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…
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.
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.