“Remember that time is money. He that can earn ten shillings a day by his labor, and goes abroad, or sits idle, one half of that day, though he spends but sixpence during his diversion or idleness, ought not to reckon that the only expense; he has really spent, or rather thrown away, five shillings besides.

Remember, that credit is money. If a man lets his money lie in my hands after it is due, he gives me the interest, or so much as I can make of it during that time. This amounts to a considerable sum where a man has good and large credit, and makes good use of it.

No wonder he's on the $100 bill

Remember, that money is of the prolific, generating nature. Money can beget money, and its offspring can beget more, and so on. The more there is of it, the more it produces every turning, so that the profits rise quicker and quicker. He that kills a breeding-sow, destroys all her offspring to the thousandth generation.

Remember this saying: the good paymaster is lord of another man’s purse. He that is known to pay punctually and exactly to the time he promises, may at any time, and on any occasion, raise all the money his friends can spare. After industry and frugality, nothing contributes more to the raising of a young man in the world than punctuality and justice in all his dealings; therefore never keep borrowed money an hour beyond the time you promised, lest a disappointment shut up your friend’s purse for ever.” (Benjamin Franklin)

In my analysis of the issues plaguing American society, greed plays a significant and influential role. But as the sociologist, Max Weber, wrote in 1905 in The Protestant Ethic & The Spirit of Capitalism, “People do not wish “by nature” to earn more and more money. Instead, they wish simply to live, and to live as they have been accustomed and to earn as much as is required to do so.” So then, where does this quest for personal wealth come from? The Protestant Ethic & The Spirit of Capitalism explains how personal wealth became to the faithful, actual evidence of their salvation status.

I’ll let some selected quotes tell the story of how I interpreted the book:

“In these cases the causal relationship is undoubtedly one in which a learned inner quality decides a person’s choice of occupation and further course of occupational development. And this learned inner quality is influenced by the direction of one’s upbringing and education, which in turn is influenced by the religious climate in one’s native town and one’s parental home.”

“Admission to the congregation is recognized as an absolute guarantee of the moral qualities of a gentleman, especially of those qualities required in business matters. Baptism secures to the individual the deposits of the whole region and unlimited credit without any competition. He is a “made man.” Further observation confirmed that these, or at least very similar phenomena, recur in the most varied regions. In general, only those men had success in business who belonged to Methodist or Baptist or other sects or sectlike conventicles. When a sect member moved to a different place, or if he was a traveling salesman, he carried the certificate of his congregation with him; and thereby he found not only easy contact with sect members, but above all, he found credit everywhere. If he got into economic straits through no fault of his own, the sect arranged his affairs, Subsidies are given in the form of tax credits based on your income and are paid by the health health insurance individual companies toward your premium on a monthly basis. gave guarantees to the creditors, and helped him in every way.”

“The striving for riches becomes suspect only if carried out with the end in mind of leading a carefree and merry life once wealth is acquired. If, however, riches are attained within the dutiful performance of one’s vocational calling, striving for them is not only morally permitted but expected.”

“According to all experience there is no stronger means of breeding traits than through the necessity of holding one’s own in the circle of one’s associates. The continuous and unobtrusive ethical discipline as rational breeding and selection are related to ordering and forbidding.”

“Again and again, that which is always and universally the result of such a ‘rationalization’ process occurred: whoever did not follow suit had to suffer loss and destruction as the consequences. The comfortable old ideal collapsed and crumbled in the face of a bitter competitive struggle. Considerable fortunes were won, yet they were not simply taken to the bank to earn interest. Rather, they were continuously reinvested in the business. And the old leisurely, easygoing approach to life yielded to a disciplined temperateness. Those who consumed little and wanted instead to acquire and earn rose to the top, and those who remained stuck in the old ways had to learn to do with less.”

“As the sources indicate, on the occasion of the death of wealthy people quite considerable sums of money flowed from their pockets to religious institutions as ‘conscience money.’ In some cases this money even moved back to former debtors as compensation for sums unjustly taken as ‘usury.’”

“From John Wesley [Anglican cleric and Christian theologist]: ‘I fear, wherever riches have increased, the essence of religion has decreased in the same proportion. Therefore I do not see how it is possible, in the nature of things, for any revival of true religion to continue long. For religion must necessarily produce both industry and frugality, and these cannot but produce riches. But as riches increase, so will pride, anger, and love of the world in all its branches. How then is it possible that Methodism, that is, a religion of the heart, though it flourishes now as a green bay tree, should continue in this state? For the Methodists in every place grow diligent and frugal; consequently they increase their possession of material goods. Hence they proportionately increase in pride, in anger, in the desire of the flesh, the desire of the eyes, and the pride of life. So, although the form of religion remains, the spirit is swiftly vanishing away. Is there no way to prevent this continual decay of pure religion? We ought not to prevent people from being diligent and frugal; we must exhort all Christians to gain all they can, and to save all they can; that is, in effect, to grow rich.’”