Economics of Monasticism

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* Paper: The Economics of Monasticism. By Nathan Smith. ASREC/ARDA Working Paper Series



"Since their emergence in ancient times, Christian monasteries have proven to be among the most durable of all human institutions, and in the medieval centuries made enormous contributions to the emergence of Western civilization. They are organized internally on socialist lines: monks own no property and owe total obedience to the abbot, making the monastery a miniature 'centrally planned economy.' A puzzling contrast exists between the longevity of monasteries and the transience of secular socialist communes. This paper presents a theoretical model which shows why voluntary socialist communes might be viable despite 'shirking' problems, yet fail due to turnover, and how worship, which induces people with high 'spiritual capital' to self-select into the monastery and then grows that spiritual capital through 'learning-by-doing,' can solve the turnover problem and make a worship-based socialist commune - a monastery - stable. Monasticism, like the market, is a form of 'spontaneous order,' but unlike the market, it does not depend on third-party enforcement (e.g., by a state) to function: this explains why monasticism (unlike capitalism) was able to thrive in the anarchic Dark Ages. Monasteries, in principle and largely in practice, are a form of society based on consent of the governed, unlike liberal states which preach but do not practice consensual governance, and it is interesting to juxtapose the real, live 'social contracts' of the monasteries with the notional social contracts of liberal political theory."


Kevin Flanagan:

"I've been reading 'The Economics of Monasticism by Nathan Smith' over the past week. He makes some interesting points in comparing the sustainability of intentional communities with that of Christian monasteries. Citing a study by Rost et al (2008) that "An average longevity of 463 years makes monasteries more durable not only than firms, but even than most states." and further suggesting possibilities as to what makes them so successful." (2013/1/30, [1])

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