Through Protestant ethics and spirit of capitalism, Weber stressed the influence of religious attitudes on economic ones. In light of this, how far do you think religion influence economic outcomes in contemporary times?

Contemporary times

Today, there is a limited influence of religion on economic outcomes.

•) Capitalism has detached from Protestantism, present almost all contries with different relgions. It is based on rational organisation of work.

•) Government policies determine direction of economy. Eg 1991 liberalisation in India.

•) Further, role of market, demand & supply is pertinent. Eg 2008 financial crises due to market crash.

•) Dependency theory (Andre Gunder Frank) shows unequal international relations rooted in historical colonialism. Powerful countries determine economy not religion. eg control of WTO in hands of 'core' powers.

•) One's identity on gender, caste, class, ethnic & so on dimensions influences one's position. eg → pink collared caste industry dominated by women.

However, role of religion can't be completely discarded.

•) Religious values affect choice of occupation. eg → non-violence in Jainism, leads to their concentration in trade.

•) Religion in India is intimately connected to caste, which decides one's profession to some extent. eg → manual scavenging is predominantly done by lower castes.

•) Religion affects interaction between countries which affects trade. Eg → Islamic Gulf Cooperation Council

•) Religion can lead to conflicts, disunity. This further brings violence, riots perpetuating poverty.

•) Marx claimed religion as 'opium' of masses which distracts them from objective exploitative reality. Even today people believe in paradise suffer exploitation.

•) Religion is itself has emerged as a business enterprise due to rise of media & technology.