Is capitalism a religion?
“Its moral code promises salvation, its high priests uphold their orthodoxy. But perhaps too many of its doctrines are taken on faith,” writes John Rapley in The Guardian.
The Guardian continues… “Economics offers a comprehensive doctrine with a moral code promising adherents salvation in this world; an ideology so compelling that the faithful remake whole societies to conform to its demands. It has its agnostics, mystics and magicians who conjure money out of thin air, using spells such as ‘derivative’ or ‘structured investment vehicle’. And, like the old religions it has displaced, it has its prophets, reformists, moralists and above all, its high priests who uphold orthodoxy in the face of heresy.
“Over time, successive economists slid into the role we had removed from the churchmen: giving us guidance on how to reach a promised land of material abundance and endless contentment. For a long time, they seemed to deliver on that promise, succeeding in a way few other religions had ever done, our incomes rising thousands of times over and delivering a cornucopia bursting with new inventions, cures and delights.
“This was our heaven, and richly did we reward the economic priesthood, with status, wealth and power to shape our societies according to their vision… [read more]