In 1959, Alf Henrikson wrote the rhyme, “Vanliga svenska folket är baptister i Örebro. Det är duktigt att köpa och sälja samt starkt i sin kristna tro.” [‘Typical Swedes are Baptists in Örebro (in central Sweden). They’re good at buying and selling and strong in their Christian faith.’]

Henrikson highlighted the connection that has historically existed between religious revivalism and entrepreneurialism. It is only when some executive with a background in a non-conformist religion behaves unethically, for instance in the case of Skandia’s Lars-Eric Petersson, that this kind of link is given prominence in public – and then only to make the scandal more sensational. 

One explanation for the connection between non-conformist religion and entrepreneurialism has focused on the importance of industry, responsibility, thrift and honesty. The revivalist movement gave rise to heightened involvement i...