Sharia Banks Stable in Midst of Crisis

January 21, 2009: Jeff Karoub and Sebastian Abbot from SFGate examine the emergence in America of a new banking system founded on Sharia (Islamic Law) principles:

"Islamic law says money cannot grow by itself, the way it does with compounding interest. Trade is acceptable as long as the equal amounts of money are traded or two different things are swapped with a fairly negotiated price.
So a dime for an apple would be considered halal, or religiously acceptable, while one apple for two apples would be harem, or unacceptable."

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Bad Times are Good for Evangelical Churches

Dec. 13, 2008: Paul Vitello from the New York Times writes about growing numbers at Evangelical institutions during economic crisis:

"But since September, pastors nationwide say they have seen such a burst of new interest that they find themselves contending with powerful conflicting emotions — deep empathy and quiet excitement — as they re-encounter an old piece of religious lore: Bad times are good for evangelical churches."

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Religion and Wealth Accumulation/Retention

Lisa Keister, from Ohio State University, examines the impact of religion on wealth accumulation and retention:

"Overall, the median net worth of Jewish people in the survey was $150,890, more than three times the median for the entire sample ($48,200). The median net worth for conservative Protestants (which included Baptists, Jehovah’s Witnesses, Seventh-Day Adventists, Christian Scientists, among others) was $26,200, or about half the overall average. The median net worth of mainstream Protestants (including Episcopalians, Methodists, Presbyterians, Lutherans, Unitarians and others) and Catholics were similar to each other and about the average for the whole sample.

While some may say that the results confirm religious stereotypes, such as the contention that Jewish people are greedy and acquisitive, Keister strongly disagrees.

“What I’m finding is that families have a powerful influence on how people learn to save, and religion is often an important part of family life,” Keister said. “The things children are taught in Jewish homes are very different than those that are taught in conservative Protestant homes.”
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