Adam Smith published The Wealth of Nations in 1776. He argued that religious organizations operate under the same market forces as any other economic sector.
Max Weber identified a specific relationship between Protestantism and the rise of modern capitalism in 1905. His theories suggested that religious beliefs could drive economic behavior in profound ways.
Azzi and Ehrenberg proposed their model in 1975 suggesting individuals allocate time and money to maximize utility across both secular and religious institutions. This allocation happens with one eye on life here and another on the afterlife.
Iannaconne assigned religion the label of club good in 1998 stating that costly rituals serve to exclude free-riders from receiving benefits within the group. Field experiments show that religious people often display higher trust levels toward fellow adherents.
School attendance reached about 50% in Catholic regions by 1816 compared to 66% in Protestant areas. Martin Luther favored Christians reading the Bible independently which drove higher literacy rates.