Is Bad Theology To Blame for the Financial Crisis?

I read an interesting article some time ago about the relationship between the prosperity gospel and the current economic crisis. I don’t know why I waited until now to share my thoughts, but here they are.

It is impossible to substantiate a causal link here. I think it’s more likely that both phenomena – the “gospel” and the crisis – are symptoms of the same disease. Namely, the hyper-optimism that, in my opinion, is at the root of almost all of the ills in our society.

Why did so many families decide to accept mortgages they could not afford to repay? Why do so many rent furniture and/or electronic devices at highly unreasonable rates instead of saving for them? Why do so many use credit cards to finance holiday gifts instead of cutting back and giving what they can afford? The answer to all of these questions is the same – optimism. I’m an optimist myself and I’d like to think that is a good thing – told you I was an optimist – but it is dangerous to always assume the best possible outcome.

Agreeing to a loan because you think you will be able to afford the payments someday is foolish at best. It’s like borrowing money now because you assume your situation will improve by pay day – it is the worst kind of optimism.