Witchcraft’s Link To Economics

Posted by K R on

Could there be a link between the number of people who believe in witchcraft and the state of the economy in the country where they live? A new study claims there is and this type of voodoo economics may explain why these countries do so poorly monetarily. Is there a way to help them that doesn’t involve needles and dolls shaped like bankers? Boris Gershman is an economics professor at American University with an eye on on social capital as well as the monetary kind. An evil eye, you might say, as Gershman’s previous research was on the “evil eye” – the belief in some cultures that a mere look at someone or something can cause their demise. In his new report in the Journal of Development Economics, Gershman applied statistical analysis to the theory that widespread witchcraft beliefs negatively impact a country’s fiscal health.
A belief in witchcraft may be a way to keep order in society, but it’s definitely not the best way. It forces one to conform to local norms because any deviation may lead to an accusation.
Gershman’s study found that witchcraft beliefs in parts of 19 countries in sub-Saharan Africa (including South Africa, Cameroon and Zambia) caused a serious decline in trust, mutual assistance, personal interactions and other elements of social capital that manifested into economic impediments. Read More: Mysterious Universe

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