Money is the New Religion

The Mall

The upscale mall near us occupies a huge contiguous tract north of the freeway. Its enclosed Main Streets have two levels, open to the non-sky, as if each building had a balcony upstairs connected with its neighbours. At the end of each street is a gussied-up big-box store – two-story of course – opening onto the mall. Stairs, escalators, and flyover bridges connect levels and balconies, so the penitent can wander in wonder through the architecture of the age. Light filters in overhead through cloudy glass. Along the streets and balconies gaudy alcoves harbour treasures and artifacts. Seen from above, the two streets intersect, forming a cross. Soon after it was built, my wife said, That’s our Chartres.


The great cathedrals embody all that was noble and profane in the Middle Ages. Although Chartres was built with remarkable speed, it was a product of several generations. Begun in 1194, it was mostly complete in 1250, by which time many of those involved with the heroic effort were second or third-generation. The stained-glass windows, miraculously preserved through centuries of war and weather, are narrative art for a time when few could read.

But there is more: the cathedral was also a free-trade zone outside the purview of the feudal lord. Merchants set up their stalls in the zone and even in the nave itself, although wine-sellers were occasionally banished to the crypt. Taxes on the stalls were payable to the clergy.

So far the activity is merely profane – that is, secular, or not connected to religion. (Profane is from the Latin pro and fanum: before the temple.) But as human custom tends to, the commercial practices proliferated and evolved, until by the late Middle Ages indulgences had become the Wall Street of the twentieth century or the of the twenty-first. The Butter Tower of Rouen Cathedral was capitalized by selling pardons for the use of butter in Lent.


It seems that mystery is the father of faith. The architects and artisans of Chartres responded to the beauty of the world by doing their best to compete with it. Their homage to God was an artifact and a space that educated and inspired wonder and ascribed God as the author of all. The cathedral was the railroad of the nineteenth century and the airline of the twentieth. Man as artisan constructed huge works from technologies on the edge of human understanding. Did the traveller on the Orient Express understand the physics of the steam engine? Does today’s passenger understand the physics of flight or inertial navigation? Do the viewers (or the makers) of the film Gravity understand orbital mechanics?

Where am I going with this?

I admit I am groping. But we are again today in an age of indulgences. We know that capitalism and free markets are the foundation of democracy – or at least that’s what everyone says. They say that we should bow to the market, should let it decide everything, or else we are threatening freedom and democracy.

Today’s received wisdom is the same as is was in the Middle Ages – only the object of faith has been changed. We understand the market about as well as we understand orbital mechanics. We are invited to have faith in matters beyond our understanding. So we bow not only to technology, but also to the market and the almighty dollar.

The Range of Human Endeavour

We humans span the noble and the profane and continue into the ignoble and the self-serving. It happened with religion after Chartres was built. The practice of indulgences took a few centuries to moulder and spread, but it was one of the principal motivations behind Martin Luther’s ninety-five theses, nailed to the church door in Wittenberg in 1517. Luther said, Wait a minute – this is not what Jesus meant at all. Thus came the Reformation and more wars and Protestantism and Christianity without profit.

Not much has changed in five hundred years. The noble – the making of art and the building of large, co-operative works – is still followed by the profane – normal commerce. But inevitably – and today is no exception –  the profane is followed by the self-serving, and the whole process is debased. We are once again at a crossroads like the one Luther faced down in 1517.

Inventive mankind has gone from barter to money to lending to banking to capital formation to finance. The average man gropes along behind progress, believing in what he cannot understand. Meanwhile elite MBA’s twist the corporation (human co-operative effort) into re-structuring for maximum stakeholder value. (The definition of stakeholder is left to the MBA’s). Banks no longer turn savings into investment capital but instead operate for maximum profit and market share, extracting their cut not as interest but as fees. (There is no interest rate connected with fees, so there is no appearance of usury.) Investment banks invent financial products which they peddle to pension funds and then bet against in the market, making huge profits at the expense of their customers.

These shenanigans depend on our faith and our ignorance. They twist the institutions of our society so they work not for mankind but for a small elite.

This small elite no doubt believes in itself. That, too, is human. Like all of us, they construct a world-view. They are smarter and work harder, and deserve their spoils. Their efforts are a natural winnowing.

But that is their world-view, not the Word of God. There is no reason for us to believe it.

I also understand why we believe in money. It is a matter of survival, and is getting more so every day for us, the great unwashed. But let us not worship money. That can only lead us to suckerdom, as P.T. Barnum famously observed. We would do better to open our eyes and learn and not lose the hope of human co-operative effort toward great things. Perhaps we might even tape a thesis to the door of the mall.

As inspiration we can remember Job, centuries before Christ and millennia before today’s selfish deeds. Covered with boils and tempted by cynicism, he could still say:

I know that my redeemer liveth;

and that he shall stand at the latter day upon the earth:

and though worms destroy this body,

yet in my flesh shall I see God.


Job 19:25