Short answers, pulled from the story.
Max Weber published The Protestant Ethic and the Spirit of Capitalism in 1905. This book linked Protestant theology to the rise of capitalism through diligence and frugality.
Weber argued that Calvinist doctrines like predestination enabled this economic shift. He believed good fortune from hard work proved a person's right to possess wealth.
John Smith emphasized the Protestant work ethic by stating he that will not work shall not eat. This policy is credited with helping the early colony survive and thrive in its relatively harsh environment.
A 2013 study of 44 European countries found that Muslim then Orthodox then Catholic heritages were the strongest. Protestant heritage was actually the least correlated with a strong work ethic.
Researchers attribute that divide to intrinsic appreciation of work amongst Protestants. A 2021 study argues that values represented by the Protestant ethic are not exclusively related to Protestantism but to the modernization phase of economic development.