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 transitioned into becoming a publishing translator, which had been my long-held dream. In the work of translation, I always feel an excitement similar to a violinist performing a masterpiece in ecstasy. I previously translated an economics book titled "Good Capitalism, Bad Capitalism," and I believe that led the editor to reach out to me for this book.

This book is co-authored by the prominent American economist Robert Barro and his wife, ethicist Rachel McCleary. It is a challenging work that shines the light of economic science onto the incredibly vast and transcendent existence of religion. While it might seem like an irreverent or reckless attempt—as if placing religion on a chopping block—past thinkers have actually challenged similar themes. Famous examples range from Adam Smith to Max Weber, and more recently, there is research by economists such as Laurence Iannaccone, which is introduced here in an easy-to-understand manner. Simultaneously, the authors utilize 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 economic development during the Industrial Revolution by preaching thrift, honesty, and diligence to believers. He also predicted that as nations became wealthier, secularization would progress. So, as economic development advances, will religion disappear from the world?

2. Why has recent Islamic fundamentalism or cults incited 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 increasing. Will this become the mainstream in the future?

The authors answer these questions meticulously.

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 more than science can handle, 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

Translated by Takehiko Tanaka

Keio University Press

264 pages, 2,970 yen (tax included)

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