To what extent is the term “market” useful in describing or understanding religion, particularly during the era of America’s founding in the late 18th century? We take up this discussion with Prof. Chris Beneke of Bentley University who recently wrote a paper about the use of the “free market” metaphor. We talk about the use of economics to study religion as well as whether the Founding Fathers intended to create a laissez faire landscape for religious competition.

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Did religion or church-state institutions have anything to do with the great economic divergence between Christian Europe and the Islamic world beginning in the 11th century? Prof. Jared Rubin of Chapman University reviews the economic history of these two civilizations, covers the dominant explanations for the observed divergence, and then discusses his own research showing that the relationship between religious and political authorities in each region of the world had a great deal to do with why Europe surged ahead economically. We focus primarily on the role of usury laws and financial interest, but Prof. Rubin gives us a taste of some of his work relating to the economic importance of the printing press.

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Author Larry Witham takes an outsider’s look at the “economics of religion,” a relatively new academic perspective on understanding religious behavior and institutions. We trace the history of this academic school from Adam Smith to contemporary times and investigate how the logic of economics can help explain behavior at the level of the household, organization and market. The economics of religion is not just about financial concerns, but deals with how religiously-motivated individuals achieve their goals (including evangelization) in a world of scarcity. The basic assumptions and premises of the approach are examined, as are the critiques of the approach.

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The Church of Jesus Christ of Latter-Day Saints has exhibited remarkable growth and its members show remarkable commitment and satisfaction with their church. Prof. Michael McBride (UC-Irvine) talks about LDS organization and how Mormons overcome the free-riding problem that is common in many other denominations.

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Economist Marc von der Ruhr (St. Norbert’s College) explains how megachurches attract and retain members, becoming one of the fastest growing segments of the American religious landscape. (To download, right click on the download button and select “save target as…”).

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