But they that will be rich fall into temptation and a snare, and into many foolish and hurtful lusts, which drown men in destruction and perdition.
1 Timothy 6:9-10
For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.
You may have heard that the richest 1% own 40% of the world’s wealth. In the United States, three men own more than the bottom half of all Americans added together. This is outrageous! It means that if just three men liquidated all their assets, they could DOUBLE the wealth of everyone in the poorest HALF of the United States!
But it is not given that one man should possess that which is above another, wherefore the world lieth in sin.
Doctrine and Covenants 49:20
To be fair, Bezos, Gates, and Buffett don’t just keep their billions in cash in off-shore accounts (though they have those). A large portion of their total net worth is invested in their businesses — which do employ people and contribute to the economy.
Still, these men have plenty of disposable cash on hand. One must ask why they seem determined to keep accumulating more. Surely they each passed a point of diminishing personal return a few billion dollars ago. One can only eat so much steak and caviar.
Wealth for it’s own sake is pointless
“And what good does it do you to own the stars?”
The Little Prince talking to a businessman
“It does me the good of making me rich.”
“And what good does it do you to be rich?”
“It makes it possible for me to buy more stars, if any are discovered.”
This fictional child teaches us that owning something just for the sake of owning it doesn’t make sense. When he asks the businessman what he DOES with the stars that he claims to own, the business man replies, “I administer them.” This means, he explains, that he spends his time counting and recounting the stars. The Little Prince illustrates that the businessman’s logic is circular and his work is trivial.
In the character of Scrooge, from A Christmas Carol, Charles Dickens shows us the futility and the ultimate unhappiness of a life dedicated to the pursuit of wealth for its own sake. It is only at the end of the story, when Scrooge starts to spend his hoarded money to bless the lives of others, that he finds personal happiness.
Money only has value when being used
“Money is like manure; it’s not worth a thing unless it’s spread around encouraging young things to grow.”
Thornton Wilder, The Matchmaker
Money is a medium of exchange. It has no practical value except as it is used to facilitate commerce. Money in the bank is like potential energy. It is stored, but it is not actively moving things along. When the wealthy and the super-wealthy hoard huge sums of money, they are actually weakening the economy by taking the cash out of circulation.
Money should not be a goal in itself. It should be seen as a tool to help achieve goals.
Money should not be our first priority
During the Sermon on the Mount, Jesus warned his followers that they could not serve two masters, God and mammon (“money” in Hebrew). He then says:
Therefore take no thought, saying, What shall we eat? or, What shall we drink? or, Wherewithal shall we be clothed?
Matthew 6:31-33
(For after all these things do the Gentiles seek:) for your heavenly Father knoweth that ye have need of all these things.
But seek ye first the kingdom of God, and his righteousness; and all these things shall be added unto you.
His instruction is pretty clear. We are to FIRST seek righteousness and the kingdom of God. Everything else is secondary. God is capable of providing for the needs of His people.
Yet Satan keeps telling us that we can have anything in this world in exchange for money. He is not exactly lying, but he IS being deceptive. First, he is trying to sell us things we don’t need, and second, he is trying to sell us much MORE than we need. This, in turn, tempts us to pursue more money than we need so we can afford more unnecessary material things.
Everything belongs to God
Through the Law of Consecration, many members of the Church of Jesus Christ of Latter-day Saints have already promised all that they have to the Church. The local Bishop has not yet come around asking for more than the basic tithes and offerings, but we should remember what we have promised and stand ready.
The Law of Consecration reminds us that “our” money and possessions all belong to God anyway. He created us and everything in this world. We are merely temporary stewards of a portion of His creation.
The important question to ask ourselves is, “How are we using our stewardship while on this Earth?” Are we grateful for our blessings or do we believe we “earned” them on our own? Do we share our blessings freely or do we selfishly hoard them? Do we use our talents to help build the Kingdom of God or do we use them in the selfish pursuit of power and gain?
Our daily choices reveal our priorities. Do you love money or do you love God?
And whoso is found a faithful, a just, and a wise steward shall enter into the joy of his Lord, and shall inherit eternal life.
Doctrine and Covenants 51:19
Sources: “Global Inequality,” Inequality.org.
Michelle Chen, “Bill Gates, Jeff Bezos, and Warren Buffett Own More Wealth Than the Entire Poorest Half of the US Population,” The Nation, November 13, 2017.
Antoine de Saint Exupery, The Little Prince, 1943.
Charles Dickens, A Christmas Carol, 1843.
I remember an interview with Trump’s first wife, where she commented that “The more he gets, the more he wants.” The title of his PhD niece’s book is Too Much and Never Enough. Yep.
But none of what you say is even hinted at by the Deseret News editorial board. I just don’t get it. I just don’t get it! I feel nothing but despair.