The Wealth of Religions: The Political Economy of Believing and Belonging by Robert J. Barro and Rachel M. McCleary

2021/07/08

It has been 15 years since I retired from my business career at age 60 and became a publishing translator, a long-held dream of mine. In the work of translation, I always feel an excitement similar to a violinist playing a masterpiece in ecstasy. I previously translated an economics book titled "Good Capitalism, Bad Capitalism," and I believe the editor reached out to me for this book after seeing that.

This book is co-authored by the prominent American economist Robert Barro and his wife, ethicist Rachel McCleary. It is a challenging work that examines what happens when the light of the science of economics is shone upon the immensely vast and transcendent existence of religion. While it may seem like an irreverent and reckless attempt—as if placing religion on a chopping block—past thinkers have actually taken on similar challenges. Famous examples range from Adam Smith to Max Weber, and more recently, there is research by economists such as Laurence Iannaccone, which is introduced in an easy-to-understand manner. At the same time, the authors use a wealth of recent data to verify these claims.

Among the pillars supporting this book, I find the following questions particularly interesting.

1. Weber argued that faith promoted thrift, honesty, and diligence among believers, thereby developing the economy during the Industrial Revolution. He also predicted that as countries became wealthier, secularization would progress. So, as economic development advances, will religion disappear from the world?

2. Why do recent Islamic fundamentalism and cults incite terrorism? Why do religions with strict precepts coexist with those that are more lenient?

3. The group known as "Nones," who do not belong to any existing religion but only offer prayers, is growing. Will this become the mainstream in the future?

The authors answer these questions thoroughly.

A passage in the book states: "Both religion and science attempt to explain the mysteries of this world, but at a certain point, religion gently holds and comforts people." Historically, there has been a deep relationship between religion and infectious diseases. Now, in the era of COVID-19, if multiple variants become unmanageable for science, will religion shine its light once again?

The Wealth of Religions: The Political Economy of Believing and Belonging by Robert J. Barro and Rachel M. McCleary

Takehiko Tanaka (Translator)

Keio University Press

264 pages, 2,970 yen (tax included)

*Affiliations and titles are as of the time of publication.