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Book review assignment Money, Greed, and God is written by Jay W. Richards. Jay W. Richards is famous with many books about economics, environment, and culture. Money, Greed, and God is a book about capitalism.

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Introduction

Book review assignment Money, Greed, and God is written by Jay W. Richards. Jay W. Richards is famous with many books about economics, environment, and culture. Money, Greed, and God is a book about capitalism. The author proves that capitalism is the solution and not the problem. With his clear and strong argument, his book is very persuasive. Jay W. Richards write Money, Greed, and God to explain the misunderstanding about capitalism. Eight economic myths, eight misunderstanding include Nirvana Myth, Piety Myth, Zero-Sum Game Myth, Materialist Myth, Greed Myth, Usury Myth, Artsy Myth, and Freeze-Frame Myth. In the Nirvana Myth, capitalism is contrasted with unrealizable ideal. We know that everything is imperfect, so we cannot consider the perfection. The Nirvana Myth belongs to communism with dream about utopian nations. It is unbelievable and unrealistic. It suffered an extreme failure. The Piety Myth in which we should avoid unintended consequences of our actions. We can see that there are billions or trillions of dollars are sent from the rich countries to the poor countries. It looks like a benevolent action, but it really contains unintended consequences. It makes the problems worse. For example, sending money to the poor may cause corruption, so government will waste money because it cannot control the spending (page 47 - 58). ...read more.

Middle

The Usury Myth believes that working with money is inherently immoral and that charging interest is always exploitative. People think that usury ignoble and selling money is committed usury (page 136). A static banking system encourages thrift and savings over instant gratification and consumption-one of the basic requirements for capitalism. In bible, there is an interesting story about 3 servants. The one who had received one talent dig a hole to hide the master's money. Finally, he was punished by his master. This servant should invest money into the bank, so when his master return, he can earn from this interest. In short, it is not immoral to accept interest for lending money to someone. It does not only make profit for saver, but also motivate the economy growth. The Artsy Myth in which we confuse aesthetic myths with economic arguments. Capitalism doesn't lead to an ugly consumerist culture. A free market allows people to choose wrong, but it does not force them to do it. Moreover, it is the materialist worldview that denies the divine, not the capitalism. The Freeze-Frame Myth which says that things always stay the same. This is a misconception because of the shortage of resources such as oil. ...read more.

Conclusion

There are two serious problem exist in this action. Firstly, charity can only help others temporarily. So the problem cannot be solved absolutely. Charity is really helpful only in emergency situation such helping Japan after the disaster of tsunami. But the consequence is that the people in these poor countries will rely on this donation from United States and do not have efforts to work. Secondly, corruption is obstacle of the charity. If government cannot control this problem, money will be wasted in the hand of some people because the donators are not the ones who give money directly to the poor. Moreover, be having for the donation, government have to raise the tax from many area such as trading, income, and entertainment. It will hurt the economy. In short, government should prepare carefully a complete plan to help the poo without any serious consequences. "Money, Greed, And God" is a very good book which gives me a lot of information about economics and widens my knowledge. By reading this book, I can understand more about capitalism and its benefit. I also can prevent any mistake as eight myths in this book. Moreover, it does not only give me information, but also help me to be ready to enter the real life with a complex economy. ?? ?? ?? ?? Duong 1 ...read more.

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