Social Sciences and Issues: Impacts of Religion in Economic Development

Social Sciences and Issues: Impacts of Religion in Economic Development
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Social Sciences and Issues: Impacts of Religion in Economic Development
Introduction
Religious affiliation is a common phenomenon among most people in the world today. According to a survey conducted between 2018 and 2019, 65 percent of Americans claimed to be Christians, with 26 percent describing their religious identity as atheists, agnostics, or non-religious (Pew Research Center, 2019). However, government restrictions on religion have continued to be witnessed worldwide, with 41 percent banning religious-related groups in 2019 alone (Majumadar, 2021). According to the Pew Research Center, engaging in systematic violence or security concerns has frequently been cited as reasons for such bans. An emerging discussion among scholars in economics, religion, sociology, philosophy, psychology, and the public is the impact of religiosity on economic development. There have been contradicting reports around this subject, with some studies claiming that religious countries are the poorest. A recent article describes Indonesia as one of the countries that have experienced rapid economic growth yet are highly religious (Bayuni, 2021). In 2018, a study published in the journal of Science Advances indicated that a decline in religious beliefs could influence future economic growth, citing that secular countries may experience more growth (The Economic Times, 2018). Although it has been documented that wealthier nations tend to be secular while impoverished states tend to be religious, it is still debatable whether these claims are authentic. In attempting to resolve the eternal debates, it is critical to assess the impacts of religion in the economic development of countries as one of the important topics in sociology.
Negative Impacts of Religiosity on Economic Performance
The values and beliefs in different religions have historically taken center stage in religious debates and predominated following the 9/11 U.S. bombing by al-Qaeda, a militant Islamic group founded by Osama bin Laden during the 1980s (Mayoral & Esteban, 2018). Religion appears to be a multifaceted social phenomenon that impacts the choices and behaviors of people through multiple channels. Acts of terror such as the 9/11 attacks and jihadism or “Holy War” can be detrimental to economic growth. Besides terrorism, science and religion have often conflicted in several matters ranging from health and climate change to legal and financial issues. On issues related to economics, scientists are for the idea that a key pillar of economic prosperity is innovation. However, studies have shown that as individuals become more religious, they also become less inclined to innovation. Using data from the United States, other researchers have indicated a negative association between patents filed per capita and religiosity. Besides. There is a negative correlation between household income, economic progress, and church attendance. Exogenous differences in religious celebrations and practices such as lengthy Ramadan fasting among Muslims negatively impact output growth in many Muslim nations. On the same note, techniques such as Ramad...