Sunday, March 6, 2016

Genius of Money Chapter 1: Tribute Paid: At the Intersection of Spirit and Money

“The realms of spirit and religion, engaged as they are with the non-material world, nevertheless must find a way to work in a world that trades in money” (John Bloom). There has always been a duality between money and religion where religious followers are told to not be greedy and let go of material possession. Bloom argues that a third realm exists where both money and spirituality intertwined.

Using examples from the Bible and Stafford, Bloom says though taxes and interest rates are needed to share the costs of well-being the government provides (i.e. Medicare, Social Security, Public goods), religious institutions are exempt from these monetary policies. Jesus endorses taxes when a tax collector asks Peter for money, but tells him to instead pay the man with a fish, which will have a coin inside. On another occasion when approached by a tax collector himself, Jesus refuses to pay taxes because the coin is inscribed with Caesar’s name. Therefore, tax collectors should only collect what belongs to the state and what belongs to god, the state is not entitled to.

We agree that both money and spirituality are not mutually exclusive, but must work alongside one another for the well-being of individuals. If taxes are too high with not enough benefits, it affects our ability to give more because we don’t have that much to give.  If we do not have enough taxes, government projects will not operate sufficiently. Though taxes should also not be imposed on religious institutions since making profits is viewed as greed, money generated from government taxes should be donated to said institutions so that they may operate. 

12 comments:

  1. Interesting perspective on the relationship between state and church, it is especially relevant given a lot of politicians stances on this matter in the current election.

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  2. Interesting! Yes, government needs tax to provide goods and services its citizens, wants and demands. However, there is limit how much government can tax its citizens. Religious institution is one of them. Government cannot tax religious institutions because they exists to serve the people, not to make profit.

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  3. I have always been fascinated by the connection between religion/spirituality and finance. It is an interesting and multifaceted relationship. I am curious to learn more about this "third realm." It is important for religious institutions to serve the people and eschew profit-seeking, but when some institutions have accumulated massive wealth while people suffer...

    Great summary.

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  4. This was a really interesting perspective. I never really saw that big of a connection between religion and finance but I agree that they need to work together to build a good economy.

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  5. Very interesting incorporating the bible into this. Never really knew that the monetary system and a belief system could be intertwined!

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  6. Very interesting incorporating the bible into this. Never really knew that the monetary system and a belief system could be intertwined!

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  7. This book is very interesting in that Bloom is not afraid to bring in Biblical references to make his points. I think that at times, for some readers, he is really pushing the envelope.

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  8. Wow, I thought my chapter was the only one to refer to the Bible, but I guess Bloom really like religious references in the context of money.

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  9. Very interesting how one can think of both money and religion, such different things as closely as he does.

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  10. I find it is kind of ironic that religion implores individuals to not be greedy and to not desire material possessions, yet the gap between the wealthy and poor within the United States is arguably the greatest its ever been.

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  11. I found the integration of the Bible and religion into money a unique approach. I think it is interesting that it discusses the connection between money and spirituality and how the two are not separate entities, but rather interconnected.

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  12. This also leads to an interesting debate about the role of church (or religion in general) and state. It's unique approach is really interesting

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