20 May 2022

61

The Religious Nature of Capitalism

Format: APA

Academic level: Master’s

Paper type: Assignment

Words: 1298

Pages: 3

Downloads: 0

In chapter 7, Biondo explores how religion shapes the economy and the financial interests of individuals. He observes that religions issue guidelines which allow for the creation of sustainable economies that serve the interests of all. Biondo also points out that most religions condemned slavery. However, mankind used religious text to justify and promote slavery and other exploitative practices. Overall, chapter 7 discusses the enduring impact that religion continues to have on economies and financial matters.

How Western Religions Discourage Slavery

One of the arguments that Biondo presents is that historically, Western religions have discouraged slavery. Among the ways that Western religions use to discourage slavery is promoting humane relations among different communities. Biondo notes that while most religions are not outright in their condemnation of slavery, they encourage adherents to respect God’s creation and to be humane in their interactions with others. It is indeed encouraging that Western religions promote harmony and humane treatment of others. However, these religions would be far more effective if they made it clear that slavery is evil and unforgivable. Given the impact that religion has had in the West, outright condemnation of slavery would have eliminated this vice.

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The second way through which Western religion discourages slavery is by recognizing the rights of such minorities as women. Biondo observes that such texts as Torah spell out the rights that women should be granted. He adds that these texts were designed to promote the empowerment of women. Convenient and inaccurate interpretations of these texts are what allowed for such ills as slavery to thrive. Essentially, man is misinterpreting religious texts to justify slavery. While it is commendable that religions grant minorities rights, they do not go far enough in discouraging slavery. It is fair to argue that if such religions as Christianity punished slavery, people would be more reluctant to enslave others.

Western religions challenge people to disregard individual differences and aspire to treat one another better. Biondo cites the Gospels and the Mishnah as among the religious texts that call on communities to demonstrate respect in their treatment of others. As they treat others with respect, individuals are able to create a more equal society where all forms of slavery are forbidden. Given that Western religions discourage slavery, one is forced to wonder why such communities as blacks in the US were subjected to slavery for centuries. Perhaps the influence of religion in the Western world is waning.

Usury and Debt Bondage

Usury and debt bondage are among the vices that Biondo addresses in chapter 7. Biondo defines usury as the practice of lending money at exorbitant rates with the intention of exploiting others. For example, an individual could lend a small amount at an interest rate of 300%. This rate is clearly excessive and exploitative. Biondo adds that usury is not driven by pure motives. Instead, those who engage in this practice intend to cause harm. He then proceeds to offer a discussion on debt bondage. Debt bondage refers to a situation where one is forced to go great lengths to repay a loan which is essentially unpayable. For instance, suppose that an individual lends another $400. The recipient of this loan earns $5. It is simply impossible for the loan to be repaid in full given the meager amount that the recipient of the loan earns and the large size of the loan. The recipient is likely to spend the rest of his life servicing the loan. This is the essence of debt bondage. Debt bondage is relevant to the US. In 2008, it is believed that banks offered mortgages to poor families who could not afford to repay. When the families eventually defaulted, many lost their homes. The experiences of these families show that debt bondage is as much a problem today as it was in previous eras.

Inheritance

Inheritance is among the key issues that Biondo discusses. One of the issues that he raises is that most religions place great focus on inheritance. For example, Western religions mandate that fathers should never disown their children except in such exceptional circumstances as when a child commits murder. The religions also urge fathers to be responsible in their treatment of their children. They should not spoil their children through extremely generous inheritance. Instead, they should also engage in charitable giving. Another issue regarding inheritance that Biondo raises is the role of equality. He points out that Western religions stipulate that inheritance should be used to create a more equal society. The conflict between religious provisions and the realities of modern life is yet another issue that Biondo explores. He argues that religions promote generous giving and fair inheritance practices. On the other hand, modern capitalist societies encourage selfishness and total disregard for the wellbeing of others. It is nearly impossible to promote equality through inheritance in modern societies where everyone is expected to fend for themselves. Biondo also contrasts the inheritance practices in rural areas and urban centers. In rural areas, fathers usually leave much of their property to the firstborn son. On the other hand, fathers in urban centers display equality in how they distribute their wealth among their children.

Taxation and Alms as Obstacles to Sustainable Stewardship

Biondo presents taxation and alms are some of the hurdles that hamper sustainable stewardship. He contends that taxation have a zero sum in an economy. The taxes that a particular group pays are used to serve the needs of others. For example, taxing seniors more to attend to the needs of children has a sum of zero. Basically, taxation hampers development since it takes money out of the pockets of one group of people and places in in the hands of others. Biondo states further that taxation has a burdening effect on payers. Essentially, taxation creates a free-rider society where some people rely on the efforts of others without committing any energy to develop the economy. Biondo blames alms for compounding the free-rider problem. He states that alms enable lazy people to exploit the kindness of others. It is nearly impossible for a nation to grow when a significant proportion of its population relies on charitable contributions. In addition to promoting laziness, alms also impose a burden on those who give to charity. Therefore, to promote economic growth and sustainable leadership, focus should be given to enhancing economic output. Fairer tax systems which do not merely redistribute wealth should be adopted.

Section 2: Nature or Nurture 

In chapter 9, Alex Norman offers an interesting discussion on tourism. The following provocative questions are the result of reading this chapter:

How can the image of tourism as basic sightseeing be improved?

How is tourism a religious issue?

Can tourism really be used to promote education?

The following are personal responses to questions 1 and 2.

Improving the Image of Tourism

In his discussion, Norman notes that there are some people who dismiss tourism as simply sightseeing. This definition is too simplistic as it fails to recognize the many roles that tourism can play. However, the definition also offers insights into how tourism is practiced today. To improve the image of tourism, there are various measures that individuals can adopt. Regarding tourism as an avenue for new and exciting adventures is among these measures. Instead of simply touring new places to see new sights, individuals should exploit tourism for new experiences. For example, they should visit places which do not offer a lot that stimulate the eyes. However, these places should allow for rich and meaningful experiences. For example, one could visit a village in India with the goal of understanding the lives of the people in the village. Basically, when tourism is regarded as a tool for gaining meaning from experiences, its role in human life is expanded.

Tourism and Religion

Norman mentions that tourism is closely linked to religion. He shares that there are some religious communities which use tourism as a means for religious expression. Muslims are an example of people whose religious lives are intimately connected to tourism. Islam mandates adherents to visit Mecca if they possess the financial means. Apart from enabling them to fulfill their religious obligations, visiting Mecca also allows Muslims to see a new place and experience a new culture. It is important to note that the role of tourism is not limited to the Islamic faith. It is possible for those who do not necessarily subscribe to particular religions to have religious experiences through tourism. For example, tourism allows one to be in tune with nature. This can be a religious experience which delivers unmatched satisfaction and meaning. Therefore, it is indeed possible for tourism to serve as a platform for religious expression and experience.

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StudyBounty. (2023, September 16). The Religious Nature of Capitalism.
https://studybounty.com/the-religious-nature-of-capitalism-assignment

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