Article: Keister, Lisa A. 2008. “Conservative Protestants and Wealth: How Religion Perpetuates Asset Poverty.” American Journal of Sociology 113(5): 1237-1271.
Summary:
Praying may have been found to have positive psychological benefits, but it may not necessarily bring you wealth—especially if you are a conservative Protestant (CP).
According to Lisa Keister (American Journal of Sociology 2008), conservative protestant maintain specific cultural values that limit asset accumulation over the life course. Lower educational achievement expectations, early fertility, large family size, and limited labor force participation are partially responsible for curbing wealth.
Religious beliefs also lower accumulation among conservative Protestants. Because adherents believe that money belongs to God, they seek divine guidance in managing their wealth and avoid amassing more than they need. Doing so reduces accumulation over time as CPs don’t reap the benefits of compounding interest and reduces the wealth inherited by the next generation.
Along with beliefs, Keister found that the longer a person was a member of the church [church membership duration], the more likely they were to have lower assets. Conservative Protestants raised and maintained their faith had the lowest wealth; those who were raised as CP and subsequently left the church had the second lowest wealth; and those who only joined the faith as an adult were least disadvantaged. More exposure to this value set left member’s with less resources.
Known for its high levels of inequality and religiosity, the U.S. offers an important case study in understanding how religion may inadvertently cause poverty.
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[...] admin wrote an interesting post today onHere’s a quick excerpt“Conservative Protestants and Wealth: How Religion Perpetuates Asset Poverty.” American Journal of Sociology 113(5): 1237-1271. Summary: Praying may have been found to have positive psychological benefits, but it may not necessarily … [...]