RELIGION AND THE RISE OF CAPITALISMBy Benjamin M. FriedmanWhat does an esoteric concept like Calvinist soteriology have to do with the rise of modern economics? Does laissez-faire have its roots in the arcane Quinquarticular Controversy? Questions like these, according to the Harvard economist Benjamin M. Friedman, are essential to understanding his discipline today. U stands for the fact that salvation is unconditional; God and God alone chooses the elect and we cannot influence his choice. Finally, the doctrine of the preservation of the saints reminds us that God is never whimsical; once he grants salvation, he grants it forever.

Source: New York Times January 26, 2021 09:56 UTC