Does placing time, talent and treasure in spiritual pursuits pay off? For many people, the answer is yes. Among the findings of recent studies in religion and economics, researchers report that children whose parents were observant tended to stay in school longer and get better jobs and that the poor in particular find religion a beneficial use of their time. Faith also extends to financial matters, with investors in religious mutual funds being less likely to react to market volatility even with lower returns than secular funds. There also is an economic downside for religious groups, however. Studies indicated that a rise in the welfare state contributed to steep declines in religiosity among some Western democracies and that the well-off are more likely than their less fortunate brethren to spend time at work and play than at prayer.