October 24th, 2008
Props to Kevin Schmiesing at the Acton Institute for his post demonstrating the moral dimensions of the financial crises:
Economists have long deplored the poor savings rate in the United States, arguing that our ever-increasing debt load (national and personal) would eventually come back to haunt us. British intellectual Peter Heslam points out that this problem is essentially moral, a failure to value the traditional virtue of thrift.
He writes: Hebrew and Christian scriptures support a theology of thrift. Literally, thrift means ‘prosperity’ or ‘well-being’, meanings encompassed in the Hebrew notion of shalom, which is central to the biblical theme of redemption. True, Jesus warned against laying up treasure on earth. But his warning is against greed and miserliness, which undermine thrift.
The incredible amount of fear and blind trust in government during this time are two other emotional/spiritual areas that I hope to explore soon…