Capitalism

hathitrust digital library https://babel.hathitrust.org/cgi/ls?q1=Religion and the Rise of Capitalism&field1=ocr&a=srchls&ft=ft&lmt=ft

The British Library https://bll01.primo.exlibrisgroup.com/discovery/search?query=any,contains,Religion and the Rise of Capitalism&tab=LibraryCatalog&search_scope=Not_BL_Suppress&vid=44BL_INST:BLL01&lang=en&offset=0