Saturday, November 14, 2009

Did the prosperity gospel cause the global financial crisis?

I have no idea. But this article seems to suggest it could possibly have been a contributing factor. Which means the answer is, probably not.

I have no idea of the validity of this report or the magazine - it could be a piece of satire for all I know. But I like the concept.

Many explanations have been offered for the housing bubble and subsequent crash: interest rates were too low; regulation failed; rising real-estate prices induced a sort of temporary insanity in America’s middle class. But there is one explanation that speaks to a lasting and fundamental shift in American culture—a shift in the American conception of divine Providence and its relationship to wealth.

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