In the early twentieth century, sociologist Max Weber set off decades of debate when he proposed that a Protestant ethic emphasizing hard work, thrift, honesty, and deferred gratification ignited the Industrial Revolution in Western Europe. If anything, the debate over what role religion plays in prosperity intensified throughout the century, especially with growing secularization. Disputes flared about whether declining religious adherence resulted in a deterioration of the virtues that Weber identified.
If so, what are the economic consequences of that decline? In The Wealth of Religions, Harvard's Rachel M. McCleary and Robert J. Barro assert that the economic value of religion is an empirical question that can be studied using modern quantitative analysis of data. Their new book is not, as the title might suggest, an exposé of how the world's religions accumulate wealth. Rather, it explores to what extent “religious beliefs motivate people to be productive.” A book with chapter headings like “When Saints Come Marching In,” which explores whether the Catholic practice of naming saints makes an effective growth strategy, might not appeal to those interested in life's deeper questions, but it brings an uncommon perspective to some familiar issues.
Read Full Article »