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“Perhaps there is no better illustration of the ethical impotency of the modern church than its failure to deal with the evils and ethical problems of stock manipulation. Millions in property values are created by pure legerdemain. Stock dividends, watered stock and excessive rise in stock values, due to the productivity of the modern machine, are accepted by the church without murmur if only a slight return is made by the beneficiaries through church philanthropies [1927].” — Reinhold Niebuhr
Perhaps there is no better illustration of the ethical impotency of the modern church than its failure to deal with the evils and ethical problems of stock manipulation. Millions in property values are created by pure legerdemain. Stock dividends, watered stock and excessive rise in stock values, due to the productivity of the modern machine, are accepted by the church without murmur if only a slight return is made by the beneficiaries through church philanthropies [1927].