A fundamental shaking of confidence and trust in the stock market and capitalism is occurring throughout the world. Investors are cashing out. World leaders, foes and even friends, are questioning whether or not capitalism and a free market are the models to imitate for their nation’s economic system.
We need to go back to biblical principles for handling wealth to distinguish what is fundamentally good and sound from what is evil and excessive. We need our best and most righteous minds to help us. That is you all.
In his book, Righteous by Faith Alone, page 36, Rev. Herman Hoeksema, told his congregation at the time of the Great Depression: “The lust of money is that we press it into the service of unrighteousness. That is why we have a depression.” That is the deepest root of the problems, but we need more advice than just the conclusion that we should not lust for money. Rev. Hoeksema’s purpose was to provide sermons on the Book of Romans, and although he makes a good point in passing that we can and should apply to our current economic problems, we need more.
You have heard of the slogan: “What would Jesus do?” To help us answer that question, let us ask: “What would Calvin do?” and “What does Scripture tell us to do?”.
David W. Hall wrote an interesting series of articles titled “Calvin and Wealth”. Here is a link to the series – Click here: Calvin and Wealth « The Calvin 500 Blog This link will display the first three Parts. You can click “Next Entries” to get to Parts 4 to 7.
In Part 1, he states: “The Swiss reformer John Calvin knew that God was more important than material wealth, and Calvin’s advice can serve to steer investors and stewards in any century away from a chilling materialism. Money is—and ever will be—a creation; as such it should not be worshiped, over-emphasized, or ignored. Like the creation itself, it has a place and is useful. But outside of that designed space, it can become an idol. Calvin was clear that Mammon was not to be served. In his commentary on Matthew 6:24, he stated the dilemma well: “[W]here riches hold the dominion of the heart, God has lost his authority. True, it is not impossible that those who are rich shall serve God; but whoever gives himself up as a slave to riches must abandon the service of God; for covetousness makes us slaves of the devil.”
In Part 2, he states: “Rather, the historical record is clear: where Calvinism became thoroughly rooted, citizens saw economic growth. With the delicate combination of enhanced freedom and with opening economies, Calvin’s prosperity ethic would outlive him.”
One Scripture comes to mind now: Proverbs 21:5 : “The plans of the diligent lead surely to advantage, But everyone who is hasty comes surely to poverty.
Certain lenders were “too hasty” to make risky loans. Certain investment bankers were “too hasty” to buy questionable mortgage-backed securities. Their corporations and investors “came surely to poverty” (although the CEOs may have at least temporarily escaped with their golden parachutes).
But, in contrast to the “hasty”, there will also be those people like John Templeton who made diligent financial plans and gained a financial advantage. According to Wikepedia, Templeton “is noted for buying 100 shares of each company trading for less than $1 a share in 1939 and making many times the money back in a 4 year period. … Templeton attributed much of his success to his ability to maintain an elevated mood, avoid anxiety and stay disciplined. Uninterested in consumerism, he drove his own car, never flew first class and lived year-round in his peaceful ocean-side home in the Bahamas. Templeton became known for his “avoiding the herd” and “buy when there’s blood in the streets” philosophy. He also was known for taking profits when values and expectations were high.” Click here: John Templeton – Wikipedia, the free encyclopedia We should not emulate every part of Templeton’s life. We should particularly avoid his spiritual beliefs, particularly in his later years. But, we can appreciate him as an example of the plans of the diligent that surely leads to advantage.
So, is our goal to make diligent personal financial plans to benefit our family, or is our goal to propose diligent national economic plans to benefit our country? Let us work toward both goals. The following Scripture commends both goals.
Scripture commends: “The one who had received the five talents came up and brought five more talents, saying, ‘Master, you entrusted five talents to me. See, I have gained five more talents.’ “His master said to him, ‘Well done, good and faithful slave You were faithful with a few things, I will put you in charge of many things; enter into the joy of your master.'” Matthew 25:20-21.
Scripture also commends the industrious, excellent wife: “Give her the product of her hands, And let her works praise her in the gates.” Proverbs 31:31.
But, Scripture also commends doing good toward our rulers: “… Do what is good and you will have praise from the same; for it is a minister of God to you for good. …” Romans 13:3-4.
Consider Joseph and Daniel who were used by God to be leaders in even a foreign country and to bring peace and prosperity to the “evil empires” of Egypt and Babylon. This peace and prosperity helped Israel in bondage lead quiet lives. How much more should we assist our own country have peace and prosperity!
“First of all, then, I urge that entreaties and prayers, petitions and thanksgivings, be made on behalf of all men, for kings and all who are in authority, so that we may lead a tranquil and quiet life in all godliness and dignity. This is good and acceptable in the sight of God our Savior, who desires all men to be saved and to come to the knowledge of the truth.” I Timothy 2:1-4.
So, what is the purpose of this peace and prosperity? The purpose of this peace and prosperity is not that we satisfy the lusts of the flesh. But, rather, the purpose of this peace and prosperity is that we may be able to lead “a tranquil and quiet life in all godliness and dignity” with the ultimate goal that we may “be saved and to come to the knowledge of the truth.”
In conclusion, I encourage those of you readers who God has called to be a Joseph or a Daniel or wise slave or an excellent wife or even a Templeton. Teach us the biblical principles for handling wealth to distinguish what is fundamentally good and sound from what is evil and excessive. Bring peace and prosperity to your family. Bring peace and prosperity to your country. So, that we all may be able to lead “a tranquil and quiet life in all godliness and dignity” with the ultimate goal that we may “be saved and to come to the knowledge of the truth.”
Reformed Doctrine Daily Devotions 