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Economics as Religion
From Samuelson to Chicago and Beyond
408 pages | 6 x 9 | 2001
Cloth edition is not available
ISBN 978-0-271-02284-0 | paper: $31.95 tr
“Nelson does not regard 'theology’ as a cuss word, and so his detailed study of the theology underlying Samuelsonian and Chicagoan economics is not a put-down. It’s a way of seeing the rhetoric of fundamental belief—what has been called vision. Nelson . . . speaks with authority from within the field. . . . His grasp of modern economics is broad and firm. And so in theology, too. It’s an important, even an amazing book: Luther meets Smith.” —Deirdre McCloskey, University of Illinois at Chicago
“As a history of modern neoclassical economic theory, [Nelson’s book] is exemplary. An exceedingly well-written book.” —Journal of Economic Issues
“In his groundbreaking study, Robert Nelson explores the genesis, the prophets, the prophesies, and the tenets of what he sees as a . . . religion of economics that has come into full blossom in latter-day America.” —America- The National Catholic Weekly
“Market economics is best understood as a religion. When I first read this claim in a book by Robert Nelson . . . I had doubts. . . . [But] the more one thinks about the function of market economics in modern society, the stronger the case gets for treating it as a religion.” —Financial Times
“Nelson provides a huge service to students of religion in his attempts to place economics . . . in conversation with theology.” —Christian Century
“That said, this book engages a vital subject that warrants interdisciplinary engagement. Its accessible language is just what the academy needs to promote dialogue between economists and theologians and, more broadly, between the social sciences and the humanities.” —David P. Schmidt, Journal of Religion
“Nelson has wide experience applying economics to public policy.” —Science and Theology News
“My reservations notwithstanding, this is a very good book, and Nelson has touched on an important issue highly relevant for public policy.” —David Colander, History of Political Economy
“Mixing intellectual history, theology, and a sophisticated yet readable account of the primary doctrines of twentieth-century economics, Nelson’s book both illuminates economics’ immediate past and draws attention to the problems of the future.
Nelson’s survey of 20th-century economic thought is thorough and surprisingly readable; he has always been a good writer, and he has outdone himself here.
Economics as Religion is a major work—one that everyone concerned with economics (and everyone ought to be concerned with economics, in my opinion) should read. It prompts the reader to reconsider the intellectual legacy of the discipline, to rethink the roles of economists in public debate, and to ponder the rising challenges to the religion of progress.
” —Andrew P. Morriss, Books and Culture: A Christian Review
“Deeply enriching and fascinating book.” —Adrienne Clarkson, Governor General of Canada
“Economics As Religion is an exceptional book. People should buy it, read it, and assign it in class. It will change the way in which we view economics, and it might change how economists think about their world.” —Jennifer Roback Morse, Markets and Morality
“Economics as Religion is a well-written book, one rich in ideas. It would appeal to many economists, especially those with interests in the history of economic thought, methodology, and religion. It also would appeal to students of the role of religion in public life. Now, about the title. . .” —Gregory A . Krohn, Faith and Economics
“Nelson’s book is a challenge to economists to see their field anew.” —Eileen Ciesla, Warren Brooks Fellow at Competitive Enterprise Institute
“He [Nelson] provides a huge service to students of religion in his attempts to place economics…. viewed by many as a highly technical field far beyond the conceptual grasp of non-economists in conversation with theology.” —Christian Century
“Nelson argues that [economists] are really theologians, though mostly unaware of that fact, in his thoughtful and challenging new book.
Nelson makes a strong case that economics cannot be a purely positive science.” —Claremont Review of Books
“Paul Samuelson has been called many things in his long career, but never before to my knowledge a theologian. But according to Robert Nelson in his excellent book, modern economics is bound inextricably with religion; and he takes Samuelson, the most influential economist of the years after World War II, as a prime example of his thesis.” —Mises Review
“His thesis is new and novel: he has written a strong brief for it, and to say the least, he has interesting ideas.” —Robert D. Tollison, H-Net Book Reviews
“An exceedingly well-written book. [Nelson’s] style is both clear and graceful. . . . an exceptional production. This is a handsome, well-crafted book. At $35, it’s a real bargain.” —John F. Henry, Journal of Economic Issues
“In his groundbreaking study, Robert Nelson explores the genesis, the prophets, the prophecies and the tenets of what he sees as a perfervid secular theology and religion of economics that has come into full blossom in latter-day America.” —John Omicinski, America- The National Catholic Weekly
“This engaging book should be of considerable value to scholars in the social sciences and humanities, to public policy makers, and to informed general readers.” —A.R. Sanderson, Choice
“Economists are not objective technocrats, applying a value-free science, and in developing this argument Mr. Nelson makes an important contribution.” —Doug Bandow, Washington Times
“Market economics is best understood as a religion. When I first read this claim in a book by Robert Nelson …, I had doubts. … [But] the more one thinks about the function of market economics in modern society, the stronger the case gets for treating it as a religion.” —Michael Prowse, Financial Times (London)
“Economics as Religion is an excellent book. [Its] purpose is to show how the arguments of economists legitimate social and economic arrangements by providing these arrangements with quasi-religious justification. Economists are thus doing theology while for the most part unaware of that fact. It provides a remarkably balanced and comprehensive history of the way that economics developed in the twentieth century. The book will undoubtedly be welcomed by … [a] considerable number of theologians. Professional economists will find [it] will broaden their understanding of what economists have been doing in recent decades. Political scientists or philosophers can…clarify their understandings of social science and especially economics. And I think it will find a fair number of readers in the general population.” —Paul Heyne, University of Washington
“Nelson does not regard ‘theology’ as a cuss word, and so his detailed study of the theology underlying Samuelsonian and Chicagoan economics is not a putdown. It’s a way of seeing the rhetoric of fundamental belief—what has been called vision. Nelson…speaks with authority from within the field…. . His grasp of modern economics is broad and firm. And so in theology, too. It’s an important, even an amazing book: Luther meets Smith.” —
In this study, Robert H. Nelson explores the genesis, the prophets, the prophesies, and the tenets of what he sees as a religion of economics that has come into full blossom in latter-day America. Nelson does not see "theology" as a bad word, and his examination of the theology underlying Samuelsonian and Chicagoan economics is not a put-down. It is a way of seeing the rhetoric of fundamental belief - what has been called "vision".
Robert H. Nelson has had wide government experience in the application of economics to public policy and is Professor in the School of Public Affairs at the University of Maryland. He is the author of Reaching for Heaven on Earth: The Theological Meaning of Economics (1991).