Moral Values and the Monetary Crisis

European bishops recently asserted that that “a distorted hierarchy of values” are one of the leading causes behind the global financial crisis. Read the full article here

The article certainly seems to be true, although few who have profited would be willing to admit it. It indeed appears that at the heart of financial breakdowns is greed. A greed to have far more than one needs, an unwillingness to allot some of this wealth to one’s neighbor, and an economic infrastructure which thrives on the acquisition of wealth through the impoverishment of others.

Now, I do not wish for my statements to be taken out of context. There is nothing wrong with having some money and nice possessions. However, it seems that our sense of “want” and “need” has been very perverted. We want a new television, we need food. We don’t need a new television. It is a desire. There is nothing wrong with having and satisfying these desires, assuming that we do so in a morally acceptable way. However, we must remember that it is only a desire, not a need. We can not allow others to suffer because of our desire. If our neighbor can not afford food and we do not offer him money because we want a new TV, then we have a problem. We must align our priorities so that we are not overcome by earthly wishes and all of our energies are devoted to fulfilling them. This strong sense of entitlement is at the root of our global financial crisis. Like a young boy who works hard because he wants a new bike, we would also be better off if we did not feel entitled. If you want a new TV, then work for it until you have the money. Don’t buy it on credit and plan to pay it off. You will appreciate your acquisition all the more because it was bought with your hard work. You have earned it.

There is something wrong when we must step on others to acquire earthly wealth. Those who are truly successful are those who have earned their wealth, not acquired it through dishonest methods. These men are those who are actually respected, not feared, by their subordinates. They treat fellow humans, from the lowest of the low to the highest of the high, with equal respect and devotion. In the long run, they retain their wealth because they have garnered loyal employees and friends, not men who cling to them out of fear and desperation.

We are also faced with the problem that, many times, the procurement of material wealth involves the forfeit of spiritual wealth. Far from being divorced, material wealth and spiritual wealth should be in harmony. We should use our material wealth to enhance our spiritual wealth. Time should always be devoted to prayer and reflection, performing charitable acts, and participating in the Holy Sacrifice of the Mass. A man of true wealth should never have to say that “I do not have time to attend Mass.” If this is true, they have allowed their pursuit of material possessions to dominate their lives. This is a very dangerous thing to do.

The global financial crisis was a preventable incident. One can quibble about matters such as government interference, but the situation is far more simple. It comes down to how we, as a human race, treat each other. Government interference matters little if the men in government and business are corrupt and refuse to protect the dignity and well-being of their fellow humans because they are far too entangled in their own pursuit of what they call “wealth.” Perhaps if we, as a single and unified human people, worked to protect the basic and inalienable rights granted to each and every person, we would find that every aspect of our lives, from economic to political, would be more orderly and just.