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Longlisted for the Financial Times and Schroders Business Book of the Year AwardA novel economic interpretation of how religions have become so powerful in the modern worldReligion in the twenty-first century is alive and well across the world, despite its apparent decline in North America and parts of Europe. Vigorous competition between and within religious movements has led to their accumulating great power and wealth. Religions in many traditions have honed their competitive strategies over thousands of years. Today, they are big business; like businesses, they must recruit, raise funds, disburse budgets, manage facilities, organize transportation, motivate employees, and get their message out. In The Divine Economy, economist Paul Seabright argues that religious movements are a special kind of business: they are platforms, bringing together communities of members who seek many different things from one another—spiritual fulfilment, friendship and marriage networks, even business opportunities. Their function as platforms, he contends, is what has allowed religions to consolidate and wield power.This power can be used for good, especially when religious movements provide their members with insurance against the shocks of modern life, and a sense of worth in their communities. It can also be used for harm: political leaders often instrumentalize religious movements for authoritarian ends, and religious leaders can exploit the trust of members to inflict sexual, emotional, financial or physical abuse, or to provoke violence against outsiders. Writing in a nonpartisan spirit, Seabright uses insights from economics to show how religion and secular society can work together in a world where some people feel no need for religion, but many continue to respond with enthusiasm to its call.

Why is religion so widespread? Why do individuals donate large amounts of time, money, and effort to religious groups? What forms does the religious competition take? Why are individuals more religious in some countries than others? What is the future of religion?This book provides a non-technical introduction to how the economic approach answers these and other questions about religion. It defines the economic approach to religion and demonstrates how it is used to study a variety of religious decisions. It explains how religious groups confront credibility, free-rider, and coordination problems that challenge the collective production of religious goods and services. It also examines competition and regulation in religious markets around the world, how religious beliefs and preferences are transmitted and sustained, how religion likely emerged in humankind's distant past, and what the future of religion may hold. The book thus demonstrates how the tools and methods of economics provide fresh insight into a variety of religious behaviors.This book is intended for a wide audience in and out of economics. Though not a textbook per se, its discussion questions and suggested readings at the end of each chapter allow for easy incorporation into the classroom. The mathematics and statistics used by researchers are generally avoided. Both theory and evidence are presented, but the focus is on the ideas that provide a coherent conceptual framework that grounds a deeper exploration of the theoretical and empirical research in the economics of religion.

Adam Smith, one of the founding fathers of contemporary economics, observed that religiosity is influenced by the extent of regulation in the'market'for religion. In countries where there is a state-sponsored religion, one can expect less overall religiosity than if the market were competitive and religions had to compete to increase their membership. Religion, he claims, is like other goods and services supplied in a market economy.Max Weber, one of the founding fathers of contemporary sociology, similarly proposed that religiosity and economic principles are strongly interconnected phenomena. Weber famously thought that Protestant religious beliefs about the importance of work, savings and trustworthiness played an important role in sparking the Industrial Revolution and accelerating economic growth in the Western World.This edited volume contains original contributions by eminent scholars in the new and emerging field of the economics of religion. The contributions expand upon the ground-breaking ideas of Adam Smith and Max Weber. The chapters also illuminate new directions for research in this relatively young, intellectually exciting, and rapidly growing multidisciplinary field of scientific inquiry.

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 an until-now unrecognized force—religion.'Friedman has given us 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 belief in free markets—among economists as well as many ordinary citizens—is a form of religion. And, it turns out, that in a deeper, more historically grounded sense there is something to that idea. Contrary to the conventional historical view of economics as an entirely secular product of the Enlightenment, Benjamin M. Friedman demonstrates that religion exerted a powerful influence from the outset. Friedman makes clear how the foundational transition in thinking about what we now call economics, beginning in the eighteenth century, was decisively shaped by the hotly contended lines of religious thought within the English-speaking Protestant world. Beliefs about God-given human character, about the after-life, and about the purpose of our existence, were all under scrutiny in the world in which Adam Smith and his contemporaries lived. Friedman explores how those debates go far in explaining the puzzling behavior of so many of our fellow citizens whose views about economic policies—and whose voting behavior—seems sharply at odds with what would be to their own economic benefit. Illuminating the origins of the relationship between religious thinking and economic thinking, together with its ongoing consequences, Friedman provides invaluable insights into our current economic policy debates and demonstrates ways to shape more functional policies for all citizens.

In Pilgrimage and Economy in the Ancient Mediterranean, Anna Collar and Troels Myrup Kristensen bring together diverse scholarship to explore the socioeconomic dynamics of ancient Mediterranean pilgrimage from archaic Greece to Late Antiquity, the Greek mainland to Egypt and the Near East. This broad chronological and geographical canvas demonstrates how our modern concepts of religion and economy were entangled in the ancient world. By taking material culture as a starting point, the volume examines the ways that landscapes, architecture, and objects shaped the pilgrim's experiences, and the manifold ways in which economy, belief and ritual behaviour intertwined, specifically through the processes and practices that were part of ancient Mediterranean pilgrimage over the course of more than 1,500 years.

This Handbook introduces and systematically explores the thesis that the economy, economic practices and economic thought are of a profoundly theological nature. Containing more than 40 chapters, this Handbook provides a state-of-the-art reference work that offers students, researchers and policymakers an introduction to current scholarship, significant debates and emerging research themes in the study of the theological significance of economic concepts and the religious underpinnings of economic practices in a world that is increasingly dominated by financiers, managers, forecasters, market-makers and entrepreneurs.This Handbook brings together scholars from different parts of the world, representing various disciplines and intellectual traditions. It covers the development of economic thought and practices from antiquity to neoliberalism, and it provides insight into the economic–theological teachings of major religious movements. The list of contributors combines well-established scholars and younger academic talents.The chapters in this Handbook cover a wide array of conceptual, historical, theoretical and methodological issues and perspectives, such as the economic meaning of theological concepts (e.g. providence and faith); the theological underpinnings of economic concepts (e.g. credit and property); the religious significance of socio-economic practices in various organizational fields (e.g. accounting and work); and finally the genealogy of the theological–economic interface in Judaism, Christianity, Islam and in the discipline of economics itself (e.g. Marx, Keynes and Hayek).The Routledge Handbook of Economic Theology is organized in four parts:• Theological concepts and their economic meaning• Economic concepts and their theological anchoring• Society, management and organization• Genealogy of economic theology

This book examines, in greater depth than the existing literature, the history of Islamic economic thought. It seeks to introduce Islamic views to debates surrounding critical economic concepts, such as scarcity, wealth, poverty, charity, usury, self-interest, rationality, and markets. It does so through a comparative analysis with the views of Judaic, Christian, and secular economic thought. “Prophecy” is meant to signify the theoretical dimension of religion, while “piety” represents its practical element; neither part is feasible without the other. Together, prophecy and piety inform the Islamic view of economic concepts and phenomena. This view seeks to adjust our approach to profits, both in this world and the next, and seeks to reexamine what is truly profitable and worthy of sacrifice.

Is America a Christian Nation? According to author T. Carlos Andersen, the true religion of the land is the confluence of commerce, materialism, and consumerism. Andersen, defining religion as'ultimate concern,'claims our true devotion is found in material pursuits. It's been a good religion; it has fed, clothed, sheltered, and employed millions of Americans. It can go too far, however. When these pursuits become excessive, the religion breaks bad and the common good suffers.

Is America a Christian Nation? According to author T. Carlos Andersen, the true religion of the land is the confluence of commerce, materialism, and consumerism. Andersen, defining religion as'ultimate concern,'claims our true devotion is found in material pursuits. It's been a good religion; it has fed, clothed, sheltered, and employed millions of Americans. It can go too far, however. When these pursuits become excessive, the religion breaks bad and the common good suffers.