The Intersection of Religion and Economics

The podcast discusses the pivotal relationship between religious thinking and the development of modern Western economics, emphasizing that religion significantly influenced economic philosophy. Professor Benjamin M. Friedman argues that foundational economic theorists like Adam Smith and David Hume were shaped by the highly theological context of their time, which contrasts with the common narrative that associates modern economics solely with secular Enlightenment ideas. Friedman contends that the religious debates and ideas prevalent in the English-speaking Protestant world during the 18th century were essential stimuli for their economic theories. This perspective reframes the historical understanding of economics, suggesting that the roots of economic thought were not exclusively secular but deeply intertwined with religious beliefs.