Economics As Religion: From Samuelson to Chicago and Beyond

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Interesting overall but major errors occur whenever Adam Smith is discussed

A Midwestern Progressive's view from Japan

Economics as religion

Is Economics a Religion?

Understanding Economics

Economics As Religion: From Samuelson to Chicago and Beyond
Robert H. Nelson
Manufacturer: Pennsylvania State University Press
ProductGroup: Book
Binding: Paperback

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ASIN: 0271022841

Book Description

An insightful exploration of the powerful role that economic belief plays in our modern society as a secular religion that serves many of the same functions as early Christian and other religions did in their time.

Customer Reviews:

Interesting overall but major errors occur whenever Adam Smith is discussed.......2005-06-28

This book is certainly worth buying .It is well written.It is probably true that,to some extent,Samuelson saw Keynesian ecomomics as a religious type gospel of reform.Undoubtedly,the Chicago school's libertarian atheism (of Milton Friedman and others)can be regarded as a type of religion.It is certainly true that Adam Smith's work has been so badly misinterpreted by practically all economists,including Nelson,that one could be convinced that Smith's Invisible Hand is based on some type of mysterious ,near religious belief.Nothing could be further from the truth.

Nelson totally misstates Adam Smith's position again and again and again throughout this book.There is not a single page in this book that, even remotely,provides the reader with a firm foundation about what Smith's system of classical liberty really entailed.Nelson's assessments of Smith's system are about as accurate as the entirely false claim that John Maynard Keynes was an advocate of deficit finance(Keynes was a stauch opponent of deficit finance throughout his life.It is simply false to state that Keynes favored deficit finannce).Nelson claims the following:" As Adam Smith now interpreted the natural laws of economics,governments that sought to interfere with the individual pursuit of self interest in the market were acting contrary to the devine plan.The results were only likely to cause wide social disruption and distress-just as would any government action that in the physical order might be foolishly taken in attempted defiance of the law of gravity".(Nelson,p.287 :see also,for example,pp.44,84,89,191,etc.).Nelson,Samuelson, Friedman,and the rest of the economics profession have it all wrong and upside down.Smith certainly recognized that the Invisible Hand process of the division of labor and labor specialization created great wealth and economic growth.However,he also clearly recognized that it simultaneously generated massive undepletable ,detrimental externalities impacting the entire work force that only government actions could reduce,mitigate,or minimize.This is all clearly stated on pp.734-741 of the Modern Library (Cannan)edition of the Wealth of Nations.Nelson's book is intellectually unsatisfactory in its present state.The Invisible Hand has absolutely nothing to do with God,Divine Providence,or religion at all.It is a purely human economic-social process that leads to positive changes over time in a society because both the individual and society(all other individuals) benefit from the additional expertise and training as new specializations are created over time . Unfortunately,this process also has a dark side that Smith recognizes can only be effectively dealt with by government action.Period.Nelson needs to read what Smith actually said and initiate substantial CHANGES IN HIS NEXT EDITION.

A Midwestern Progressive's view from Japan.......2003-11-01

This is a brilliant intellectual history of late 20th century American economics which puts it in both American and European historic context. It is both erudite and immensely practical in helping one to see the limitations in recommendations of economists more clearly.
As a former international banker (and a mathematician by training) who has lived both in Europe and the Far East, the practical limits and occasional parochialism of American mainstream economics have long been clear, but except for George Stiglitz' "Globalization and Its Discontents", I can't think of any book that does a better job of explaining just what is wrong and why. Read them together and be prepared to think hard about the difference beween what we really "know" about (international) economic behavior and what we merely believe.

Economics as religion.......2003-04-24

This is a remarkable book... erudite, opinionated, original, and addressing a crucially important subject matter. Prof. Nelson covers a wide swath of recent economic thinking (that survey alone makes the book worthwhile), and contends that while economics wears the cloak of authority of science, it can more accurately be viewed as a secular religion. I had read one of his 1980s articles, and picked up the book on that basis - and became thoroughly engaged. If one measures success in terms of underlined sections, exclamation points and scribbled notes in the margins, then this one more than passes. I'm not an economist (or a theologian), but nonetheless found this to be a tremendously interesting read. I wanted more, and hope that his next book follows up on his closing point, about the cutting edge role of libertarians and environmentalists.

Is Economics a Religion?.......2003-03-09

Prof. Robert Nelson argues that economics has become the modern religion, complete with a priesthood (economists), a sacred text (Samuelson's "Economics") and a plan of salvation, (material progress will solve the problem of mankind, including the problem of sin.) Over the top, you say? He makes a great case. Read this book and find out for yourself.
I am a professional economist myself. Nelson's arguments ring true in my experience in the profession. He argues that many of the controversies over economic policy are really controversies over views of the world. These world views are so fundamental, and deeply held, that they are unlikely to be dislodged by technique and data, no matter how rigorous. Nelson thinks we would have more fruitful policy discussions if we would quit pretending to be scientists, and face up to these fundamental questions. I have to agree with him.
I wish he had pointed out that economics is not doing a very good job being a religion. Material progress can not solve all the problems of the human race. We would all be better off, if we would admit that.

Understanding Economics.......2001-11-16

Ever wonder how the field of economics could produce such disparate voices, from interventionists such as John Maynard Keynes to the classical liberalism of Milton Friedman? Those looking for insights will do well to read Economics as Religion: From Samuelson to Chicago and Beyond by Robert H. Nelson, an economist at the University of Maryland.

As the book's subtitle suggests, Nelson takes the reader on tour of modern economic thought. Here he's done commendable job, providing a highly readable account of the major personalities. This book will appeal to historians as well as the informed non-specialist. Nelson ranges far and wide in his effort to explore the often unstated philosophical assumptions behind supposedly objective economic analysis. Of particular interest is Nelson's treatment of the rift between economists and environmentalists. He places the debate squarely (and rightly in my opinion) in religious terms. While this is not particularly original, he does a service by reinforcing the deep religious roots of modern American environmentalism.

Finally, in an increasingly small world, Nelson again hammers home a vital point regarding economic opportunity provided by free markets: Economic progress requires the creation of a "civil society" and the rule of law. Social and human capital must be both nurtured and sustained. Laws must reflect these norms and governments must enforce them fairly. Without these, human rights and the environment suffer.

In environments of rampant corruption and political instability, value creating institutions aren't sustained. Success comes when people are rewarded for creating value, not for transferring wealth via force or fraud. Political plunderers, not the market process, keeps countries poor.

This is a desperately important message at a time when many equivocate and ring their hands about the spread of Western democracy as, "a hegemonic discourse of Western cultural imperialism".

Pete Geddes is Program Director of the Foundation for Research on Economics and the Environment (FREE) and Gallatin Writers. Both are based in Bozeman, Montana.

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Economics As Religion: From Samuelson to Chicago and Beyond
Robert H. Nelson
Manufacturer: Pennsylvania State University Press
ProductGroup: Book
Binding: Paperback
ASIN: B000OR714C

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Block that metaphor!('Economics as Religion: From Samuelson to Chicago and Beyond')(Book Review): An article from: First Things: A Monthly Journal of Religion and Public Life
Robert A. Sirico
Manufacturer: Institute on Religion and Public Life
ProductGroup: Book
Binding: Digital

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ASIN: B0008FVR7C
Release Date: 2005-07-30

Book Description

This digital document is an article from First Things: A Monthly Journal of Religion and Public Life, published by Institute on Religion and Public Life on December 1, 2002. The length of the article is 996 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Block that metaphor!('Economics as Religion: From Samuelson to Chicago and Beyond')(Book Review)
Author: Robert A. Sirico
Publication: First Things: A Monthly Journal of Religion and Public Life (Refereed)
Date: December 1, 2002
Publisher: Institute on Religion and Public Life
Page: 51(4)

Article Type: Book Review

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Economics as Religion: From Samuelson to Chicago and Beyond. (Book Reviews). (book review): An article from: Journal of Economic Issues

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Economics as Religion: From Samuelson to Chicago and Beyond. (Book Reviews). (book review): An article from: Journal of Economic Issues
John F. Henry
Manufacturer: Association for Evolutionary Economics
ProductGroup: Book
Binding: Digital

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This digital document is an article from Journal of Economic Issues, published by Association for Evolutionary Economics on March 1, 2002. The length of the article is 1202 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Economics as Religion: From Samuelson to Chicago and Beyond. (Book Reviews). (book review)
Author: John F. Henry
Publication: Journal of Economic Issues (Refereed)
Date: March 1, 2002
Publisher: Association for Evolutionary Economics
Volume: 36 Issue: 1 Page: 225(3)

Article Type: Book Review

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Economics as Religion: from Samuelson to Chicago and Beyond. (Recommended Reading).: An article from: Real Estate Issues

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Economics as Religion: from Samuelson to Chicago and Beyond. (Recommended Reading).: An article from: Real Estate Issues
Buzz McCoy
Manufacturer: The Counselors of Real Estate
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Binding: Digital

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This digital document is an article from Real Estate Issues, published by The Counselors of Real Estate on January 1, 2003. The length of the article is 1018 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Economics as Religion: from Samuelson to Chicago and Beyond. (Recommended Reading).
Author: Buzz McCoy
Publication: Real Estate Issues (Refereed)
Date: January 1, 2003
Publisher: The Counselors of Real Estate
Volume: 28 Issue: 1 Page: 49(2)

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Economics As Religion: From Samuelson to Chicago and Beyond

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Economics As Religion: From Samuelson to Chicago and Beyond
Robert H. Nelson
Manufacturer: Pennsylvania State Univ Pr
ProductGroup: Book
Binding: Paperback
ASIN: B000J4W44M

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Economics As Religion: From Samuelson to Chicago and Beyond
Robert H. Nelson
Manufacturer: Pennsylvania State University Press
ProductGroup: Book
Binding: Paperback
ASIN: B000ORANJM

Book Description

Do you design training programs that really work? Providing diversity in subject topics, the included case studies are derived from global companies and across industries and government showcasing the hows, whys, and how-wells of designing top performing training programs.

Book Description

Advances in genetics, such as the Human Genome Project's successful mapping of the human genome and the discovery of ever more sites of disease-related mutations, invite re-examination of basic concepts underlying our fundamental social practices and institutions. Having children, assigning responsibility, identifying causes, using social and scientific resources to improve human well-being, among other concepts, will never be the same. Our concepts of moral and legal responsibility, cause and effect, disease prevention, health, disability, enhancement, personal identity, and reproductive autonomy and responsibility are all subtly changing in response to developments in genetics. Biology, law, medicine, and other disciplines are also evolving in response to mutating concepts in genetics itself-for example, dominance, causation, behavior, gene expression, and gene. The selections in this volume employ philosophical and historical perspectives to shed light on classic social, ethical, and philosophical issues raised with renewed urgency against the backdrop of the mapping of the human genome.

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Ian McKenzies Squash Skills
Ian McKenzie
Manufacturer: Crowood Press (UK)
ProductGroup: Book
Binding: Paperback

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From ordering tapas in Madrid to making new friends in Costa del Sol, it helps to speak some of the native tongue. Rick Steves, bestselling author of travel guides to Europe, offers well-tested phrases and key words to cover every situation a traveler is likely to encounter. This handy guide provides key phrases for use in everyday circumstances, complete with phonetic spelling; an English-Spanish and Spanish-English dictionary; the latest information on European currency and rail transportation, and even a tear-out cheat sheet for continued language practice as you wait in line at the Guggenheim Bilbao. Informative, concise, and practical, Rick Steves' Spanish Phrase Book and Dictionary is an essential item for any traveler's mochila.

Customer Reviews:

Much Better with Behind the Wheel Spanish.......2007-08-14

Rick Steves is sort of a hero of mine. I enjoy his programs on PBS.
He does sometimes tend to oversimplify travel and now languages. The real problem with Rick is that he can't speak languages, admits that he can't and then he goes on to write books about how to speak them.
Still, the 'blind leading the blind' has its advantages. Rick knows what works for a 'tongue tied American' and therin lies the advantage.
You will never learn to speak Spanish with this book alone. It is a guide that will help you.
I have gotten excellent results using Behind the Wheel Spanish 8 CDs
in my car and reviewing Rick's book out of my car.Behind the Wheel Spanish/Complete Illustrated Text/Answer Keys/8 One Hour

RICK STEVES SPANISH PHRASE BOOK.......2007-07-22

This little book contains very essential phrases that you need to know. Also i liked that the book is small enough to carry around in my travels to South American & Mexico.

Probably helpful for Spain, but not for South America.......2007-07-12

I bought this book for a trip to Argentina. I know different countries speak variations on the same language - the English we speak isn't identical to what you hear in the UK, for example - but I didn't know how relatively useless this book would be there.

I found some words and phrases I needed, and the content at the beginning, the numbers, days of the week, months, and so on, were useful, especially the counting, because numbers are always the hardest to grasp in another language. The dictionary, greatly truncated as these usually are, has lots of helpful words, in both Spanish-English and English-Spanish.

I also thought the tear-out cheat sheet, printed on heavier paper, was handy, and appreciated the sly funny stuff Steves has slipped into the book - the handy phrases for picking up women, or for imploring the speed-demon taxi driver to slow down. The situational phrase section, covering what you need to know to travel, eat out, get medical care, and so on, were also useful, for the most part.

My complaint is that there is no acknowledgment of linguistic differences between Spain and the rest of the Spanish-speaking world. So I couldn't use much of the dining-out section, for example, because cuts of meat have different names in Argentina than they do in Spain. (I can't speak for Venezuela and Bolivia and Uruguay and Colombia and..., although I asume that they also have their own variations on the language.) And I didn't find some of the phrases I needed translated from Spanish to English, because the Argentines don't always use the "standard" Spanish words.

So while I'm sure this book is excellent for travel in Spain, I think the title is misleading - it should be retitled "Spanish Phrase Book and Dictionary FOR TRAVELERS TO SPAIN."

It's only marginally useful in other countries.

Great little phrase book.......2006-11-07

This phrase book was a great resource. My Spanish is okay, but not stellar, and this book gave me the extra that I needed to feel comfortable with my spoken Spanish. When I needed to know how to say something, I was always able to either find it, or piece it together from this book. The organization of the book made sense to me, making it easy to find what I was looking for as quickly as possible.

Essential travel accessory.......2006-10-31

Just enough information and just the right size for taking along wherever you go in Spain. It got me out of a jam on a number of occasions by providing just the right phase at just the right time. Don't leave home without it.

Rick Steves' Spanish & Portuguese Phrase Book & Dictionary

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Handy, up-to-date
Excellent resource for beginners.

Rick Steves' Spanish & Portuguese Phrase Book & Dictionary
Rick Steves
Manufacturer: Avalon Travel Publishing
ProductGroup: Book
Binding: Paperback

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ASIN: 1562614797

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This useful, funny guide will help travelers order meals in the cafs of Barcelona, and then show them how to ask their waiter "Qu le parece si lavo los platos?" ("What if I wash the dishes?"). From transportation talk and hotel chat to social issues and music, Rick Steves's phrase dictionary is a winner.

Customer Reviews:

Handy, up-to-date.......2003-03-10

This is a handy, up-to-date helper for people traveling on the Iberian peninsula. More than Northern European countries, some knowledge of the local language is necessary in Iberia. (Actaully, I'm speaking only from personal knowledge of Spain; I didn't travel in Portugal.) The book is divided into sections, including "Basics", "Numbers, Time & Money", "Sleeping", "Eating", "Transportation", "Sightseeing, Shoping & Entertainment", "Phoning, E-mail, Post Office & Red Tape", "Health", "Help" and "Chatting". The e-mail section both tells you how to get directions to a nearby internet cafe and translates operation terms that may appear on your screen. That's very handy if you want to use the internet to communicate with the folks back home or get messages from them while on your vacation.
Overall, I was impressed by this phrasebook and dictionary.

Excellent resource for beginners........1999-08-25

This book is a great resource if you meet Brazilian chicks in a bar. It really did the trick for me.

Book Description

A newly discovered cache of magnificent historical photographs.

There have been, and will be, other books on the New York City subway system, but none have had access to the wonderful photographic prints from the collections of the New York Transit Museum that are presented in this volume. Made from 8 x 10-inch glass negatives after the turn of the last century, and reproduced here in glorious duotone, over 175 images show the incredible construction techniques and details involved in creating the underground marvel we enjoy today. From "cut and cover" and deep tunneling to sinking under-river tubes and disastrous cave-ins, these photographs are nothing short of awe-inspiring. The book is accompanied by an engaging, illustrated history of the subway system. Published in honor of the New York City subway's centennial, A City Beneath Us will fascinate anyone who's ever been amazed by the gigantic undertaking that is New York City transportation. 175 duotone and 40 black-and-white photographs.

Customer Reviews:

I never knew..........2007-06-25

This is a fresh and eye-opening narrative of the history of the subway --and the history of the city, too. It's rich in unforgettable anecdotes of forgotten heroes, forgotten initiatives (successes and disasters), and ingenious developers. The photographs are a marvel. It's one of my favorite books.

Saved by the photos.......2006-06-25

The City Beneath Us is a superb collection of photos weighed down by a less-than-stellar text. The text reads like it was assembled by a committee, with each committee member writing a chapter. A more thorough editing could have smoothed the transitions and given the book a more unified feel. Though, the contributing writers are unified in one thing -- they are sure of who the New York subway's enemies were throughout the years. This strident finger-pointing also detracts. But then there are the pictures. Nearly all is forgiven in the face of these wonderful images. If you get geeked by trains or things underground, this is a great, if flawed, book.

No Maps!.......2004-12-27

The book presents an illustrated history of the NY subway in the first 81 pages with the remainder of the 160+ pages devoted to historic photographs. Since it was published by the NY Transit Museum I had high hopes. After reading the book, I felt that the history narrative was somewhat condensed being that 100 years were covered in 81 pages including photos. I was disappointed that there is not a single map or line drawing of the NYC transit system in the entire book! (I still find this hard to believe.) Having lived in NYC for 25 years I am familiar with the geography and layout of the subway system. But without a map, readers who are unfamiliar with the layout will be totally lost. How is one supposed to know the how the BRT, IRT and IND lines relate to each other geographically without a map? I had hoped that the book would illustrate how the subway expanded over time using maps and diagrams which it did not. I also expected more engineering drawings or diagrams. If you are looking for some great photos of building the subway then this book has hundreds of excellent pictures. If you are looking for a more detailed explanation of the history to include maps of how the subway expanded over the first 40 years then look for another book. I gave this book 4 stars because of the excellent photographs.

Not as impressed as I thought I'd be.......2004-12-01

I had high hopes for this book, after several delays and all the hype. But I was somewhat disappointed by the very poor quality of materials (especially the dustjacket), despite it being printed in Italy. The photos are worth 5 stars, but I expected more of them and a more coherent presentation. There are plenty of good histories of the NYC Subway--this book was supposed to be a treasure trove of photos.

I also think this book would have been more impressive if it were a larger format.

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