Rethinking Rationality in the Economics of Religion

Abstract

The theoretical core of the economics of religion is the rational choice theory of religion that follows the principle that individuals act rationally, weighing the costs and benefits of potential actions, and choosing those actions that maximize their net benefits. The economics of religion insists that the advantage of this principle of rational choice is that it makes it clear that religious behavior is often quite rational, rather than a consequence of mere ignorance, superstition, or wishful thinking. This paper assesses the validity of the theory of the economics of religion by comparing it with the Pascal's wager. Pascal showed that a rational person who compelled to bet on whether God exists or not should bet on the existence of God. The argument over the Pascal's wager helps us to examine the concept of rationality in the economics of religion. In conclusion, this paper acknowledges the significance of the economics of religion as far as it hypothetically presents the logical rationality of the believers in religions found from the viewpoint of external observers. However, the economics of religion is at fault to assert that religious behavior is rational on the grounds that the economics of religion can find the rationality in that way.