wealth

Adam Copeland 02-16-2016

Image via /Shutterstock.com

My wife and I are beginning to start the process of buying a house for the first time. For better or for worse, we have become regular viewers of HGTV’s line of television shows that target would-be home consumers just like us. There’s Fixer UpperFlip or FlopProperty BrothersLove It or List It, and…boy, could I go on. On the one hand these shows give us an interesting entree into what’s possible when it comes to buying and renovating a house. They may expand our vision so we don’t get stuck on things like existing wallpaper, old carpet, or hideous paint color. But, as I’ve come to understand the (very predictable) arc of these shows, I’m also struck by their danger. They’re basically “Keeping Up with the Joneses” on steroids.

the Web Editors 12-22-2015

Image via Twitter.

Australian artist Toby Morris’ comic “On a Plate” illustrates how privilege works — and why people who benefit from it can’t see it.

By following two individuals’ life paths set side-by-side, Morris shows how someone’s privilege — or lack thereof — can lead to totally different outcomes.

Leocadie Lushombo 08-07-2015
Congo

giulio napolitano / Shutterstock

THE DEMOCRATIC REPUBLIC of Congo is one of the world’s poorest countries. In 2014, Congo ranked 186 out of 187 on the United Nations’ human development index—vying with Niger for the bottom of the list.

Yet Congo is extremely rich in soil, water, forests, and minerals. Diamonds, copper, gold, oil, uranium, and coltan are all mined, purchased, and traded from the DRC.    

Coltan is the ore used in electronic devices. The so call “war of coltan” in the mineral-rich eastern Congo has left millions dead and more than a million women raped. Transnational corporations are able to exert extreme pressure on Congo’s weak government and economy. As a result, the country’s natural resources have become an important factor in increasing poverty and violence rather than wealth and development.

The Catholic bishops in Congo (about half of the country’s population is Catholic) repeatedly have denounced three specific kinds of evil: a climate favoring genocide, outbreaks of religious fundamentalism, and a push toward Balkanization.

Sébastien Muyengo, author of In the Land of Gold and Blood, is the Catholic bishop of Uvira in eastern Congo. As a result of the mineral wars, he writes, the country’s poverty has become a mental, human, and structural poverty, rather than predominantly material. Yet Congo has resources the rest of the world wants.

Tom Ehrich 10-29-2014

“God Bless America,” written in sand with an American flag.Photo courtesy of Maria Dryfhout via Shutterstock/RNS.

Right-wing Christians and the politicians who pander to them like to say that the United States was, is and always should be a “Christian nation.”

Why, then, are they so obsessed about money and political power and so determined to make people afraid?

After all, Jesus spent an estimated two-thirds of his teaching time on wealth and power. His message was clear, if radical: Give wealth away rather than build bigger barns. Submit to others rather than seek power. Love your enemies rather than smite them.

Moreover, his one new commandment was equally clear: Don’t be afraid. Live without fear. Live in trust and confidence. Live in harmony. Make peace. But whatever happens, don’t be afraid.

Instead of preaching a gospel of self-sacrifice and generosity, right-wing Christians support the mega-wealthy who yearn to stifle democracy and move us further toward plutocracy: Keep the riffraff from voting. Keep alternative views out. Live in the bubble of like-minded people, not the marketplace of ideas and diversity where Jesus lived.

Ron Sider 07-11-2014
Sean Locke Photography & Svetlana Lukienko/Shutterstock.com

Sean Locke Photography & Svetlana Lukienko/Shutterstock.com

While there are no biblical texts speaking directly to the issue of money in politics, biblical principles are still relevant, and people of faith have an important role to play in the emerging debate about the future of our democracy. Before exploring those principles, however, it is important to understand the serious issues of inequality currently present in our system, and the correlation between inequality and the money flooding our political system.

The richest 1 percent own more of the nation’s wealth than the bottom 90 percent. The richest one-tenth of one percent have as much pre-tax income as the bottom 120 million Americans.

In Affluence and Influence, political scientist Martin Gilens concludes that, “The preferences of the vast majority of Americans appear to have essentially no impact on which politics the government does or does not adapt.” He details the data throughout his book that clearly demonstrates policy makers are only listening to the wealthy donor class. This situation has been made even worse by the Supreme Court’sCitizens United in 2010, which allowed a huge influx of money to flood our political system after declaring the personhood of corporations. 

The Court’s more recent decision in McCutcheon v FEC made matters even worse. Before McCutcheon, one person was able to contribute up to $123,000 to political candidates and parties. In striking down this aggregate limit, the Court paved the way for individuals to contribute more than $3.5 million directly to candidates and party committees. In a report detailing the potential impact of McCutcheon, Demos predicts the decision could result in more than $1 billion in additional campaign contributions by 2020.

Tom Ehrich 05-13-2014

Tom Ehrich is a writer, church consultant and Episcopal priest based in New York. Photo courtesy of Tom Ehrich/RNS

In a marketplace unfettered by ethical restraint, a sense of duty, concern for others, or even basic shame, 25 hedge fund managers gave themselves a 50 percent pay boost in 2013.

Never mind that hedge funds’ performance, on average, tanked for the fifth consecutive year.

These 25 men wanted big bucks, so they took them: a total of $21 billion. All for managing wealth that someone else created and, except for a few, not managing it particularly well.

The top earner paid himself $3.5 billion for 2013.

Chuck Collins 01-31-2014

The movement for a fair minimum wage is bubbling up all over.

Rosa Lee Harden 01-30-2014

Jesus was quite clear that our allegiance was to be with the POOR, not the barons of Wall Street.

God's laws are immutable Gravity. Aging. Those sorts of things. We cannot change them. But we DO know that mere humans MADE UP the laws of the market economy and we don't have to follow its rules. We can choose to, but it’s a choice.

The rules that run our capitalistic system were invented by us. And we really do not have to play by those rules.

Christian Piatt 01-22-2014
Rich man drinking wine, ollyy / Shutterstock.com

Rich man drinking wine, ollyy / Shutterstock.com

A recent report by OXFAM offered some sobering data about both the concentration and flow of wealth in the world today. A few key points, also summarized by a new business article on The Atlantic website , include:

  • The richest 85 people in the world control as much wealth as the poorest 3,000,000,000 people;
  • Nineteen out of 20 “G20” countries are experiencing growing income inequality between rich and poor;
  • In the United States in particular, 95 percent of the post-financial-crisis capital growth has been amassed by the richest 1 percent of Americans;
  • While domestic income inequality continues to grow, the income tax rates for wealthiest Americans have steadily dropped.

My first reaction to seemingly immoral concentrations of wealth, and the systems that enable it, is anger and a compulsion to call them out, to change them and to distribute the world’s treasures evenly among all of God’s people.

But what if we need the insanely wealthy to realize a kingdom-inspired vision for our world?

Martin L. Smith 08-15-2013

Reflections on the Revised Common Lectionary, Cycle C

Claire Shalinsky 05-10-2013
Courtesy Warner Bros. Pictures

Leonardo DiCaprio as Jay Gatsby in 'The Great Gatsby.' Courtesy Warner Bros. Pictures

The Great Gatsby doesn’t exactly fit the mold for a story about poverty. It doesn’t play into the typical genre created by Dickens or Sinclair meant to incite social change by depicting feeble orphans or working-class suffering. Gatsby is a story of excess: of tall buildings, big parties, fancy clothes, shiny cars—all that 1920s glam and glitz.

And yet — distilled to its core, The Great Gatsby is a story of poorness from the lens of richness, a rags-to-riches story where we only get to see the riches. Though high school English classes across the country paint Jay Gatsby as the poster child for the American dream and its subsequent loss, The Great Gatsby gets its poignancy not from what is lost but rather what lingers — Gatsby’s offstage childhood poverty that not even money can erase. For underneath Jay Gatsby’s million-dollar façade is James Gatz, a college-dropout, janitor-turned-swindler “young roughneck” from a poor family. 

Catherine Woodiwiss 03-07-2013

This week's viral video is a must-see. The six-minute "Wealth Inequality in America," released Friday, presents the shocking, true size of the wealth gap in the country.

In a series of animated infographics, the video lends a visual punch to numbers that are hard to wrap one’s head around. The top 1 percent of Americans hold 50 percent of all investments in stocks and bonds, for example – while 80 percent of Americans share a paltry 7 percent of the nation’s wealth.

An advocate for public education argues that trying to make schools "race to the top" while ignoring the role of poverty and school inequality can't bring the systematic change children need.

Jonathan Kozol, author of Fire in the Ashes, talks about the gripping stories of poor children, the problems of “obsessive testing,” and how to build a school system worthy of a real democracy. An interview by Elaina Ramsey.

Gar Alperovitz 08-01-2012

Want some economic good news? Credit unions, employee-owned business, public banks—the "new economy" is breaking out all over.

Timothy King 12-24-2011
Illustration from Dickens' "Christmas Carol." Photo by Tim King.

Illustration from Dickens' "Christmas Carol." Photo by Tim King.

Scrooge calls Christmas a “humbug.”

When his nephew tries to convince him otherwise, Scrooge responds:

“Merry Christmas! What right have you to be merry? What reason have you to be merry? You’re poor enough.”

The nephew retorts:

“What right have you to be dismal? What reason have you to be morose? You’re rich enough.”

The nephew concludes with this famous line about the holiday:

“Therefore, uncle, though it has never put a scrap of gold or silver in my pocket, I believe that it has done me good, and will do me good; and I say God bless it!”

Jack Palmer 11-01-2011

This morning, as I caught up on what had been going on in the world over the weekend, I stumbled across a very interesting resource -- a website that compares the frequency with which words appear in the Bible and the Quran.

Although that in itself is an interesting tool, I was less interested in the comparison feature and more interested to see how often certain words appear in the Bible.holeybiblescreenshot

Shane Claiborne 10-27-2011

On Nov. 5 folks all over the world will divest from Wall Street and its banks … in order to invest in a better world.

Ideologies alone are not enough. There came a point in the movement to abolish slavery where ideology required responsibility. As one abolitionist said, “The only way to be a good slave-owner is to refuse to be a slave-owner.” To truly be against slavery also meant that you didn’t drink sugar in your tea, because sugar was produced with slave labor.

So on November 5, my wife and I will be joining the “Move Your Money” celebration, moving our money from Bank of America to the non-profit credit union here in Philadelphia.

It is one small step away from the vicious cycle that continues to see money transfer from the increasingly poor to the increasingly rich.

It is trying to take to heart Jesus’ command to “Get the log out” of my own eye.

It is a move towards Gandhi’s call to “Be the change you want to see in the world.”

It’s one little step towards being less of a hypocrite tomorrow than I am today.

Jack Palmer 10-05-2011

Visit msnbc.com for breaking news, world news, and news about the economy

Where is the compassion in our economy and our politics? It says much of the economic system that Sojourners even needs to campaign for a "moral budget." How do we, as Christians, challenge structures that allow billions of dollars to be wasted via tax loopholes while 1 in 6 Americans live in poverty?

Will we, as Sachs hopes,

the Web Editors 10-04-2011

396px-Wall-Street-1

From the official statement by #OccupyWallStreet: "As one people, united, we acknowledge the reality: that the future of the human race requires the cooperation of its members; that our system must protect our rights, and upon corruption of that system, it is up to the individuals to protect their own rights, and those of their neighbors; that a democratic government derives its just power from the people, but corporations do not seek consent to extract wealth from the people and the Earth; and that no true democracy is attainable when the process is determined by economic power."

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