Religious households more likely to save money, plan for the future

Nicholas C. DiDonato

Family savings

Some see religion as an unnecessary burden because it requires time and money. While time cannot be recovered, money has a way of yielding returns on investment. Research by economists Luc Renneboog and Christophe Spaenjers (both Tilburg University, Netherlands) suggests that religious households tend to save money and plan for the future more than non-religious households, and, further breaking their results down, that Catholics attach greater importance to thrift and less importance to risk than Protestants.

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Religion the opiate of the poor?

Nicholas C. DiDonato

Karl Marx saw religion as an opiate of the poor: it soothed them so that they did not rise up against their capitalist oppressors. For Marx, this short-term relief hardly outweighed the long-term cost of poverty. It turns out that Marx may have been right. Research by political scientists Frederick Solt, Philip Habel, and J. Tobin Grant (all from Southern Illinois University) suggests that greater economic inequality correlates with greater religiosity, a correlation which they argue stems from the rich using religion to discourage wealth redistribution.

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