The Argument for Wealth Accumulation
Big corporations, personal wealth, and free markets often receive a bad rap from Catholics. The general consensus is that if you have a high paying job, are therefore wealthy, and to some degree enjoy that wealth, then there is something dangerously wrong. Jesus said that “it is easier for a camel to pass through the eye of a needle than for one who is rich to enter the kingdom of God” (Matthew 19:24). So wealth accumulation is bad, right? Not necessarily. Drawing from Thomas Aquinas’ Summa Theologica, the Catechism of the Catholic Church, and the Compendium of the Social Doctrine of the Church, it becomes clear that the story is more complicated.
The Catechism of the Catholic Church states that the tenth commandment forbids greed and the “amass[ing of] earthly goods without limit” (2536). Likewise, it says about the Sabbath that is “a day of protest against the servitude of work and the worship of money” (2172). We see here that acquiring goods without any limit and the worship of money are both bad. It does not, however, say that wealth accumulation in general is bad.
Thomas Aquinas spends merely two pages in the entire Summa on the topic of wealth accumulation. His argument is that wealth accumulation is not in itself bad as long as it is governed by a sense of generosity, which “disposes us to good use of wealth” (117). But how does he define wealth? It is the buildup of “all such material goods useful for human living” (118).
Part of Aquinas’ argument is that material goods are useful and therefore are good a priori. Goods are created for the use of mankind and cannot themselves commit evil. However, how the materials are used may alter the state of an object from that of something good to something evil. Insofar as material goods are necessary and useful for our survival, they are good; but wanting those goods in excess is wrong and leads to avarice, or an “unbalanced love of possessing” (Summa, 118). Charity comes into play here as a means by which men may curb avarice and direct their goods toward a higher purpose. Aquinas notes that “it is fatal when the love of money ousts love of charity for God and our fellowmen” (119). So wealth accumulation is good insofar as we are willing to use that accumulation as a means of charity, love for God, and good works towards our fellow men.
Aquinas urges the reader to keep in mind, however, that money and goods open the door to a two-way street of potential sin. He concludes by stating that “the avaricious man goes too far in the love of wealth, loving money more than he ought; the prodigal doesn’t go far enough, showing too little responsibility in its use” (119). So with wealth accumulation comes the responsibility to remain charitable, while our potential to accumulate wealth holds us accountable to potential sloth. We are called to use our talents to succeed in life, but that success should be tempered by love for God and love for man.
Now that we have established what wealth is and how its good nature can be used for evil, we must turn to what the Church has to say on the issue of wealth accumulation and economics. The Compendium of the Social Doctrine of the Church states that the economy “has as its object the development of wealth and its progressive increase, not only in quantity but also in quality; this is morally correct if it is directed to man’s overall development in solidarity and to that of the society in which people live and work” (334). Basically, wealth accumulation is good if it helps people and helps you live a better life.
The Compendium goes on to state that capitalism is good if one defines it as “an economic system which recognizes the fundamental and positive role of business, the market, private property and the resulting responsibility for the means of production, as well as free human creativity in the economic sector” (335). Again we have an emphasis on the idea that wealth accumulation is good insofar as it is used for the betterment of oneself and society.
So if wealth accumulation can be a good thing, where does one draw the line and say “I have no need for further wealth accumulation”? That is a question both Aquinas and the Church do not dare put a price tag on. The needs of people and society are not static but rather change from one day to the next. Aquinas answered this question by simply stating that generosity must guide one’s sense of need. If your status in life requires that you have a certain amount of wealth and likewise, if your community requires it, that is how you determine where to draw the line (118). And the Church’s answer to this question? Prudence is essential in determining one’s financial needs and how much of your wealth can be utilized for the improvement of your community and your fellow man.
So Jesus’ statement in Matthew 19:24 is not a condemnation of the wealthy man, but rather a word of warning: if you allow yourself to fall into avarice and to love money more than God, you will never enter the kingdom of heaven. The wealthy man will always face the temptations of avarice, but with the help of charity, falling into such a trap can be avoided.
Copyright © 2008 by Tiara Zarcone. This article may not be reproduced in any form without the author’s express written permission. Posted on A&M Blog with Author’s permission.
