Scientific Models Versus Religious Beliefs

Discussion of scientific versus religious influences on the development of the 1744 scheme, in particular with regards to long-term projections made by Webster and Wallace in 1748, for the forecasted value of the “stock” of the fund many decades later. Introduces the suggestion and views of the statistician Karl Pearson, on the religious foundation of statistics. Emphasize the role of the German theologian J.P. Sussmilch, vis-à-vis religious influences on probability theory. A note on the Unitarian minister Richard Price and his criticism of the Presbyterian scheme. The chapter speaks to the more nuanced interpretation of the origins and success of the scheme, beyond actuarial science. It concludes by offering sources for additional reading and references.