Money Money Money Money! Oh, and Religion.
The Washington Post's "On Faith" site today features an online panel discussion on morality and finance. The questions before the panel: "Are the economy's recent financial failures also moral failures? Are credit and debt religious issues? Do you have faith in the economy?"
As usual, there are no Buddhists on the "On Faith" panel. They do have Deepak Chopra, standing in as the Generic Eastern Religion Guy. But Dr. Chopra places his comments within the framework of sin and monotheism instead of vedanta, so "On Faith" still has no eastern religion perspective.
I think that a clerical panel discussion of greed that leaves out a Buddhist perspective is like an encyclopedia of cooking that leaves out French cuisine. But let's go on ...
Of the remaining panelists, I particularly liked the comments by Rabbi Irwin Kula. He discusses the ideological craze of "faith" in free markets and comments, "let's stop having faith in the economy and begin to have faith in each other." Starhawk, a Wiccan, brings up the interconnection of all things. I recommend also the comments by the Rev. Susan Brooks Thistlethwaite of the United Church of Christ.
I think the three questions posed are great questions that deserve reflection. To the third question -- "Do you have faith in the economy?" -- my original reaction was "bleep no!" But that word faith can be tricky. I suppose what I have is an assumption that the basic parameters of the economy -- that I can use money to buy stuff, for example, or that I can stay in my home as long as I pay the mortgage -- will continue. Other than that, call me skeptical.
The other two questions are, Are the economy's recent financial failures also moral failures? Are credit and debt religious issues? From a Buddhist perspective, the financial crisis clearly is the fruit of something akusala up the wazoo. Although the sutras don't discuss the risks of balloon mortgages or an undiversified stock portfolio, they do speak favorably of paying off debts.
Thoughts?
Comments
The question was, I believe, is financial failures also moral failures?
I am not sure of the affect that was mean here…are we asking…is Machiavellianism another name for laissez-faire capitalism…maybe you are asking is self-respect of most people based on monetary standards…last, I suppose the focus could be on the concept of dignity as “Dignity” used to refer to the self-mastery and fortitude with which a person conducted himself in the face of life’s issues and the boorish behavior of others.
Now, judging by today’s demands that everything must be perfect, dignity requires that we never encounter a discouraging word and that others be coerced into acting respectfully, evidently on the assumption that we are powerless to prevent our degradation if exposed to the demeaning behavior of others. Of course then as these are the signposts proclaiming the insubstantiality of our character, the hollowness of our souls; and thus, as we have a great need to fill our souls as they are hollow maybe you are referring to the material things some of us buy in order to give us dignity.
The question I had is whether risky financial speculation is a moral issue, and I believe it is.
In Buddhism, the issue of pursuing possessions to achieve “dignity” or happiness has been way settled for about 25 centuries.