[MUSIC] “Money makes the world go round,” the old saying goes. This may be so, but how do religious convictions shape perceptions of money? In his famous work, The Protestant Ethic and the Spirit of Capitalism, Max Weber argued that the theological idea of honoring God through discipline and commitment to one's vocation contributed to the modern capitalist idea that the acquisition of wealth is a good thing. By making money in their successful endeavors, capitalists honor the god who gave them their vocations. Weber argues that this optimistic view of the market differs from the more sober view that traditional capitalists, like Martin Luther, had towards money. Although Luther lived long ago in a very different world, his views about money still challenge us to think about economic justice in our own time. Luther used a particular comment from the Bible to think about money. First Timothy chapter 6, verse 10 says, The love of money is the root of all evil.” Luther spoke harshly of the “financial evils” of his time in his 1524 treatise, “On Trade and Usury,” especially the “gaping jaws of avarice” that inevitably opened whenever people did business with each other. He believed that greed, which Catholics identify as one of the seven deadly sins, destroys the soul by focusing a person's desire exclusively on acquiring more and more wealth. The greedy person uses others as a means to personal gain and dishonors God as creator of all temporal goods. New markets were opening up in Luther's time: there was a booming trade in spices and silks from the Muslim east, and in gold and animal pelts from the colonized Americas. A merchant class that needed more and more money for its ventures was rising in European cities, so that money lending became one of the great scandals of the day. Luther was well aware of these developments and how the Catholic Church conducted its own business in this environment. The papacy had deep ties to one of the largest banking firms of the time, the Fuggers in Augsburg, Germany, which had furnished the funds with which Albrecht of Mainz paid the pope for his archbishopric in addition to supplying Charles V with funds to secure his election. Canon law forbade lending money at interest under threat of excommunication, but this restriction had been completely overridden by church needs in the sixteenth century. The Church was too enmeshed in financial matters to extricate its interests from those of the bankers. In his criticism of the Church's financial dealings, Luther defined the ethic of merchants as, “I may sell my goods as dear as I can.” This “flies squarely in the face not only of Christian love,” Luther countered, “but also of natural law. On such a basis, trade can be nothing but robbing and stealing the property of others.” Buying low and selling high deprives workers of a fair wage and buyers of a fair price, adding up to two counts of theft. Luther believed that both the sale of insurance and money lending resulted in exploitation, and he denounced monopolies for controlling prices and lowering the standard of goods. The winner-takes-all ethic of the market ultimately destroys society, Luther reasoned, so markets required regulation. Luther understood that markets fluctuate with the ups and downs of supply and demand, but he reminded merchants tempted to profit from this volatility that “because your selling is an act performed towards your neighbor, it should rather be so governed by law and conscience.” Acknowledging that sin taints the conscience, Luther called upon the temporal authorities to make rules for the just practice of commerce, regulating the market so that the merchant who risks something for the sale makes an adequate living, while the buyer is protected from exploitation. The temporal sword, in other words, was to restrain the worst excesses of commerce. As Luther saw it, the temporal sword owes its legitimacy to God, who created the world and all its goods. The vocation of merchant is God-given. While God remains hidden behind all temporal goods, God is the source of all things that assist human flourishing. Body and mind, family and household, the land, sea, and heavens, and the ordering of society. This was the theological ground of Luther's economic ethics: All the things that money buys were created by God and are in God's hands. [MUSIC]