Political Cynic takes the measure of Mises/Hayek/Friedman’s successor?
I’ve been a reader of The Economist from the early 1990’s and on and off since then. The stogey old white men, represented by those once stalwarts Adrian Wooldridge and John Micklethwait, Oxbridgers both, and their best sellers like The Right Nation: Conservative Power in America compendiums of their various essay subjected to studious re-writes. When the comments section was closed, that was marked my canceling of my subscription, though I later returned. Beddoes was not a member of that club, so that high-flown rhetoric must patiently wait for paragraphs like these? In this essay Amazon is the arbiter of Popular Taste, with Mr Seabright’s off and on appearances, aided by some ‘Big Names’. This is propaganda!
God gets mixed reviews on Amazon. This is perhaps surprising. His marketing campaign (now in its third millennium) has been strong. His slogans (“God is Great!”) are positive. And indeed many shoppers effuse. “Wonderful!” reads one five-star review beneath His best-known work, the Bible. “Beautiful,” says another. “Amen,” adds another satisfied customer.
Other reviewers are critical. One, after giving the Bible just a single star, observes bluntly, if rather blasphemously, that it is a “boring read”. Another review complains: “the plot is not cohesive”. A third disgruntled reader argues that there are “Too many characters” and that the main protagonist is a bit full of himself.
The patient reader need just wait as Mr Seabright describes himself:
…
My research lies in the areas of microeonomic theory, industrial and competition policy, intellectual property and the digital society, development economics, economics and human evolution, the economics of gender, the economics of religion. A common theme to these apparently chaotically diverse topics is the foundations of human cooperation and social trust: I examine the way in which our prehistorically evolved psychology interacts with modern institutions to make social cooperation possible.
…
My new book The Divine Economy: How Religions Compete for Wealth, Power and People, published by Princeton University Press in May 2024, brings together my interests in industrial economics (specifically the economics of platforms) and my fascination for behavioural and evolutionary economics. Two earlier books published by PUP, The Company of Strangers: A Natural History of Economic Life (2010) and The War of the Sexes: How Conflict and Cooperation Have Shaped Men and Women from Prehistory to the Present (2012) also explored the confrontation of a psychology shaped by evolution with modern social and economic institutions.
…
The Reader might just wonder, indeed ponder the reach of ‘Economic Science’, in the thought of Mr Seabright! He seems to bypass the Neo-Liberal Chatter of that Toxic Trio of Mises/Hayek/Friedman!
The Reader might wonder at what Economist might offer the The Believer, The Atheist , and or the completely disinterested?
If it feels surprising that God is reviewed on Amazon, it should not. God may have made heaven and earth, but he also makes an awful lot of money, as Paul Seabright, a British economist and professor at the University of Toulouse in France, points out in a new book.
The utter boredom of God Talk: The Economist.
…
Secularists may smirk at religion as silly, but it deserves proper analysis. “The Divine Economy” looks at how religions attract followers, money and power and argues that they are businesses—and should be analysed as such. Professor Seabright calls religions “platforms”, businesses that “facilitate relationships”. (Other economists refer to religions as “clubs” or “glue”.) He then takes a quick canter through the history, sociology and economics of religions to illustrate this. The best parts of this book deal with economics, which the general reader will find enlightening.
Economists were slow to study religion. Some 250 years ago Adam Smith observed in “The Wealth of Nations” that the wealth of churches was considerable. He used secular language to describe how such wealth arose, observing that churches’ “revenue” (donations) flowed in and benefited priests, who he argued were sometimes animated less by love of God than by “the powerful motive of self-interest”. He also argued that if there were a better functioning market in religious providers, this would lead to increased religious harmony. According to Laurence Iannaccone, a professor of economics at Chapman University in California, Smith’s analysis was “brilliant”—and for a long time largely ignored.
…
The Religious Hucksters, what ever their guise, trade in Sacred Texts like the Bible, the Koran, The Talmud. Mr. Sebright uses Economics as the ‘Key’ . It’s like the etiolated Neo-Liberal Trinity of Hayek/Mises/Friedman in a new key! Economics is the central driver in human existence: The Wisdom of the Market is the singular imperative of human striving?
Some selective quotation: The Economist: Two descriptors apply: ‘Potted History’ or ‘History Made To Measure’!
Divinity departments are staffed by theologians rather than economists; the idea of mixing the dismal science with the divine strikes many people at the very least “as odd and at worst strikes them as blasphemous”, says Mr Iannaccone. People associate God with angels, not with Excel.
Yet religions lend themselves to economic analysis nicely. They offer a product (such as salvation); have networks of providers (priests, imams and so on) and benefit from good distribution networks. It is not just trade that travels on trade routes: ideas, diseases and religions do, too. Roman roads allowed the plague of Justinian to spread across Europe with a rapidity never seen before. They also allowed Christianity to.
Starting in the 1970s, some economists have been approaching religion with more academic devotion, analysing, for example, the economics of extremism and obtaining a place in the afterlife. This mode of thinking can help to clarify complicated religious history. When historians talk about the Reformation they tend to do so using thorny theological terms such as “transubstantiation”. Economists would describe it more simply as the moment when a monopoly provider (the Catholic church) was broken up, leading to an increase in consumer choice (Protestantism) and the price of services declining (indulgences were out).
A greater variety of suppliers started to offer road-maps to heaven. Henry VIII swapped his old service provider, Catholicism, for the new one—which was not only cheaper, but also allowed him to divorce a troublesome wife. There were, admittedly, some bumps: the pope was not pleased, and the habit of burning picky customers at the stake dented consumer confidence. But overall, the Reformation enabled people and their rulers to “get a better bargain”, says Davide Cantoni, a professor at Ludwig Maximilian University of Munich.
Seabright returns briefly, then some Brand Names, Nations, then it becomes a muddle of Economist chatter!
(Christianity and Islam), Walmart, Lidl and Tesco, the Catholic church, like McDonald’s, Vatican or Venezuela, Baal , the Bible, Tom Lehrer, Catholics, The Vatican Rag, “The Divine Economy”, ‘ a rational Bayesian framework, God, as Friedrich Nietzsche stated, Jordan Peterson, a Canadian academic.
The final salvo: The Economist
God might wish he were dead when He hears such things. He is not.
( Call this the profession of Faith of ‘The Economist’?)
Political Cynic