Can the recent Financial Crisis be a Catalyst that pulls us back towards virtues?

You may not be aware, but I grew up in the Methodist Church here in Cedar Rapids, Iowa USA. Like my sister and brother before me, I was headed to university at the University of Iowa, after graduation from high school. However, I decided to take a final and closer look at Creighton University in Omaha, Nebraska USA, one of the many fine Jesuit universities in the USA. I opted not to attend Iowa and attended Creighton instead. The rest is history


As an alumnus of Creighton University, we receive a quarterly magazine called "Creighton." This week we received our Summer 2009 issue of the magazine. By the way, Carole and I met at Creighton University, during my junior year, Carole's freshman year.


Many aspects of the following article by Ken Washer, (pictured, right) DBA, CFA and Associate Professor of Finance at Creighton really hit home for me ...

• My faith, my Methodist roots
• My belief in limited government
• My fond memories of alma mater, Creighton University
• The values and virtues passed on by my family

The Christian theologian and founder of the Methodist Church, John Wesley,
preached: “Earn all you can, save all you can, and give all you can.” He
encouraged hard work in “honest industry,” along with limited spending. Wesley
argued that to not use your money to support a good cause is to simply “throw it
away.” - Ken Washer, DBA, CFA

The article by Professor Washer is titled: Earning, Saving and Giving: Have We Lost Our Way?

Other highlights that hit a cord ...

Are these sound economic principles that we should pass on to the next
generation or are they impediments to economic growth? Do we Americans live
these values or has our motto instead become, “Borrow all you can, spend all you
can, receive all you can”? Perhaps it is not that extreme, but our society
appears to be moving in that direction.

• Borrow All You Can?
• Spend All You Can?
• Receive All You Can?

John Wesley was indeed correct when he preached to earn all you can through
honest labor, save all you can through disciplined spending and give all you can
to worthy causes. When we live these things, we not only benefit ourselves, but
we benefit the world.

We hope Professor Washer is right ...

Perhaps the recent financial crisis will be the catalyst that pulls us back
toward these virtues.

We need to promote sustainability to our families, our friends, our neighbors, our customers and those needing a helping hand. We hope you can take an opportunity and read the article and reflect on it. We need better discipline and better public policy today.

peace

Robin Tucker