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.
From the author of Day of Reckoning, the acclaimed critique of Ronald Reagan’s economic policy (“Every citizen should read it,” said The New York Times): a persuasive, wide-ranging argument that economic growth provides far more than material benefits. In clear-cut prose, Benjamin M. Friedman examines the political and social histories of the large Western democracies–particularly of the United States since the Civil War–to demonstrate the fact that incomes on the rise lead to more open and democratic societies. He explains that growth, rather than simply a high standard of living, is key to effecting political and social liberalization in the third world, and shows that even the wealthiest of nations puts its democratic values at risk when income levels stand still. Merely being rich is no protection against a turn toward rigidity and intolerance when a country’s citizens lose the sense that they are getting ahead. With concrete policy suggestions for pursuing growth at home and promoting worldwide economic expansion, this volume is a major contribution to the ongoing debate about the effects of economic growth and globalization.
How religious thinking was—and remains—a central influence shaping economics. The conventional view of economics is that the field was a product of the Enlightenment and, therefore, bore no relation to religious ideas. But is this true? In Religious Influences on Economic Thinking, Benjamin Friedman shows that religious thinking was, in fact, a powerful force in shaping the initial development of modern Western economics and that it has remained an influence on economic thinking ever since. Friedman argues that an important influence enabling the insights of Adam Smith and his contemporaries was the new and highly controversial line of religious thinking at that time in the English-speaking Protestant world. Friedman explains that the influence of religious thinking on modern economic thought at the field’s inception established resonances that have persisted through the subsequent centuries, even as the economic context has evolved and the questions economists ask have shifted along with it. Because we are largely not conscious of these influences, neither in the past nor as they are at work today, we are sometimes puzzled when we stumble across evidence of them—for example, in the otherwise hard-to-explain attitudes that many of our fellow citizens express on issues like estate taxes, business regulation, and environmental restrictions. But they are still at work. Understanding them can only enhance the economics profession’s capacity to contribute to our ongoing public discussion of the important questions on which the discipline so usefully bears.
Terrorizing Ourselves dismantles much of the flawed thinking that dominates U.S. counterterrorism policy today and lays out alternative approaches informed by experience, deliberation, and the well-established norms of a free society. Leading experts in the field contributed to this important new book, which shows that politicians use fear for political purposes and spend vast sums of money on dubious security measures. These experts explore the nature of modern terrorism, explain and decry our panicked responses to it, and offer sober alternatives. Beyond specific proposals for disrupting terror cells and improving homeland security efforts, Terrorizing Ourselves documents the many ways in which a climate of fear-mongering exacerbates the threat of terrorism. Terrorists, the authors note, get their name for a reason. Fear is their chief tactic. Political forces push U.S. policymakers to hype this fear, encouraging Americans to believe that terrorists are global super villains who can wreck American society unless we submit to their demands. This book shows that policies based on this fantasy are self-defeating and bring needless war, wasted wealth, and less freedom. The authors explore strategies to undermine support for these policies. They also sketch an alternative counterterrorism and homeland security strategy—one that makes us safer and plays to Americans’ confidence rather than our fears.
U.S. security does not require nearly 1,600 nuclear weapons deployed on a triad of systems—bombers, land-based intercontinental ballistic missiles (ICBMs), and submarine-launched ballistic missiles (SLBMs)—to deliver them. A new paper from Benjamin H. Friedman, Christopher A. Preble and Matt Fay encourages abandonment of the triad and skepticism about the received wisdom justifying U.S. nuclear weapons’ policies. The authors suggest that shifting to a submarine-based monad would serve U.S. deterrent needs and eventually save taxpayers roughly $20 billion a year.
Theories of Democracy builds on Robert Dahl's observation that there is no single theory of democracy; only theories. Beyond the broad commitment to rule by the majority, democracy involves a set of contentious debates concerning the proper function and scope of power, equality, freedom, justice, and interests. In this anthology, Ronald J. Terchek and Thomas C. Conte have brilliantly assembled the works of classical, modern, and contemporary commentators to illustrate the deep and diverse roots of the democratic ideal, as well as to provide materials for thinking about the way some contemporary theories build on different traditions of democratic theorizing. The arguments addressed in Theories of Democracy appear in the voices of authors who have championed influential theories concerning the opportunities and dangers associated with democratic politics. In this collection, Terchek and Conte have selected excerpts not as a means for promoting a particular way of looking at democracy, but rather they have wisely chosen works that will enable students to carry on an informed discourse on the meaning and purposes of democratic principles and practices. Theories of Democracy is a must for every student of democracy's past, present, and future.
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