Greed contributes to all the economic and financial woes of prosperous societies. The United States and other rich countries produce much more than is needed to support all of their people in comfort, so if desires were all truly modest, there would be few problems. Greed encourages people to decide that their own share is too small. Greed influences the popular desire for GDP growth (more, faster), financial gains (higher house prices as a human right) and total economic security (guaranteed pension, come what may). Voters’ greed encourages governments to spend more and tax less.
With the financial crisis erupting around the 500th anniversary of the birth of the Protestant theologian John Calvin, many people in the Netherlands — where his thinking played an important role in forming the local culture — are looking back at his influence and what he might say of the current crisis and the people involved.
Of all the denunciations of greed coming from the pulpits in this financial crisis, few have had as much sting as the attack that Bishop Wolfgang Huber of Berlin delivered just before Christmas. Huber, who as council chairman of the Evangelical Church in Germany (EKD) is the country’s top Protestant prelate, singled out the head of the biggest German bank when he lambasted top financiers for their rush for profits.