Friday, November 18, 2011

Religion and Economics

AS PROTESTANT Europe, in its own eyes virtuous and thrifty, wrestles with the debt problems of the continent’s Catholic and Orthodox countries, the idea that religious affiliation may influence the way people save, work and spend is more appealing than ever. The toppling of Arab tyrants has lent urgency to a similar enquiry: do Islam and Islamism permit the legal and social conditions that make for prosperity?

Religion and economics: Holy relevance | The Economist

 

Does religion have influence on Economics? Probably less than it seems.

Contemplating Greece’s economic woes, it is easy to dream up some theory that connects Orthodox Christianity (and its comparatively charitable attitude to human weakness) with corruption or cronyism. Orthodoxy has a less pessimistic view of “original sin” than the Christian West—and its prayers for the dead emphasise “no man lives who does not sin”. Does that imply winking at misdeeds? Possibly—but then try explaining why Greek-Americans, who are at least as devout as their motherland kin, do so very well in business, education and public service. The plausible reason lies in America’s institutions which make it easier to prosper in an honest way.

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