It’s been three decades since the inception of Sunday trading, allowing large retail players, including Arnotts, Brown Thomas and Marks & Spencer of Dublin, to operate on Sundays. To some, the shift was hailed as a convenience while others viewed it as the victory of economics over religious beliefs.
In today’s world, digital shopping allows consumers to indulge in retail therapy at any given time. Considering the decline of religion in Ireland, it seems an odd question to pose – Does religious belief have any impact on economics? If it does, is the dismissal of religion leading to a loss within the economic sphere?
The term ‘religion’ in the Irish realm primarily, though not solely, relates to Catholicism. The literature piece The Wealth of Nations by Adam Smith, the initiator of economic theory and a Scottish Presbyterian, includes several references to religion. In it, he criticises the clergy, claiming they are fuelled by their own economic interests, remarking, “In the Church of Rome, the industry and zeal of the junior clergy are kept alive more by their potent self-interest, than any established Protestant Church.” Smith elaborates that the local clergy rely heavily on thepeople for their income.
Economic theory, often described as the depressing science, has held prominent influence in Ireland for numerous years. Our materialistic advancement and corresponding self-worth have often been gauged by the increase in GNP. However, there may be less emphasis on how this GNP is allocated. Economic values diverge from the doctrine of the Gospel; in Luke’s Gospel, it is stated anyone having two tunics ought to part with one, epitomising the cornerstone Gospel values of caring for and serving one’s neighbour.
Far from being gloomy, the Gospel promotes a message of hope. Beyond the Gospel, enlightening lessons can be extracted from a variety of other religious scriptures. Pope Francis, several years back, emphasised the imperative of safeguarding our shared habitat, as outlined in his encyclical, Laudato Sì. Over a century before that, Pope Leo XIII in his encyclical Rerum Novarum, or Revolutionary Change, highlighted the necessity for the improvement of the working class conditions and the critical importance of fair pay.
It is striking that there seems to be no literature from Irish economists discussing the possible relationship between religion and economics, be it beneficial or detrimental.
The phrase “huge fortunes of a few while there is widespread poverty” was used by the Pope. This might not hold true for current-day Ireland, but it was definitely the case historically, and is undeniably so on a global scale.
The Gospel delivers an uncompromising stand when it comes to a child’s wellbeing. It asserts that it would be preferable if a millstone were tied around the neck of someone who scandalises a child, and they were drowned at sea.
It seems that misuse of power lies at the heart of the church’s issues. The dreadful heart of the abuse was power. The perpetrator, irrespective of whether they were priests, teachers, religious members or family, was always in control. Economic vulnerability often derives from sexual vulnerability. A crucial measure in preventing future abuse would be the equitable distribution of income. A study conducted by the CSO last year disclosed that the likelihood of poverty was elevated in households with a single adult (27%) and households consisting of a single adult and children (approximately 20%). The majority of those abused were children and single adults.
Sexual abuse perpetrated by clerics led to dwindling church attendance. However, it was also seen that the church’s wealth was a bitter pill to swallow for many impoverished individuals. Contemplation is duly required when the sight of opulent churches, sometimes funded by the meagre savings of the poor, plays out against the backdrop of people living in abject poverty.
In relation to top economic intellectuals, Catholics, whether in Ireland or globally, seem to be scarce. Interestingly, three renowned economists of the 20th century, all Nobel laureates, Gary Becker, Milton Friedman and Paul Samuelson, were of Jewish faith.
While I am yet to come across scholarly articles by Irish economists examining the nexus between religion and economics, this is not the situation across Europe. For instance, the seminal piece, History of Economic Thought, by Eric Roll kicks off with an examination of the Old Testament. The Protestant Ethic and the Spirit of Capitalism is the focus of Max Weber’s work, and RH Tawney penned Religion and the Rise of Capitalism. However, Marx discarded religion, referring to it as the soporific for the masses.
Considering the extensive conflict and ruthless behaviour often instigated by economical reasons worldwide, it begs the question whether the principle of “Love thy neighbour” is completely disregarded, or if it ever was genuinely followed.
Dr Finola Kennedy, an economist and published author of works such as Cottage to Creche: Family Change in Ireland (2001), Frank Duff: A Life Story (2011) and Local Matters: Parish, Local Government and Community in Ireland (2022), is mentioned.