Predestination and the Protestant ethic

This paper shows an equivalence result between the utility functions of secularagents who abide by a moral obligation to accumulate wealth and those of religiousagents who believe that salvation is immutable and preordained by God. Thisresult formalizes Weber's renowned thesis on the connection between the worldlyasceticism of Protestants and the religious premises of Calvinism. Furthermore,ongoing economies are often modeled with preference relations such as "Keeping upwith the Joneses" which are not associated with religion. Our results relate thesesecular economies of today and economies of the past shaped by religious ideas.