According to a recent study by the Federal Reserve Bank of St. Louis, there is a link between belief in hell and less corruption and higher standards of living. The study implies that the likelihood of extreme consequences for immoral behavior compels people to behave in a more trustworthy way, creating mutual trust and above-board values that foster a thriving business environment. It even cites that granddaddy of capitalism Adam Smith:
Adam Smith, the 18th century Scottish economist and philosopher, argued that a society infused with religious beliefs would be less inclined to devote its resources to determining an individual's or firm's business ethics — "what economists call the credit or default risk associated with lending to an unknown individual," according to Kevin Kliesen, author of the report and an economist at the St. Louis Fed.
Even Allen Greenspan chimes in to promote this view of economic growth:
"Rules cannot substitute for character," Greenspan said in a 2004 speech. "In virtually all transactions, whether with customers or with colleagues, we rely on the word of those with whom we do business. Even when followed to the letter, rules guide only a few of the day-to-day decisions required of business and financial managers. The rest are governed by whatever personal code of values that managers bring to the table."
These studies strike at the very heart of what is problematic about imagining a society without religion. If we lack religious institutions ingrained into the social fabric, how are basic ethical principles disseminated into a culture. Despite what atheists and anti-theists would like, there is a Judeo-Christian undercurrent in American moral culture. It’s surely debatable the extent to which religious morality has contributed to American economic dominance, but that Judeo-Christian background has certainly served as a unifying and stabilizing factor in our history.
Maybe this idea says something more about human nature than it does about religion or economics. Human beings may require more than mere earthly authorities to enforce their adherence to ethical codes. The government may not catch you cheating on your taxes, but God will always find out. Again, for those of us who advocate for a more godless society—or at least a less religious public sphere—this view poses difficult challenges. Is a moral commitment to a just society and the fear of getting caught by the government enough to induce non-religious people to behave morally? Is an abstract belief in things like equality, the rule of law, property rights, and honesty enough to scare godless citizens into being good? Maybe hell isn’t such a bad idea after all.
