Secular vs. Religious Finance: Eh, what?

by JT McGee

Secular finance vs. Christian personal financeMy post about Entreleadership apparently got a lot of people fired up. Matt Wegner was one of those people. You can see our discussion on the topic of corporate finance on the Entreleadership post page.

But our conversation didn’t stop there. Matt took it to his podcast, putting together a nearly 1 hour discussion on Why Dave Ramsey’s advice doesn’t make sense.

I listened to the whole thing, as any good person should do. The largest difference in our viewpoints seems to stem from a difference Matt sees in finance; secular finance vs. Christian finance. It was enlightening, interesting, and maybe at times a bit hyperbolic, but it’s a good rebuttal.

I’ll agree to disagree, as it really is a very fundamental difference of opinion. However, I will say that even Christian personal finance is very much secular. Islamic tradition, which says there is to be no interest paid on any debt, takes this belief to a level far past the views espoused by Christians.

Even Christian personal fiance commentators are fine with mortgage debt, but Islamic tradition wouldn’t be cool with that. I might even go so far to say that the lack of available investment opportunities is one of many reasons why the Middle East, despite being so commodity rich, lacks in development. If people can’t be paid for risk, then why take one? A fear of debt certainly hasn’t been good to development in the Middle East.

I was, in full disclosure, raised as a Catholic. Compared to near “Renaissance” in the emerging Christian fundamentalist viewpoint, Catholics may as well be atheists. Pope John Paul II did give the green light to evolution, right?

Either way, semantics are relatively unimportant, but have a listen if you’ve the time.

Photo by: Paul

{ 1 comment… read it below or add one }

Doctor Stock October 2, 2011 at 00:53

A good dialogue… always healthy when disagreements take place in the context of respect.


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