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This book carves the beginnings of a new path in the arguably weary discipline of economics. It combines a variety of perspectives – from the history of ideas to epistemology – in order to try to understand what has gone so wrong with economics and articulate a coherent way forward. This is undertaken through a dual path of deconstruction and reconstruction. Mainstream economics is broken down into many of its key component parts and the history of each of these parts is scrutinized closely. When the flaws are thoroughly understood the author then begins the task of reconstruction. What emerges is not a ‘Grand Unified Theory of Everything’, but rather a provisional map outlining a new terrain for economists to explore. The Reformation in Economics is written in a lively and engaging style that aims less at the formalization of dogma and more at the exploration of ideas. This truly groundbreaking work invites readers to rethink their current understanding of economics as a discipline and is particularly relevant for those interested in economic pluralism and alternative economics.
Written from the Haavelmo-Cowles Commission econometric perspective, this book provides an account of the advances in the field of econometrics since the 1970s.
Victor Claar and Robin Klay introduce students to the basic principles of economics and then evaluate the principles and issues as seen from a Christian perspective. This textbook places the economic life in the context of Christian discipleship and stewardship. This text is for use in any course needing a survey of the principles of economics.
This book seeks to explain the political and religious factors leading to the economic reversal of fortunes between Europe and the Middle East.
Economics can help us understand the evolution and development of religion, from the market penetration of the Reformation to an exploration of today's hot-button issues including evolution and gay marriage. This startlingly original (and sure to be controversial) account of the evolution of Christianity shows that the economics of religion has little to do with counting the money in the collection basket and much to do with understanding the background of today's religious and political divisions. Since religion is a set of organized beliefs, and a church is an organized body of worshippers, it's natural to use a science that seeks to explain the behavior of organizations—economics—to understand the development of organized religion. The Marketplace of Christianity applies the tools of economic theory to illuminate the emergence of Protestantism in the sixteenth century and to examine contemporary religion-influenced issues, including evolution and gay marriage. The Protestant Reformation, the authors argue, can be seen as a successful penetration of a religious market dominated by a monopoly firm—the Catholic Church. The Ninety-five Theses nailed to the church door in Wittenberg by Martin Luther raised the level of competition within Christianity to a breaking point. The Counter-Reformation, the Catholic reaction, continued the competitive process, which came to include "product differentiation" in the form of doctrinal and organizational innovation. Economic theory shows us how Christianity evolved to satisfy the changing demands of consumers—worshippers. The authors of The Marketplace of Christianity avoid value judgments about religion. They take preferences for religion as given and analyze its observable effects on society and the individual. They provide the reader with clear and nontechnical background information on economics and the economics of religion before focusing on the Reformation and its aftermath. Their analysis of contemporary hot-button issues—science vs. religion, liberal vs. conservative, clerical celibacy, women and gay clergy, gay marriage—offers a vivid illustration of the potential of economic analysis to contribute to our understanding of religion.
Even though the Great Recession officially ended more than two years ago, in 2009, most developed economies are still suffering from near double-digits unemployment. Millions of people in the U.S. and Europe have lost their houses and their jobs. Who is blame for such a tragedy? As John Skidelsky, Keynes's biographer, puts it, it is not the bankers, the credit-rating agencies, the central bankers, the regulators, or government, to be blamed, but a failure of ideas: "the present crisis is, to a large extent, the fruits of the intellectual failure of the economic profession." They are quite right. All the suffering and lives ruined by the present and past crises have been caused by erroneous economic ideas. It was erroneous beliefs that prompted our political leaders to enact all the policies that pushed our federal government into a dangerous level of fiscal deficit and fiscal debt. Erroneous ideas compelled government to get deeper into debt in order to bail out Wall Street and the big banks, while failing to help homeowners facing foreclosure.. Erroneous beliefs are preventing the government from enacting necessary measures to help the economy recover. Erroneous economic beliefs are responsible for the increase in the poverty rate and the decline of the middle class. In fact, behind any social and economic problem you can think of, there is a plethora of erroneous beliefs inflicted on us by the supposed experts on the matter, the professional economists. The only way to really solve the serious problems affecting the U.S. and the world today is nothing short of a complete reformation of the economic discipline. That is the purpose of the 100 theses presented here. You may not agree with some of these theses but, at the very least, your assumptions will be challenged. You can be assured that your view of the economy, indeed of the world, will never be the same after you have read the 100 theses."
How religious beliefs and practices can influence the wealth of nations Which countries grow faster economically—those with strong beliefs in heaven and hell or those with weak beliefs in them? Does religious participation matter? Why do some countries experience secularization while others are religiously vibrant? In The Wealth of Religions, Rachel McCleary and Robert Barro draw on their long record of pioneering research to examine these and many other aspects of the economics of religion. Places with firm beliefs in heaven and hell measured relative to the time spent in religious activities tend to be more productive and experience faster growth. Going further, there are two directions of causation: religiosity influences economic performance and economic development affects religiosity. Dimensions of economic development—such as urbanization, education, health, and fertility—matter too, interacting differently with religiosity. State regulation and subsidization of religion also play a role. The Wealth of Religions addresses the effects of religious beliefs on character traits such as work ethic, thrift, and honesty; the Protestant Reformation and its long-term effects on education and religious competition; Communism’s suppression of and competition with religion; the effects of Islamic laws and regulations on the functioning of markets and, hence, on the long-term development of Muslim countries; why some countries have state religions; analogies between religious groups and terrorist organizations; the violent origins of the Dalai Lama’s brand of Tibetan Buddhism; and the use by the Catholic Church of saint-making as a way to compete against the rise of Protestant Evangelicals. Timely and incisive, The Wealth of Religions provides fresh insights into the vital interplay between religion, markets, and economic development.