Money: Part 2 — do public and private leaders understand the money dilemma?

BY ERROL A. GIBBS

The forerunner of this article is money: “How can people survive without money in a capitalist system?” Spirited discussions regarding the previous article have inspired Part 2. The consensus from a diverse group of individuals is that the “lack of money” is the “root” of all kinds of evil —no less than the “love of money” is the “root” of all kinds of evil —according to Christian literature (1 Timothy 6:10).

People with money are the most admired and idolized people in the world. The world loves the wealthy, and some people crave the benefits they (the wealthy) receive from their materially driven lifestyles. Conversely, the world often despises the poor and attributes the condition of the poor to “generational poverty,” oblivious to the fact that the vast amount of poverty in the world is a byproduct of wealth creation.

Black African slavery, colonization, apartheid, labour exploitation, unfair trade practices, and the exploitation of the resources of poor underdeveloped and developing countries bolster undergird the wealth of some rich families, businesses, and governments. Augmented by some forms of structural advantages and injustices, “generational wealth” passes down through families in various forms of business enterprises, material wealth, stock market investments, religious holdings, and monies bequeathed from insurance policies.

Creativity and innovation do play a significant part in wealth creation. Notwithstanding, people who malign the poor for lack of industry fail to recognize the need for a “human ecosystem” —equitably based —an ecosystem that can provide opportunities for every human being to realize his or her full potential regardless of race, colour, culture, social status, religion, gender, health, or education.

The supply of money in the world grows exponentially. Some researchers cite a world growing in wealth, currently in the order of magnitude of approximately $37 – $90 trillion, depending on the method of counting actual dollars and material assets. How can world leaders justify the “rich-poor gap” that is overwhelming peoples and nations? The answer is quite simple —people with money have designed the human ecosystem to benefit themselves, with some inadvertent benefits for the middle-class.

Money opens the doors for the children of the wealthy to attend prestigious prep schools and Ivy-league universities, even when they may not all be aptly qualified. People with money can buy justice. Could there be any greater evil in the world than this? Justice at John Jay College: The Crime Report: The headline reads — “You are Better off Rich and Guilty that Poor and Innocent” (Sam Brooke, the Deputy Director of the Southern Poverty Law Center).

“Since the 15^th century, Lady Justice has often been depicted wearing a blindfold. The blindfold represents objectivity, in that justice is or should be meted out objectively, without fear or favor, regardless of identity, money, power, or weakness; blind justice and impartiality (https://newepicurean.com/should-lady-justice-be-blindfolded/).”

The entrenched policies, guidelines, restricted memberships, legal, political, social and economic barriers, racial barriers, and gender barriers that act as a buffer against the powerless in society is troubling. According to the World Economic Forum. Worldwide: The report says billionaire wealth increased an average of $3.3 billion a day, representing a total increase of 12 percent from 2017.

In the decade since the 2008 financial crisis, the number of billionaires in the world has nearly doubled, the report also says (Reference: The annual Forbes billionaires list). There are 46 billionaires in Canada, says Forbes. The wealth held by the poorest half of the world’s population has decreased by 11 percent between June 2017 and June 2018, the report says, citing Credit Suisse’s Global Wealth Report and Global Wealth Databook.

The most potent stronghold against poverty ought to be the voices of religious leaders. They have the sovereign authority to speak on behalf of a sovereign people with a resonant voice against a human ecosystem that favours people with money. It is no longer useful to relegate peoples’ poverty and improvised state to God’s intervention by praying without strategic solutions.

Religious leaders are wealthy in comparison to their followers. Their children benefit from “generational wealth.” Religious leaders ought to be the most knowledgeable about the state of the world. They have the strategic benefits of an audience that is desperate for leadership and guidance. They ought to have the capacity to help develop the great minds of their audiences.

They should bring to the boardroom tables of the world a keen understanding of the value of money to the creation of just, peaceful, and productive societies. God will not do it. Hence, they must speak openly and objectively to the challenges that peoples and nations undergo because of a lack of money, such as poor education, joblessness, health challenges, family violence, and the breakdown of marriage. These issues are not merely the affairs of political leaders, but all humanity.

These issues convict humankind of poor stewardship of the worlds’ resources (intellectual, financial, and material) —lack of understanding of the value of money to a more just society, and the benefits of peacefulness —within marriages, families, communities, the nation, and the international community.