Economics Vs Religion
Amanda Stevenson
Dr. Huber
BA 240
5 January 2016
The Correlation between Economics and Religion
Despite the seemingly nonexistent relationship between Economics and Religion, both institutions share common ground within functioning societies. Economics and Religion are separate entities; however, as time has gone on the two have grown closer together, and have even begun to intermingle. Religion has begun to reflect the construction of business, and economics is deriving more influence from religious ideals. The creation of blurred lines between Economics and Religion has created the need for clarity among the topics.
Lionel Robbins, author of The Nature and Significance of Economic Science, defines economics as “the science which studies human behavior as a relationship between ends and scarce means which have alternative …show more content…
uses” (Robbins). This complex relationship illustrates the broad as well as the potentially specific correlation between supply and demand, among other factors. This illustration has been further complicated by the introduction of combining both Religion and Economics. With the founding of the United States of America, innovative ideas, such as exploring the intermingling of both Religion and Economics have been introduced by two main founders: Adam Smith and Max Weber. Specifically, Smith
Religion epitomizes the imaginary component of Economics. The incentives associated with Religion are rarely tangible goods, but rather usually fulfill emotional and spiritual deficits. Contrarily, Economics alone contains clearly visible incentives. From an economic perspective, the specific religion of a person is not as important as whether a person belongs to a religion or not (Chiswick). This lack of importance associated with specificity is due to the fact that religions are not “equally conducive to development” (Bowyer). Religion typically encourages actions that result in the betterment of society by way of the common good mentality. Other times, religion encourages good behaviors in order to avoid major consequences. Within Christianity, an example of this would be condemnation to hell. However, Religion can be a hindrance to Economic growth. Citing Islam as an example, Peter Berger, a known sociologist, explains how from an economic perspective Islam can be an obstacle. This example actually does not address any textual beliefs concerning the Islamic faith, but rather claims a potential issue would be due to the inferior view of women in their society. By not allowing women to be educated, children suffer during their early stages of learning, which is time spent mostly with their mothers. This cycle hinders the development of society, which then hinders economic growth.
While religion does create an obvious positive impact on economics through the morally sound people, there are some disadvantages.
As noted by Adam Smith, the constraints of religion prevent maximum innovation. Varying of economics and religion is usually found in the United States due to the approximately twelve state religions. Other countries of the world may have only two or even one recognized states religion which constricts innovation. Smith discouraged a church monopoly, specifically referring to the Catholic Church pre Reformation era. By allowing competition, more ideas are allowed to thrive. This is good for church goers, which in this case are the consumers, because it allows people to find religions that best align with their personal beliefs.
Works Cited
Bowyer, Jerry. "Is Religion An Essential Driver Of Economic Growth?" Forbes. Forbes Magazine, 29 May 2013. Web. 04 Jan. 2016.
Chiswick, Carmel. "Economics and Religion." By Carmel U. Chiswick. University of Illinois at Chicago, Apr. 2010. Web. 04 Jan. 2016.
Robbins, Lionel Robbins. An Essay on the Nature & Significance of Economic Science. London: Macmillan, 1952.
Print.
Dr. Huber
BA 240
5 January 2016
The Correlation between Economics and Religion
Despite the seemingly nonexistent relationship between Economics and Religion, both institutions share common ground within functioning societies. Economics and Religion are separate entities; however, as time has gone on the two have grown closer together, and have even begun to intermingle. Religion has begun to reflect the construction of business, and economics is deriving more influence from religious ideals. The creation of blurred lines between Economics and Religion has created the need for clarity among the topics.
Lionel Robbins, author of The Nature and Significance of Economic Science, defines economics as “the science which studies human behavior as a relationship between ends and scarce means which have alternative …show more content…
uses” (Robbins). This complex relationship illustrates the broad as well as the potentially specific correlation between supply and demand, among other factors. This illustration has been further complicated by the introduction of combining both Religion and Economics. With the founding of the United States of America, innovative ideas, such as exploring the intermingling of both Religion and Economics have been introduced by two main founders: Adam Smith and Max Weber. Specifically, Smith
Religion epitomizes the imaginary component of Economics. The incentives associated with Religion are rarely tangible goods, but rather usually fulfill emotional and spiritual deficits. Contrarily, Economics alone contains clearly visible incentives. From an economic perspective, the specific religion of a person is not as important as whether a person belongs to a religion or not (Chiswick). This lack of importance associated with specificity is due to the fact that religions are not “equally conducive to development” (Bowyer). Religion typically encourages actions that result in the betterment of society by way of the common good mentality. Other times, religion encourages good behaviors in order to avoid major consequences. Within Christianity, an example of this would be condemnation to hell. However, Religion can be a hindrance to Economic growth. Citing Islam as an example, Peter Berger, a known sociologist, explains how from an economic perspective Islam can be an obstacle. This example actually does not address any textual beliefs concerning the Islamic faith, but rather claims a potential issue would be due to the inferior view of women in their society. By not allowing women to be educated, children suffer during their early stages of learning, which is time spent mostly with their mothers. This cycle hinders the development of society, which then hinders economic growth.
While religion does create an obvious positive impact on economics through the morally sound people, there are some disadvantages.
As noted by Adam Smith, the constraints of religion prevent maximum innovation. Varying of economics and religion is usually found in the United States due to the approximately twelve state religions. Other countries of the world may have only two or even one recognized states religion which constricts innovation. Smith discouraged a church monopoly, specifically referring to the Catholic Church pre Reformation era. By allowing competition, more ideas are allowed to thrive. This is good for church goers, which in this case are the consumers, because it allows people to find religions that best align with their personal beliefs.
Works Cited
Bowyer, Jerry. "Is Religion An Essential Driver Of Economic Growth?" Forbes. Forbes Magazine, 29 May 2013. Web. 04 Jan. 2016.
Chiswick, Carmel. "Economics and Religion." By Carmel U. Chiswick. University of Illinois at Chicago, Apr. 2010. Web. 04 Jan. 2016.
Robbins, Lionel Robbins. An Essay on the Nature & Significance of Economic Science. London: Macmillan, 1952.
Print.