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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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Eli Berman, professor of economics at UCSD, discusses the economics of religious terrorism, explaining why strict religious clubs have an advantage in securing collective action and why they can be so lethal.

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