I’ve blogged here before about my participation in Simbi, an online bartering community. Sacred Economics is a book I found there; hardly surprising given Simbi’s raison d’etre and Eisenstein’s skeptical attitude towards currency, credit, and capital.
Author: Charles Eisenstein
My GoodReads rating: 5 stars
Average GoodReads rating: 4.25 stars
Language scaling: B2+
Summary: Eisenstein presents the history of economics and argues that we’re in the midst of a model shift from profit-based capitalism to community- and connection-based gifts.
Recommended audience: Anyone
In-depth thoughts: I read this alongside Sapiens, which was an interesting experience. It was the equivalent of hearing a history of humankind in stereo, in two slightly different arrangements. Some points are similar and mesh really well; some are contradictory and require further research and scrutiny.
I want to say, straight off the bat, that there are a lot of un-founded assertions and bizarre speculation presented here that I recognize immediately as such and, as someone amenable to Eisenstein’s larger thesis, that I regret made it in what appears to be the more or less latest edition of the book. If Harari was too much of a materialist for my taste, Eisenstein wasn’t enough of one: infinite energy inventions by Tesla and the like weren’t quashed by greedy capitalist pigs, they just never existed; the sun isn’t powered by human gratitude and isn’t less yellow than it was thirty years ago; homeopathy isn’t a viable substitute for evidence-based medicine*. It’s hard to tell if Eisenstein genuinely believes these assertions or if he’s presenting them as a rhetorical flourish on his larger point, but either way they damage his credibility.
On the other hand, Eisenstein makes no attempt to disguise the fact that Sacred Economics represents his own theory of economics. Instead of taking anything as a given, he makes a very solid effort to defend his theory (through his own arguments as well as copious amounts of research and quoting from others), rather than taking it as a fact and spending most of the book explaining human history.
Yellow suns and homeopathy aside, Eisenstein touches on a lot of important issues. I was torn between four and five stars for just that reason: I don’t want to endorse faulty reasoning or bad science, but I also think people need to reassess their perspective on money and where it comes from and what it does. That alone makes the book worth reading.
Eisenstein’s style is warm and personal, if somewhat rambly. It should be an approachable text for high-intermediate learners, though economics is a complex topic and even after multiple close readings I’m not sure I walked away understanding everything.
*For a fair, evidence-based look at the measured benefits of homeopathy (and there are some! but not the ones its adherents usually claim), I’d recommend Jo Marchant’s Cure. You can read more about it in my review from a couple of years ago.