this post was submitted on 07 Jul 2024
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The mention of Friedman brings us to another feature of the capitalism-as-religion hypothesis: the economic specialists who function in a way very similar to ‘theologians’. Not only do they debate the core doctrines of capitalism, and not only do they develop new ‘schools’ or ‘churches’, but they also advise governments in much the same way that priests, ministers and theologians used to advise European governments of the past. And where you have doctrines and theologians, you also have sacred places for worship. These places may vary – stock markets and banks come to mind – but one must show due reverence to them and engage in the appropriate acts of worship. Individual life too has its rituals of this new religion, focused on spending and saving, on buying and selling.