Sunday, July 18, 2010

Money, Greed, and God, by Jay W. Richards

The discerning thinker should make a habit of reading books written from perspectives other than his own, with which he or she is sure to disagree, and which will challenge his thinking by presenting views contrary to those he holds dear.  For me, this is not that book.  For me, this is a book I wish I had written, with which I could find nary a word with which to disagree. 

Jay Richards is or has been affiliated with the Heritage Foundation, the Discovery Institute, and the Acton Institute for the Study of Religion and Liberty, for whom I worked for 4 years.

Richards spends a chapter tearing apart each of these myths about capitalism:

1. The Nirvana Myth (contrasting capitalism iwth an unrealizable ideal rather than with its live alternatives)
2. The Piety Myth (focusing on our good intentions rather than on the unintended consequences of our actions)
3. The Zero-Sum Game Myth (believing that trade requires a winner and a loser)
4. The Materialist Myth (believing that wealth isn't created, it's simply transferred)
5. The Greed Myth (believing that the essence of capitalism is greed)
6. The Usury Myth (believing that working with money is inherently immoral or that charging interest on money is always exploitative)
7. The Artsy Myth (confusing aesthetic judgments with economic arguments)
8. The Freeze-Frame Myth (believing that things always stay the same--for example, assuming that population trends will continue indefinitely, or treating a current "natural resource" as if it will always be needed)

The basic point of Money, Greed, and God, as the subtitle ("Why Capitalism is the Solution and Not the Problem") suggests, is that capitalism, more so than collectivist or socialist solutions touted by many Christians, offers a structure which can foster prosperity and virtue, and, more importantly, is not by its nature in conflict with the Gospel and teachings of the Bible.

What he writes is controversial to some, and he does name names, but his tone is friendly, engaging and sympathetic.  I get the impression that when he debates people, even people with who he heartily disagrees, at the end of the debate he and his foe can be buddies.

Some might argue that Christians who defend capitalism have no regard for the poor.  Richards debunks that perspective while providing a thorough, readable defense of capitalism.

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