Posts tagged with: Religion/Belief

Are you a risk-adverse investor? Then you may want to avoid choosing a mutual fund that’s headquartered in an area with lots of Catholics.

New research from the University of Georgia and Southern Methodist University and published in Management Science shows that the dominant local religion—whether Protestant or Catholic—significantly affects mutual fund behaviors.

Specifically, the findings show that mutual funds headquartered in heavily Catholic areas tend to take more risks and funds in heavily Protestant areas take less risks, said lead author Tao Shu, assistant professor of banking and finance in UGA’s Terry College of Business. The paper was co-authored with Eric Yeung of the Terry College and Johan Sulaeman of Southern Methodist University.

“Finding evidence that a local culture’s religious beliefs affect mutual funds’ risk-taking decisions is surprising because this a very competitive industry. One would expect that profit chasing would eliminate all the impact of culture or anything else,” Shu said. “But, surprisingly, a local culture’s religious beliefs still impact risk-taking decisions.”

Because mutual funds make up about half of all institutional investments in the U.S., the findings have widespread implications for how investors manage their money, he added.

Shu also notes that surveys show Catholics are more tolerant and Protestants less tolerant to speculative risk than the general population. “One suggestion is that many Protestant congregations are against gambling,” said Shu, “but Catholic churches are more tolerant of it—they may even use lotteries to generate funding for the church.”

Despite the risk-preference differences, the study showed that end results are about the same and that the risk-taking associated with local religious beliefs does not lead to superior fund returns. So rather than pouring over prospectuses when choosing a mutual fund company, just look at Google Maps and pick one that is surrounded by Baptist churches.

A recent survey contains one of the most disheartening statistics I’ve ever read: In eastern Germany the survey was unable to find a single person under the age of 28 who claimed they were “certain God exists.”

The survey was taken in 2008, which means that not a single person born after the fall of the Berlin Wall could be found who expressed no doubt about the reality of their Creator. In contrast, 17.8 of young people in western Germany are certain about God (which is still low compared to the U.S. (53.8 percent) or even Russia (28.2 percent).

In the Guardian, Peter Thompson says that some observers believe East German atheism is a form of continuing political and regional identification:

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Blog author: jcarter
Friday, September 21, 2012
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Trends in Voter Preferences Among Religious Groups
Pew Forum on Religion & Public Life

A new interactive graphic tracks voting preferences for the upcoming presidential election among several major religious groups.

Welfare Reform as We Knew It
Wall Street Journal

This new standard didn’t appear out of thin air, but is part of a liberal critique of welfare reform that has made its way into the Administration.

‘Doing God’
British Religion in Numbers

The majority of Britons are keen to keep religion apart from politics, according to a study published on 13 September 2012. 81% affirmed that religious practice is a private matter, which should be separated from British politico-economic life.

Why Christian Pacifism Is Inconsequential to Real World
Keith Pavlischek, Institute on Religion & Democracy

So, what does a pacifist do if he wants to get a serious hearing in the “halls of power?” Over the past several decades Christian pacifists have tried to come to grips with this problem.

Writing in the American Spectator, Acton’s Director of Research Samuel Gregg says the “enlightened” Western mind can no longer think seriously or coherently about religion:

Given the decidedly strange response of the Obama Administration and much of the Western commentariat to the violence sweeping the Islamic world, one temptation is to view their reaction as simple incomprehension in the face of the severe unreason that leads some people to riot and kill in a religion’s name. But while the Administration’s response has plenty to do with trying to defend a foreign policy that has plainly gone south, it also reflects something far more problematic: the Western secular mind’s increasing inability to think seriously and coherently about religion at all.

Read more . . .

Blog author: jballor
Wednesday, September 12, 2012
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Trailer at Overton Farm, Cranham - geograph.org.uk - 670364In today’s Acton Commentary, “Mike Rowe and Manual Labor,” I examine the real contribution from a star of the small screen to today’s political conversation. Mike Rowe, featured on shows like The Deadliest Catch and Dirty Jobs, has written letters to both President Obama and Mitt Romney focusing attention on the skills gap and our nation’s dysfunctional attitudes towards work, particularly hard labor, like skilled trades and services.

In his letter to Romney, Rowe writes that “Pig farmers, electricians, plumbers, bridge painters, jam makers, blacksmiths, brewers, coal miners, carpenters, crab fisherman, oil drillers…they all tell me the same thing over and over, again and again – our country has become emotionally disconnected from an essential part of our workforce.”
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Blog author: jcouretas
Tuesday, September 11, 2012
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On his personal blog, author and publishing industry executive Joel J. Miller asks, “What if we dumped Rand for Röpke?” Good question. Miller says that it’s simply unnecessary for Christians to invoke Rand in their defense of the free market. Why not base that defense on the work of a Christian economist instead?

“Unlike Rand,” he writes, “Röpke grounded his critique of socialism and his defense of free markets in a thoroughly Christian understanding of man and his world.” He goes on to say that not only is this critique “of an entirely differing quality than Rand’s, it’s far deeper as well. Röpke saw the materialist answers of socialism as papering over the spiritual crisis that beset Western civilization in the middle twentieth century, and still does to this day.”

Miller also includes a link (bottom of post) to a free, downloadable copy of Röpke’s The Humane Economy.

The PowerBlog has archived a number of articles on Röpke by Samuel Gregg, Acton Research director and author of Wilhelm Ropke’s Political Economy (Edward Elgar, 2010).

In the archives you’ll find links to the July 2 American Spectator piece titled “The Prophet of Europe’s Crisis” and have access to “The Profoundly anti-Keynesian Political Economy of Wilhelm Röpke,” a new podcast on the Library of Law and Liberty.

Blog author: jballor
Monday, September 10, 2012
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I thought this piece in BusinessWeek last month from Mark Oppenheimer was very well done, “The Rise of the Corporate Chaplain.” I think it profiles an important and under-appreciated phenomenon in the American commercial sphere. One side of the picture is that this is a laudable development, since it shows that employers are increasingly aware that their employees are not merely meat machines, automata whose value is only to be calculated in terms of material concerns, and that spiritual matters cannot simply be ignored or factored in as a variable included in the cost of doing business.

But this rise in corporate chaplaincy also reminds me of the comment by Walter Rauschenbusch (noted in this recent article from Hunter Baker) that “business life is the unregenerate section of our social order.”

If by some magic it could be plucked out of our total social life in all its raw selfishness, and isolated on an island, unmitigated by any other factors of our life, that island would immediately become the object of a great foreign mission crusade for all Christendom.

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Blog author: jcouretas
Thursday, September 6, 2012
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Video: At the Democratic National Convention, delegates opposed to adding language on God, Israel’s capital to platform shout, “No!” in floor vote.

On Powerline, John Hinderaker quotes from a recent Rasmussen Reports poll to show that “Democrats, bluntly put, have become the party of those who don’t go to church.”

Among those who rarely or never attend church or other religious services, Obama leads by 22 percentage points. Among those who attend services weekly, Romney leads by 24. The candidates are even among those who attend church occasionally. Romney leads by seven among Catholic voters and holds a massive lead among Evangelical Christians. [Ed.: Remember when one of the chief worries about Romney's candidacy was that evangelicals wouldn't support a Mormon?] Among other Protestants, the Republican challenger is ahead by 13. Among all other Americans, including people of other faiths and atheists, Obama leads by a 62% to 26% margin.

CNN reports that atheists were “deeply saddened” when Democrats inserted the word “God” back into their platform.

Perhaps because of the Republican Party’s ties to conservative Christianity, atheists tend to be Democrats. According to a 2012 Pew study, 71% of Americans who identified as atheist were Democrats.

Blog author: jballor
Wednesday, September 5, 2012
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Silla cedro TutankhamonGideon Strauss, my friend and sometime debate-partner, is the executive director of the Max De Pree Center for Leadership at Fuller Theological Seminary, and this week marks the launch of the center’s Fieldnotes magazine, which aims to “provide examples and stories and practical wisdom from men and women who are intensely involved in the day-to-day work of managing businesses, non-profits, churches, and other organizations.” In his introduction to Fieldnotes, Strauss invokes the powerful image of sitting in a chair as “a theological experience.”

“The chair communicates to me that I live in a wonderful world, beloved by God. It communicates to me that work matters — also work done in offices and at desks,” he writes. “And from what I know of its manufacture, it tells me that the work of designers, factory foremen, millwrights, and upholsterers is all worthy work — work to which people are called by God.”

Strauss hints here at the complexity of what might otherwise be considered a simple thing: a chair.
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Work: The Meaning of Your LifeThe subtitle of Lester DeKoster’s little classic, Work: The Meaning of Your Life–A Christian Perspective, can be a bit off-putting. Is work really the meaning of your life?

On the one hand, when we understand DeKoster’s definition of work, we might be a bit more amenable to the suggestion. DeKoster says that work is essentially our “service of others.” This means that “work” as such is not strictly defined as waged labor outside the home, for instance.

But there is another sense in which even this more restricted and perhaps common sense of work has under-appreciated significance. As DeKoster opens the book, he puts it plainly: “Work gets the largest single block of our lives.” Doubt this assertion? Take a look at this infographic from Planet Money that breaks down a typical day for someone with a full-time job:

Time spent on something is only one measure of importance, to be sure, but it is an important one. And the fact that, as DeKoster puts it, “work gets the single largest block of our lives,” makes it even more critical that we understand what makes work meaningful. For that understanding and as we approach this Labor Day weekend, DeKoster’s book is a great place to start.