Protestant Reformation

The Protestant Reformation has been considered to be one ofthe most far-fetched historical events that had taken place inthe last millennia. It had ended the century-old hegemony ofthe Holy Catholic Church along Western Europe and has alsoaltered the economic as well as the political fortunes whereverit has reached its boundaries. It is quite a fascinating event thatamazes the social scientists for many reasons above its almost500th anniversary. The year 2017 has been officially designatedas the "Lutherjahr" in Germany. Firstly, the various forms ofeconomic consequences of the Protestant Reformation areconsidered to be of great importance for holding debates thatwould concern the long-term persistence of the economicgrowth in the West along with the understanding of theanalytical economic development. Secondly, the overall role ofthe economic innovations and development with respect to thecommunication technology as well as media towards instigatingthe changes in the Protestant Reformation tends to have abroader implication on the comparative end. Thirdly, the overallcase of the Protestant Reformation is considered to have set avital example of institutional change along with the causes &effects of which are the regions of importance in the political aswell as economic and sociology.The survey persuades the scientists that recent research thecauses and the effects of the Protestant Reformation hassignificantly improved the past scholarship. There has been agreater attention to the casual assessment in comparison to thecases that were in the past. The human beings of today wouldattribute much of it to the utilization of the econometrictechniques and the emphasis of the same on the casualidentification, a considerable improvement over the descriptiveapproaches as well as the inferences that are based on suchcorrelations.