Is the Prosperity Gospel Financial Heresy?
Mr. ToughMoneyLove tends to avoid mixing religion and personal finance for a variety of reasons. However, I am going to make a very brief exception to that policy this Sunday.
This week Time ran a story on the possible role of the “prosperity gospel” in the sub-prime mortgage mess that has played a significant role in the current economic crisis. I certainly don’t agree with the premise that God should be blamed for what has happened. But the article makes an interesting anecdotal review of how believers in the prosperity gospel could be led to accept that divine intervention would prevail over their lack of financial resources. According to the prosperity preacher, that belief is enough to put the believer in a home he or she cannot afford. I think we can all agree that there is no logic to that belief. On the other hand, religion is based on faith, not logic.
I submit that are two hard truth takeaways from this story. First, the “prosperity gospel” is really intended to bring economic prosperity to those who preach it, not to those who listen to it. Second, an all too common rationalization offered by broke people when they make yet another discretionary purchase is that they “deserve” that car or gadget or vacation. The prosperity gospel reinforces that misguided rationalization and gives it another dimension. Just as I believe that poor people are not being punished by God, I also believe that wealth on earth is not bestowed based on spiritual merit.
What do you think about the prosperity gospel as a contributor to current economic conditions?