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Kindly Note: This presentation is solely intended to be general information that might be

Kindly Note: This presentation is solely intended to be general information that might be beneficial to stewards of all types. Please do not consider it to be counsel that you should act upon without researching in-depth and/or consulting your various financial, legal or spiritual advisors. “Affinity marketers, ” particularly in the religious communities, have too often hurt our faith and investors. We hope to help change that. But be prudent. While “the workman is worthy of his wages, ” be particularly careful if you sense the presenter is more interested in your business than the ethic of the Abrahamic 5

banker, Director wrote: Dr. David Miller, former investment author of God at Work and

banker, Director wrote: Dr. David Miller, former investment author of God at Work and current of the Princeton University Faith & Work Initiative reviewed this seminar and “Remember the old brokerage firm ad, ‘When E. F. Hutton talks, people listen’? Today’s version should be, ‘When Gary Moore talks, concerned Americans should listen. ’ Moore’s insights into financial planning with ethical and spiritual integrity should be mandatory study in 6

“With gratitude to The Financial Seminary, the Interfaith Center for Corporate Responsibility has used

“With gratitude to The Financial Seminary, the Interfaith Center for Corporate Responsibility has used the material presented in a wide variety of member programs and welcomes the opportunity to at long last have the entire presentation to share with their members and friends in congregations throughout the United States. ” Laura Berry Executive Director ICCR 7

This is an advanced seminar that seeks to prompt a deeper, more enriching way

This is an advanced seminar that seeks to prompt a deeper, more enriching way of thinking and seeing our world, and then acting upon that perspective, which is largely what religion is when it comes to economics. So we suggest you simply relax and listen to your presenter, take the handouts home to study, and perhaps go online to www. financialseminary. org to review the presentation, including the presenter’s comments. 8

Financial Fusion: Re-Integrating Faith & Wealth Management Copyright @ Financial Seminary 2010 9

Financial Fusion: Re-Integrating Faith & Wealth Management Copyright @ Financial Seminary 2010 9

This seminar was created by Gary Moore. He has a degree in political science

This seminar was created by Gary Moore. He has a degree in political science and was a senior vice president of investments with a major Wall Street investment firm during the late ’ 80’s before founding The Financial Seminary. He has served on the boards of the John Templeton Foundation, Opportunity International, The Crystal Cathedral, Messiah College and Empower America, as well as his local YMCA, Samaritan Ministries and church. He has 10 been a commentator for UPI. You will immediately

Yet, despite the claims of “prosperity theology” and “name it and claim it religion,

Yet, despite the claims of “prosperity theology” and “name it and claim it religion, ” nothing Gary has learned the past twenty-five years has challenged the old wisdom regarding wealth and the eye of the needle. John Wesley, the founder of Methodism, taught that the thrift and work ethic of the Puritan approach to Christianity would inevitably enrich a nation; but that wealth would likely destroy the morality that created it. The recent experiences of our nation should make us wonder if Wesley might have had a point. So it is Gary’s hope that this seminar might simply help a few dedicated souls to make a most difficult journey, one that Christ said is “impossible for man but possible with God. ” 11

Gary grew up in a devout but poor home. As he grew older and

Gary grew up in a devout but poor home. As he grew older and prospered, he increasingly experienced the tensions between faith and wealth. He also saw how that was affecting him and his friends, both mentally and spiritually. He thought of attending seminary but discovered they didn’t deal with these issues any longer. He also found the church to be of little help. Yet he did find two “modern prophets, ” 12

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“Religious views are important to whatever anyone does--investing, writing articles, anything. How you see

“Religious views are important to whatever anyone does--investing, writing articles, anything. How you see yourself in relation to others and your Creator, why, it’s the most important thing that there is because you think most clearly only if you’re at peace with yourself and your Creator. ” Sir John Templeton 15

“This extraordinary man believes that successful investing is a product of a person’s overall

“This extraordinary man believes that successful investing is a product of a person’s overall relationship to life, to the universe. Unlike most of us, Templeton is at peace with himself. He has sorted things out. He believes that God created and is creating the universe. This gives Templeton extra mental energy to make and stand by his decisions. ” Forbes 16

“The individual needs the return to spiritual virtues, for he can survive in the

“The individual needs the return to spiritual virtues, for he can survive in the present human situation by reaffirming that man is not just a biological and psychological being but also a spiritual being, that is creature, and existing for the purposes of his Creator and subject to him. ” Peter Drucker Landmarks of Tomorrow 17

“Peter Drucker’s ability to prophesy-almost always correctly--was uncanny. ” Steve Forbes The Wall Street

“Peter Drucker’s ability to prophesy-almost always correctly--was uncanny. ” Steve Forbes The Wall Street Journal 18

Q#1: Do other thoughtful people and history agree we should, even could, go back

Q#1: Do other thoughtful people and history agree we should, even could, go back to the future? 19

A#1: Definitely! “One cannot understand current political or ethical trends, or properly forecast future

A#1: Definitely! “One cannot understand current political or ethical trends, or properly forecast future economic developments, without understanding the cycles in religious feelings in American history. ” Robert Fogel, Ph. D. Nobel Laureate in Economics & Religious Skeptic The Fourth Great Awakening 20

“Rather than denigrating Christianity and religion in general, socially conscious elites ought to be

“Rather than denigrating Christianity and religion in general, socially conscious elites ought to be asking what the religious impulse can teach us. ” Robert L. Bartley Editor Emeritus The Wall Street Journal 21

“If we do not manage our affairs both spiritually and socially in a responsible

“If we do not manage our affairs both spiritually and socially in a responsible manner, we will inevitably come to regret it later. ” The Dalai Lama 22

“I wish that on every bedside table, next to the Bible, there was an

“I wish that on every bedside table, next to the Bible, there was an article explaining the nature of investing, because people are still either too confused, intimidated or busy to know what to do. ” Peter Lynch Former Manager Fidelity Magellan Fund 23

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“It is embarrassing to live in the most comfortable time in the history of

“It is embarrassing to live in the most comfortable time in the history of man and not be happy. Auden called his era the age of anxiety. I think what was at the heart of the dread in those days, just a few years into modern times, was that we could tell we were beginning to lose God. And it is a terrible thing when people lose God. Life is difficult and people are afraid, and to be without God is to lose man’s great source of consolation and coherence. I don’t think it is unconnected to the boomers’ predicament that as a country we were losing God just as they were being born. ” Peggy Noonan Life, Liberty and the Pursuit of Happiness 25

“The people who created this country built a moral structure around money. The Puritan

“The people who created this country built a moral structure around money. The Puritan legacy inhibited luxury and self-indulgence. For centuries, it remained industrious, ambitious and frugal. Over the past thirty years, much of that has been shredded… The country’s moral guardians are forever looking out for decadence out of Hollywood and reality TV. But the most rampant decadence today is financial decadence, the trampling of decent norms about how to use and harness money. ” by ohn B Introduction to Enough By John Bogle Founder, The Vanguard 26

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“The idea that economic crises, like the current financial and housing crisis, are mainly

“The idea that economic crises, like the current financial and housing crisis, are mainly caused by changing thought patterns goes against standard economic thinking. But the current crisis bears witness to the role of such changes in thinking. It was caused precisely by our changing confidence, temptations, envy, resentment, and illusions—and especially by changing stories about the nature of the economy. ” Animal Spirits 28

The Credit Crisis & Great Recession “The word credit derives from the Latin credo,

The Credit Crisis & Great Recession “The word credit derives from the Latin credo, meaning ‘I believe. ’” Animal Spirits By Ackerloff & Schiller 29

A#2: And history suggests we can! “The business cycle is a psychological phenomenon. Only

A#2: And history suggests we can! “The business cycle is a psychological phenomenon. Only when the memory of hard times has dimmed can confidence fully establish itself; only when confidence has led to outrageous excess can it be checked. It was as difficult for Mr. Hoover to stop the psychological pendulum on the downswing as it had been for the Reserve Board to stop it on the upswing. ” Depression Fredrick Lewis Allen Editor of Harper’s Magazine Explaining the Great 30

“The 1929 breakdown was at its roots, a moral breakdown. We were not living

“The 1929 breakdown was at its roots, a moral breakdown. We were not living right. We had become extravagant. We had become intoxicated by the alluring notion that the royal road to riches did not lie through sweat but speculation. We discarded and scorned old-fashioned B. C. virtues. ” Forbes Founder, Forbes Magazine 31

“The sins of Big Business and High Finance were responsible for the over-whelming voting

“The sins of Big Business and High Finance were responsible for the over-whelming voting of the New Deal into power. Therefore, any and every act calculated to bring business into disrepute is infinitely regrettable. ” Forbes Magazine July 1, 1944 32

“In the latest USA TODAY/Gallup Poll, Americans are fed up with Washington and convinced

“In the latest USA TODAY/Gallup Poll, Americans are fed up with Washington and convinced by more than 3 to 1 that the nation is heading in the wrong direction. ” USA Today February 16, 2010 33

Miserable +13% Source: The Economist 34

Miserable +13% Source: The Economist 34

“The wealth of a nation is not to be found by asking a statistically

“The wealth of a nation is not to be found by asking a statistically significant, random sample of people to have a stab at it. What people think, still less what they say, is not a good guide to the way the world is. People don’t know. ” The Economist 35

Angry 36

Angry 36

Source: The Economist 37

Source: The Economist 37

WSJ, September 15, 2010 38

WSJ, September 15, 2010 38

“The problem with the tax debate is not that Democrats and Republicans disagree, but

“The problem with the tax debate is not that Democrats and Republicans disagree, but that they mostly agree. Democrats think 98% of Americans should not pay higher taxes; the Republicans say 100% should not. Taxes this year will come to less than 15% of GDP, the lowest share since 1950… Raising taxes on the rich would lift the ratio to only 20%. That is nowhere near enough to pay for federal spending, estimated at 24% of GDP in 39

Source: Perotcharts. com 40

Source: Perotcharts. com 40

And Depressed 41

And Depressed 41

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“It’s very interesting to me that the spread of communications has increased the misery

“It’s very interesting to me that the spread of communications has increased the misery of people…we’re flooded with bad news. And this bad news is making people depressed at a time when prosperity is at its greatest ever. ” Sir John M. Templeton 43

“There has always been something in human nature which makes you buy a newspaper

“There has always been something in human nature which makes you buy a newspaper which has the most horrible headline. Therefore, to be successful in the publishing or television business, you have to feed the public these catastrophes or the negative viewpoint. Therefore the public is brainwashed. ” Sir John Templeton 44

“The agenda of the world-the issues and items that fill our newspapers and newscasts-is

“The agenda of the world-the issues and items that fill our newspapers and newscasts-is an agenda of fear and power. A huge network of anxious questions surrounds us and begins to guide many, if not most, of our daily decisions. Clearly those who pose these questions which bind us have true power over us. Jesus seldom accepted the questions posed to him. He exposed them as coming from the house of fear. They did not belong in the house of God. ” Henri 45

“Politicians earn much of their living by exploiting anxieties, encouraging people to feel worse

“Politicians earn much of their living by exploiting anxieties, encouraging people to feel worse than they should about the state of their country. ” The Economist 46

“The whole aim of practical politics is to keep the populace alarmed—and hence clamorous

“The whole aim of practical politics is to keep the populace alarmed—and hence clamorous to be led to safety—by menacing it with an endless series of hobgloblins, all of them imaginary. ” H. L. Mencken 47

“Few men have virtue to withstand the highest bidder. ” George Washington 48

“Few men have virtue to withstand the highest bidder. ” George Washington 48

Proving some things are indeed eternal, a prominent politician has said: “Our government in

Proving some things are indeed eternal, a prominent politician has said: “Our government in Washington now is a horrible bureaucratic mess. It is disorganized, wasteful, has no purpose, and its policies—when they exist—are incomprehensible or devised by special interest groups with little or no regard for the welfare of the average American citizen. The American people believe that we ought to control our government. On the other hand, we’ve seen our government controlling us. ” Governor Jimmy Carter 1976, Dow Jones Apx 800 49

“No matter how serene today may be, tomorrow is always uncertain. Don’t let that

“No matter how serene today may be, tomorrow is always uncertain. Don’t let that reality spook you. Throughout my lifetime, politicians and pundits have constantly moaned about terrifying problems facing America. Yet our citizens now live an astonishing six times better than when I was born. The prophets of doom have overlooked the allimportant factor that is certain: Human potential is far from exhausted and the American system for unleashing that potential remains alive and effective. ” Warren Buffett 50 Letter to shareholders

“The deficit is not a meaningless figure, only a grossly overrated one…Our politicians have

“The deficit is not a meaningless figure, only a grossly overrated one…Our politicians have conjured the deficit into a bogeyman with which to scare themselves. In symbolizing the bankruptcy of our political process, the deficit has become a great national myth with enormous power. But behind the political symbol, we need to understand the economic reality, or lack of it. In the advanced economic literature, the big debate is whether deficits matter at all. ” Robert Bartley Editor The Wall Street Journal Seven Fat Years, 1992 51

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“When Americans look at their economy these days, they are horrified by what they

“When Americans look at their economy these days, they are horrified by what they see, or think they see. Economic paranoia has become an American habit. America worries as it prospers. ” The Economist Sam, The Paranoid Man 54

Extraordinary Popular Delusions & The Madness of Crowds “‘This time is different’ are the

Extraordinary Popular Delusions & The Madness of Crowds “‘This time is different’ are the four most expensive words in the English language. ” Sir John M. Templeton 55

Counting Our Assets, Or Blessings , For A Change www. whitehouse. gov/omb/2010 budge 56

Counting Our Assets, Or Blessings , For A Change www. whitehouse. gov/omb/2010 budge 56

A B C D 57

A B C D 57

America’s Wealth $125. 5 Trillion Gross (A) -7. 2 Trillion Owed (B) =$118. 3

America’s Wealth $125. 5 Trillion Gross (A) -7. 2 Trillion Owed (B) =$118. 3 Trillion Net (C) Source: OMB, White House 58

“The size of the net foreign debt is relatively small compared with the total

“The size of the net foreign debt is relatively small compared with the total stock of U. S. assets (D). In 2007, it amounted to 7% of total assets including education and R&D capital. ” Office of Management & Budget The Bush White House Budget of the U. S. Government Fiscal Year 2009 59

America’s Federal Debt to Assets 12. 00% 10. 00% 8. 00% 6. 00% 4.

America’s Federal Debt to Assets 12. 00% 10. 00% 8. 00% 6. 00% 4. 00% 2. 00% 0. 00% 196 0 197 0 198 0 199 0 200 7 Source: OMB in Bush White 60

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“Every dollar of US international indebtedness is matched by a dollar of assets abroad.

“Every dollar of US international indebtedness is matched by a dollar of assets abroad. ” Professor Jeremy Siegel The Financial Times October 6, 2009 62

College Degrees Source: The Economist 63

College Degrees Source: The Economist 63

Innovation 64 Source: The Economist

Innovation 64 Source: The Economist

“Thanks to the liberating forces of globalization and Googlisation, innovation is no longer the

“Thanks to the liberating forces of globalization and Googlisation, innovation is no longer the preserve of technocratic elites in ivory towers. It is increasingly an open, networked and democratic endeavor. If man really can find a way of harnessing the innovative capacity of 9 billion bright sparks, then the audacious prediction about feeding the much hungrier world of 2110 using less land than today may very well be proven right. After all, man’s greatest asset is his ability to harness that one natural resource that remains infinite in quantity: human ingenuity. ” The Economist May 15, 2010 65

“If the U. S. economy’s long-term economic growth rate increased to 3. 5% from

“If the U. S. economy’s long-term economic growth rate increased to 3. 5% from the 3% rate that has prevailed since 1970, we’d be able to cover all the spending promises we’ve made to ourselves without raising any additional funds through higher taxes or increased borrowing. ” Claremont Review of Books “Paul Ryan’s Roadmap” Summer 2010 66

Yes, the “Great Recession” hurt, but… Source: Federal 67

Yes, the “Great Recession” hurt, but… Source: Federal 67

$1 Billion in Stacked $100 Bills 68

$1 Billion in Stacked $100 Bills 68

$1 Trillion in Double Stacked $100 Bills 69

$1 Trillion in Double Stacked $100 Bills 69

“The national debt peaked at 128 percent of GNP in 1946. ” U. S.

“The national debt peaked at 128 percent of GNP in 1946. ” U. S. Department of Commerce 70

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NATO Defense Spendin g Source: The 72

NATO Defense Spendin g Source: The 72

The Economist March 17, 2001 73

The Economist March 17, 2001 73

Conclusion? “The welfare of a nation can scarcely be inferred from a measurement of

Conclusion? “The welfare of a nation can scarcely be inferred from a measurement of national income. ” Simon Kuznets Creator of the GDP in 1932 74

“The biggest threat to America right now is not government spending, huge deficits, foreign

“The biggest threat to America right now is not government spending, huge deficits, foreign ownership of our debt, world terrorism, two wars, potential epidemics or nuts with nukes. The biggest long-term threat is that people are becoming and have become disheartened, that this condition is reaching critical mass. ” Peggy Noonan The Wall Street Journal November 1, 200975

“The economy isn’t the only reason for our unease. There’s more to it. People

“The economy isn’t the only reason for our unease. There’s more to it. People sense something slipping away, a world receding, not only an economic one but a world of old structures, old ways and assumptions. The moment we are living now is a strange one, a disquieting one, a time that seems full of endings. Too bad there’s no pill for that. ” Peggy Noonan Wall Street Journal March 14, 2009 76

Part Two: Religious Challenges to Our Well. Being 77

Part Two: Religious Challenges to Our Well. Being 77

So, if religion is so enriching and most Americans still go to church, how

So, if religion is so enriching and most Americans still go to church, how could religion have played a role in the Great Recession? 78

A # 1: Cultural Religion is More Socially Harmful Than No Religion! 79

A # 1: Cultural Religion is More Socially Harmful Than No Religion! 79

“Economics is more than a matter of interest rates and deficits. Morality is more

“Economics is more than a matter of interest rates and deficits. Morality is more than a matter of stained glass and hymns. Economic success is built on moral foundations. An economy reflects the moral image of its people. ” Jack Kemp 80

“I think that what happened in the nineteenth century was that religious leadership in

“I think that what happened in the nineteenth century was that religious leadership in all religions simply abandoned the field of economic morality to the secular world. Religion thus became irrelevant to many people. We helped create a split personality among the business leaders. They could be pious men, they could go to church or to synagogue or to the mosque, but religion made no demands on them in the marketplace. This separation of personality, I think, is a major tragedy for religion and for the businessman. ” Rabbi Dr. Meir Tamari 81

“Discipline begets abundance, and abundance, unless we take the utmost care, destroys discipline; and

“Discipline begets abundance, and abundance, unless we take the utmost care, destroys discipline; and discipline in the fall pulls down abundance. ” The Monastic Cycle 82

“When the Protestant Reformation did away with monasticism, rejecting what it took to be

“When the Protestant Reformation did away with monasticism, rejecting what it took to be an attempt to gain heaven by works, it also did away with what had long been monasticism’s reminder to the entire church of the need for obedience in economic matters. ” Professor Justo Gonzalez Faith & Wealth 83

“The Protestant Reformation released the great surge of individualism that created the modern West,

“The Protestant Reformation released the great surge of individualism that created the modern West, including what we now call capitalism and democracy. But for the first two centuries, this new dynamo operated inside a still generally accepted body of Christian discipline. Then, in the eighteenth century, this sort of discipline began to break down. Humankind was selfsufficient. ” The Economist 84

“If, after diligent work, his efforts fail, he who has borrowed money should and

“If, after diligent work, his efforts fail, he who has borrowed money should and may say to him from whom he has borrowed it: This year I owe you nothing…If you want to have a share in winning, you must also have a share in losing. The money lenders who do not want to put up with these terms are as pious as robbers and murderers. ” Martin Luther 85

“Do we need any admonition to earn all we can? Close reading of Wesley,

“Do we need any admonition to earn all we can? Close reading of Wesley, however, quickly shows that he was not giving theological rationale for an aggressive acquisitiveness that characterizes much of American society. His sermon is actually a polemic against destructive ways of earning. How income is earned is as integral to Christian stewardship as what is done with the earnings. Wesley warns against earning money by hurting oneself or others or God’s creation. ” Bishop Ken Carder A Wesleyan Perspective on Christian Stewardship 86

“For Christians, lending money at interest was a sin. Usurers, people who lent money

“For Christians, lending money at interest was a sin. Usurers, people who lent money at interest, had been excommunicated by the Third Lateran Council in 1179. Even arguing that usury is not a sin had been condemned as heresy by the Council of Vienna in 1311 -12. Christian usurers had to make restitution to the Church before they could be buried on hallowed ground. ” Professor Niall Ferguson 87

“There is one bit of advice to us by the ancient heathen Greeks, and

“There is one bit of advice to us by the ancient heathen Greeks, and by the Jews of the Old Testament and by the great Christian teachers of the Middle Ages, which the modern economic system has completely disobeyed. All these people told us not to lend money at interest; and lending at interest—what we call investment —is the basis of our whole system…It does not necessarily follow that we are wrong. That is where we need the Christian economist. But I should not have been honest if I had not told you that three great civilizations had agreed in condemning the 88

“In 1639, the elders of the First Church of Boston brought charges against a

“In 1639, the elders of the First Church of Boston brought charges against a Puritan merchant named Robert Keayne for dishonoring the name of God. Soon after, he was tried and found guilty by the Commonwealth as well. Writing his memoirs some sixteen years later, he was still stung by the disgrace of the event. His sin was greed. He had sold his wares at a six percent profit, two percent above the maximum allowed. ” Robert Wuthnow God and Mammon In America 89

“For at least another hundred years we must pretend to ourselves and to everyone

“For at least another hundred years we must pretend to ourselves and to everyone that fair is foul and foul is fair; for foul is useful and fair is not. Avarice and usury and precaution must be our gods for a little while longer still. ” John Maynard Keynes 90

“The way stewardship is practiced in North America often has little to do with

“The way stewardship is practiced in North America often has little to do with the Bible. It stems primarily from the most influential American theologian, Andrew Carnegie. The Christian religion, Carnegie maintained, become pertinent only after production has run its course, money has been made and money has been reinvested. In other words, Carnegie said that Christian faith has to do with charity, and charity does not extend to the questions of economics. ” Professor Doug Meeks God The Economist 91

“The problem of dualism and compartmentalization: This horrible heresy divides reality into the distinct

“The problem of dualism and compartmentalization: This horrible heresy divides reality into the distinct categories of the spiritual verses the physical, the sacred verses the secular, and the eternal verses the temporal. Dietrich Bonhoeffer called this split view of reality the most ‘colossal obstacle’ to genuine faith. This mega-problem of dualism is the chief cause for the reduced, powerless versions of Christianity that are commonplace in far too many Christian communities today. ” David K. Naugle, Ph. D. 92

“Idealism is a principle and tradition in metaphysics that maintains that something ‘ideal’ or

“Idealism is a principle and tradition in metaphysics that maintains that something ‘ideal’ or nonphysical is the primary reality…Idealism underplays the importance of history and historical forces and ignores the way culture is lived and experienced. Further, idealism ignores the way culture is generated, coordinated, and organized. ” James Davison Hunter To Change The World 93

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“Wealth and enterprise have so woven themselves around the message of Jesus that popular

“Wealth and enterprise have so woven themselves around the message of Jesus that popular models of Christianity appear as nothing more than self and greed at the center, with strands of Christian thought at the periphery. ” Ravi Zacharias Jesus Among Other Gods 95

“I believe in God, family and Mc. Donalds. And in the office, that order

“I believe in God, family and Mc. Donalds. And in the office, that order is reversed…If any of my competitors were drowning, I’d stick a hose in their mouth and turn on the water. It is ridiculous to call this an industry. This is not. This is rat eat rat, dog eat dog. I’ll kill ’em, and I’m going to kill ’em before they kill me. You’re talking about the American way--the survival of the fittest. ” Ray Kroc Founder of Mc. Donalds 96

“This framework of separated areas of life is deeply embedded in the Christian Church,

“This framework of separated areas of life is deeply embedded in the Christian Church, in its theology and in the daily life of its people. On Sunday morning or during our devotional or prayer life, we operate in the spiritual realm. The rest of the week, and in our professional lives, we operate in the physical realm and, hence, unwittingly act like functional Bryant atheists. ” Myers, Ph. D. World. Vision 97

“Fewer than one out of every ten born again Christians possesses a biblical worldview

“Fewer than one out of every ten born again Christians possesses a biblical worldview that impacts his/her decisions and behaviors…The problem with Christianity in America is not the content of the faith, but the failure of its adherents to integrate the principles of the faith into their lifestyles. ” Sociologist George Barna 98

This Is A Post-Modern Brain On Compartmentalization Economics Politics Personal Finances Religion “Many leaders,

This Is A Post-Modern Brain On Compartmentalization Economics Politics Personal Finances Religion “Many leaders, I’m afraid, place their religious and moral convictions in separate compartments and do not think of the implications of their faith on their responsibilities. ” Billy Graham 99

“It is possible to envision a time when evangelicals have the ‘consistent Christian perspective

“It is possible to envision a time when evangelicals have the ‘consistent Christian perspective tools’ they require in this area of life. But it is probably best to expect Christian theology for life under modern high-tech capitalism to come mainly from where it now does--from Jewish, Catholic, Reformed, and Lutheran sources, in which traditions exist for relating doctrines of creation to matters of redemption in a modern economic context. ” Professor John R. Schneider Calvin College 100

“In his recent book, The Great Giveaway, David Fitch addresses the knee-jerk way in

“In his recent book, The Great Giveaway, David Fitch addresses the knee-jerk way in which evangelicals admire and copy churches and ministries that garner large followings. He speaks of evangelicalism’s ‘culture of numbers’ and show it often owes more to free-market capitalism’s concern for efficient production than it does to the gospel. ” Christianity Today 101

“[Americans are gravitating toward] a religion that is easygoing and experiential rather than rigorous

“[Americans are gravitating toward] a religion that is easygoing and experiential rather than rigorous and intellectual…We must fight the temptation to treat our faith the way we treat our careers--as a source of entertainment, fulfillment, and happiness. Remember the warning of C. S. Lewis: If you’re seeking happiness, don’t choose Christianity, choose port wine. ” Chuck Colson 102

“Nearly two billion people unblushingly call themselves Christian, happily breaking almost every commandment should

“Nearly two billion people unblushingly call themselves Christian, happily breaking almost every commandment should the occasion arise, serving Mammon and goodness knows who else. ” An Obituary For Jesus The Economist Easter 1999 103

“The area known as economics was never isolated by itself in Islamic society. It

“The area known as economics was never isolated by itself in Islamic society. It was always combined with ethics. That is why the very acceptance of economics as an independent domain, not to speak of as the dominating factor in life according to the prevailing paradigms of the modern world, is devastating to the Islamic view of human life. ” Professor Seyyed Nasr The Heart of Islam 104

“Despite, or maybe because of the world’s economic travails, Islamic finance has continued to

“Despite, or maybe because of the world’s economic travails, Islamic finance has continued to stride ahead, as investors seek alternatives to products that have let them down in the past. Assets in Islamic finance rose to $822 billion last year, an increase of 29 per cent compared to 2008 …Might the inherently prudent principles of Islamic finance have prevented lending to people who were likely to default, for instance? According to sharia law, the selling of loans is not permitted, nor is interest-bearing debt more generally—all factors that contributed to the crisis. ” The Financial 105

“(Unless Christian economists at major universities) keep their economics and their religion in separate

“(Unless Christian economists at major universities) keep their economics and their religion in separate compartments, they are likely to be denied tenure. It is acceptable to be Marxist, feminist, environmentalist, progressive, or other quasi-religious brand of economist, but not a Judeo-Christian economist. ” Robert Nelson, Ph. D. Forbes 106

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Somewhere in the seventies, or the sixties, we started expecting to be happy. I

Somewhere in the seventies, or the sixties, we started expecting to be happy. I think we have lost the old knowledge that happiness is over-rated—that in a way life itself is overrated. We are the first generations of man that actually expected to find happiness here on earth, and our search has caused such unhappiness. The reason: if you do not believe in another, higher world, if you believe only in the flat material world around you, if you believe that this is your only chance at happiness--if that is what you believe, then you are more than disappointed when the world does not give you a good measure of its riches, you are in despair. ” Peggy Noonan Life, Liberty and the Pursuit 108 of

“My advice to a school of business management is to teach the business manager

“My advice to a school of business management is to teach the business manager to give unlimited love and he or she will be more successful. " Sir John M. Templeton “Education which stops with efficiency may prove the greatest menace to society. The most dangerous criminal may be the man gifted with reason, but with no morals. ” Martin Luther King 109

“Wall Street says: split yourself off from your values and invest strictly for profit.

“Wall Street says: split yourself off from your values and invest strictly for profit. We say: invest with as much integrity as possible. An uncomfortable state of dissonance occurs when our actions are out of alignment with our hearts. It is possible to live with such inconsistencies only by putting on blinders--by maintaining that an investor has no responsibility for the actions of the companies in which his or her money is invested. But such conflicts are real, and no amount of denial can make them disappear. ” Investing With Your 110

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“The investor likes to think of himself as a force for honesty and transparency,

“The investor likes to think of himself as a force for honesty and transparency, but he has proved in recent years that he prefers a lucrative lie to an expensive truth. And he’s very good at letting corporate management know it. Investors, in their shortsightedness, encourage companies to neglect their social responsibilities. ” Michael Lewis The Irresponsible Investor 112

March 2009 113

March 2009 113

“Those who buy counterfeit designer goods project a fashionable image at a fraction of

“Those who buy counterfeit designer goods project a fashionable image at a fraction of the price of the real thing. You might think that would make them feel rather smug about themselves. But an intriguing piece of research published in Psychological Science suggests the opposite: wearing fake goods makes you feel a fake yourself, and causes you to be more dishonest in other matters than you would otherwise be. ” The Economist June 26, 2010 114

“Religion is not some kind of psychic exercise that occasionally offers a transcendent experience.

“Religion is not some kind of psychic exercise that occasionally offers a transcendent experience. It either shapes one’s life—all of one’s life—or it vanishes, leaving behind anxious, empty souls that no psychotherapy can reach. ” Journal Irving Kristol The Wall Street 115

“It is a curious fact that as we leave the most primitive peoples of

“It is a curious fact that as we leave the most primitive peoples of the world, we find the economic insecurity of the individual many times multiplied. The solitary Eskimo, Bushman, Indonesian, or Nigerian peasant, left to his or her own devices, will survive a considerable time. Living close to the soil or to his or her animal prey, such an individual can sustain his ownmore rarely, her own- life. But when we turn to the New Yorker or the Chicagoan, we are struck by exactly the opposite situation, by a prevailing ease of material life coupled with an extreme dependence on others. ” Robert Heilbroner 116

“Feeling down, anxious? Your problem may be that fat bank account. New research says

“Feeling down, anxious? Your problem may be that fat bank account. New research says the hell-bent pursuit of money can be hazardous to your mental health. It debunks the popular belief that having a goal, any goal, is psychologically beneficial. People who value extrinsic goals are more prone to behavioral problems and physical ailments. . . The gold diggers interviewed scored far lower on measures of vitality and self actualization. . . There’s no drawback in having money. You just need to remember the Forbes things that truly provide meaning in life. ” 117

“The church’s often-dismissive response to the layperson’s optimistic desire to integrate faith and career

“The church’s often-dismissive response to the layperson’s optimistic desire to integrate faith and career cannot be justified. In fact, this attitude may be the largest act of self-marginalization mainstream churches have ever engaged in. ” Professor Laura Nash Harvard University 118

Sweating The Small Stuff… “Many people think the church asks too much of its

Sweating The Small Stuff… “Many people think the church asks too much of its members. In reality, it asks too little… Frankly, many churches have dumbed down church until it has no meaning at all. We are afraid to ask men for a great 119

“While many Americans are no doubt ‘overspent, ’ the possibility of most people drowning

“While many Americans are no doubt ‘overspent, ’ the possibility of most people drowning in credit card debt as an explanation for lack of generous religious and charitable financial giving lacks empirical support…One commonly cited statistic in the media is that the average American owes more than $8, 000 in credit card debt. Numbers like that are inflated by a relatively small number of people in huge debt. The median balance was $2, 200. * That itself represents only three percent of all debts held by Americans. ” *Federal Reserve Board’s Survey 120

“The steady drop in donations, volunteering, and personal involvement is a direct result of

“The steady drop in donations, volunteering, and personal involvement is a direct result of a spiritual crisis -- a crisis caused in large part by the clergy’s failure to address the vital relationships between faith and money… the solution is not simply to talk more about the financial needs of the church -- 30 percent said they would actually give less money if churches talked more about finances than they do now. The answer is to talk about the broader relationships between faith, work, money, giving, the poor, and economic justice. ” Robert Wuthnow The Crisis In The Churches: Spiritual Malaise, Fiscal Woe 121

Part Three: Atheistic Challenges to Our Well. Being 122

Part Three: Atheistic Challenges to Our Well. Being 122

America’s New Secular, Economic Religion “We will give people a faith--a positive, clear and

America’s New Secular, Economic Religion “We will give people a faith--a positive, clear and consistent system of belief. ” 123

124

124

“Ayn Rand--the heroine of America’s libertarian right--described her philosophy as ‘the concept of man

“Ayn Rand--the heroine of America’s libertarian right--described her philosophy as ‘the concept of man as a noble being, with his own happiness as the moral purpose of his life, with productive achievement as his noblest activity, and reason as his only absolute. ’ The Reagan presidency provided opportunities for a few objectivists to try their hand at their most hated institution: government. The most celebrated Randist even survived the passing of the Reagan years. Alan Greenspan was an acolyte of Rand’s in the 1960’s. ” The Economist January 1994 125