Thursday, August 30, 2007

Religion and Economics

Recently read another paper (earlier one here) by Dr. Robert J. Barro, titled "Religion and Political Economy in an International Panel". Makes quite an interesting reading.
Two important theories of religiosity are the secularization hypothesis and the religionmarket model. According to the former theory, economic development reduces religious participation and beliefs. According to the latter theory, religiosity depends on the presence of a state religion, regulation of the religion market, suppression of organized religion under Communism, and the degree of religious pluralism.
Passing Note: The dollar bill reads, "IN GOD WE TRUST". I infer that more the dollar bills in my pocket, more is my religiosity ;-)

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