The Morality of Wealth: Biblical and Economic Perspectives

Throughout history, the pursuit of wealth has been a central concern in both religious and economic thought. The Bible addresses prosperity and morality in different ways, as seen in Proverbs 11:10 and 2 Peter 2:3. These verses highlight the contrast between righteous and corrupt wealth, echoing themes found in capitalism’s evolution. Is prosperity inherently good, or does the method of its acquisition define its morality? Can capitalism, as an economic system, truly promote flourishing for all, or is it susceptible to exploitation? This discussion will explore these questions by comparing biblical wisdom with economic theory.

Biblical Perspective on Wealth: A Comparison of Proverbs 11:10 and 2 Peter 2:3

Moral Judgment of Prosperity

Both Proverbs 11:10 and 2 Peter 2:3 acknowledge that wealth has moral implications, but they approach the topic from different perspectives.

Proverbs 11:10 states:

“When the righteous prosper, the city rejoices; when the wicked perish, there are shouts of joy.” (NIV)

This suggests that wealth, when earned righteously, benefits not just the individual but the community. The prosperity of good people is a cause for celebration because it contributes to societal well-being. The prosperity extends to all stakeholders, not just the owners of the business. Employees, customers, vendors, suppliers, neighbors, and municipalities are all beneficiaries when the righteous prosper. Do your investments bring ticker tape parade rejoicing in the streets of your community?

On the other hand, 2 Peter 2:3 warns against deceitful profit:

“And in their desire for profit they will come to you with words of deceit, like traders doing business in souls...” (BBE)

This verse critiques those who seek financial gain through manipulation, comparing them to merchants who exploit human lives. Unlike Proverbs, which sees wealth as a potential blessing, Peter warns against greed-driven accumulation that harms others. Many investors seek financial gain without care for those who may be harmed. Whether its exploitation and slavery in the supply chain, unfair wages, poor working conditions, lack of social benefits such as health care or taking advantage of people’s addictions to gain profit are characteristics of business in the end days. Does your desire for financial return cause you to be ignorant of or turn a blind eye to “trading in human souls”?

The point of view described in Proverbs and the one in 2 Peter both have an impact on society.

Proverbs presents prosperity as a source of collective joy when acquired through righteousness, while 2 Peter portrays it as destructive when gained through deception. This contrast underscores the biblical theme that how wealth is earned and used matters more than the mere fact of wealth itself.

Together, these verses present a balanced biblical view: wealth itself is not evil, but its pursuit, process, and outcome must be righteous.

Capitalism and the Question of Moral Prosperity

The evolution of capitalism raises similar questions about whether economic systems inherently promote prosperity for all or whether they require ethical safeguards.

Adam Smith and the "Invisible Hand"

Adam Smith, often considered the father of capitalism, argued in The Wealth of Nations (1776) that individuals pursuing their self-interest unintentionally contribute to the greater good: he states:

“Every individual... neither intends to promote the public interest, nor knows how much he is promoting it. By directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention.” (The Wealth of Nations, Book IV, Chapter 2)

According to Smith, competition and free exchange lead to innovation, efficiency, and rising living standards for society as a whole. This aligns with Proverbs 11:10’s vision of prosperity benefiting the community. However, Smith did not advocate for unregulated capitalism. He recognized the need for moral restraint, warning that businesses, if left unchecked, could act against public interest.

John Locke and Property Rights

John Locke, whose ideas influenced capitalist thought, emphasized property rights as essential to individual freedom and prosperity:

“Every man has a property in his own person. This, nobody has any right to, but himself. The labour of his body, and the work of his hands, we may say, are properly his.” (Second Treatise of Government, Chapter 5)

Locke’s view justifies private ownership but also implies that wealth should not be hoarded in ways that harm others. This echoes Proverbs’ idea that righteous prosperity uplifts society.

Milton Friedman and Market Efficiency

Milton Friedman, a 20th-century economist, strongly defended free-market capitalism, arguing that it was the best system for ensuring widespread prosperity:

“The great virtue of a free market system is that it does not care what color people are; it does not care what their religion is; it only cares whether they can produce something you want to buy. It is the most effective system we have discovered to enable people who hate one another to deal with one another and help one another.” (Why Government is the Problem, 1999)

Friedman believed capitalism could promote economic growth for all, but his critics argue that without ethical oversight, markets can lead to exploitation—aligning with 2 Peter 2:3’s warning about profit-driven deceit.

Capitalism’s Challenges: Balancing Prosperity and Morality

While capitalism was not explicitly designed to benefit only the wealthy, in practice, it has often led to inequalities. Over time, societies have introduced regulations, social safety nets, and ethical considerations to ensure that economic growth does not come at the expense of fairness.

Key Tensions:

Proverbs 11:10

• View on Wealth: Wealth of the righteous is good and celebrated.

• Social Impact: Ethical prosperity benefits society.

• Moral Framework: Righteousness ensures just distribution of prosperity.

2 Peter 2:3

• View on Wealth: Wealth gained through deceit is corrupt.

• Social Impact: Exploitation harms people.

• Moral Framework: Greed and deception lead to corruption.

Capitalism:

• View on Wealth: Wealth can drive innovation and prosperity.

• Social Impact: Markets create opportunities but require oversight.

• Moral Framework: Capitalism relies on both self-interest and ethical regulation.

This breakdown highlights that while capitalism has the potential to uplift society (as seen in Proverbs), it also presents risks of exploitation (as warned in 2 Peter).

A Biblical and Economic Synthesis

Proverbs 11:10 and 2 Peter 2:3 present two sides of the prosperity debate—one emphasizing the joy of righteous wealth and the other warning against deceitful gain. Capitalism, in its ideal form, aligns with Proverbs’ vision, fostering innovation and opportunity. However, as 2 Peter warns, when greed overrides ethics, the system can become exploitative.

Ultimately, both biblical wisdom and economic theory suggest that prosperity itself is not inherently good or bad. What matters is how it is pursued and who it benefits. A just society must ensure that economic success uplifts communities rather than exploiting them. In this way, capitalism and investing can move closer to the ideal of righteous prosperity that Proverbs envisions, rather than the corrupt trade condemned in 2 Peter. How’s your portfolio?