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Rediscovering Values: On Wall Street, Main Street, and Your Street

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When we start with the wrong question, no matter how good an answer we get, it won’t give us the results we want. Rather than joining the throngs who are asking, When will this economic crisis be over? Jim Wallis says the right question to ask is How will this crisis change us?

The worst thing we can do now, Wallis tells us, is to go back to normal. Normal is what got us into this situation. We need a new normal, and this economic crisis is an invitation to discover what that means. Some of the principles Wallis unpacks for our new normal are . . .

• Spending money we don’t have for things we don’t need is a bad foundation for an economy or a family.

• It’s time to stop keeping up with the Joneses and start making sure the Joneses are okay.

• The values of commercials and billboards are not the things we want to teach our children.

• Care for the poor is not just a moral duty but is critical for the common good.

• A healthy society is a balanced society in which markets, the government, and our communities all play a role.

• The operating principle of God’s economy says that there is enough if we share it.

• And much, much more . . .

In the pages of this book, Wallis provides us with a moral compass for this new economy—one that will guide us on Wall Street, Main Street, and Your Street.

Embracing a New Economy


Getting back to "the way things were" is not an option. It is time we take our economic uncertainty and use it to find some moral clarity. Too often we have been ruled by the maxims that greed is good, it’s all about me, and I want it now. Those can be challenged only with some of our oldest and best values—enough is enough, we are in it together, and thinking not just for tomorrow but for future generations.

Jim Wallis shows that the solution to our problems will be found only as individuals, families, friends, churches, mosques, synagogues, and entire communities wrestle with the question of values together .

272 pages, Hardcover

First published December 26, 2009

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About the author

Jim Wallis

88 books201 followers
JIM WALLIS is a globally respected writer, teacher, preacher, justice advocate, regular international commentator on ethics and public life, and mentor for a new generation. He is a New York Times bestselling author of twelve books, including Christ in Crisis, America's Original Sin, God's Politics and The Great Awakening. Wallis is the Founder of Sojourners. He served on President Obama's White House Advisory Council on Faith-based and Neighborhood Partnerships and has taught faith and public life courses at Harvard and Georgetown University. "Coach Jim" also served for 22 seasons as a Little League coach for his two baseball playing sons.

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Displaying 1 - 30 of 33 reviews
Profile Image for Scott Rhee.
2,262 reviews147 followers
March 18, 2014
Jim Wallis is helping to restore my faith in Christianity. Christian preacher, speaker, and CEO of Sojourners magazine, Wallis is both a Christian AND a liberal. His Sojourners magazine, of which he is also editor-in-chief, helps to highlight major social justice issues from a Christian perspective.

As someone who was beginning to feel that being a liberal Christian was a lonely (and even oxymoronic) existence, I am happily renewed in the knowledge that there are many more liberal Christians out there than I once thought. I don't feel so awkward anymore in calling myself a Christian while believing in things like gay rights, environmentalism, and helping the poor.

Wallis has written several books, all highlighting his thoughts on faith, politics, and social justice. In "Rediscovering Values: A Moral Compass for the New Economy", Wallis tackles the issues of the economy during this Great Recession. It is a refreshing, hopeful, and important book.

In the first part of the book, Wallis examines how we arrived at this difficult time in our economy. It is, Wallis claims, through a philosophy of institutionalized greed, rampant self-interest, and out-of-control consumerism that contributed to the current mess we are in. Several other factors seem to be preventing us from getting out of the quagmire.

One is what Wallis calls "the Great Lie": a cultural belief that "claims that those who are wealthy are so because they are responsible and righteous, and those who are poor must be irresponsible or even immoral. The rich have done all the right things, and the poor must have done something wrong. It is the belief that great physical riches indicate that God must be pleased with your actions and that poverty suggests God's disfavor and even punishment. (p. 90)"

This helps to explain the apparent vitriol and hatred that many politicians and fundamentalists harbor against the poor, the "welfare queens" and ungrateful masses suckling at the teat of the government's entitlement programs.

Another factor is the antagonism and unwillingness to even address the concept of "redistribution", a word that Wallis claims has unfortunately become virtually a four-letter word and one that results in political suicide for anyone who tries to address it. "The R word", as Wallis calls it, is "a bad word that no "responsible" person is allowed to say out loud. It would plunge us into "class warfare"!"

He adds, "And yet, redistribution is exactly what the most wealthy and their political representatives have accomplished---redistribution to them, with little attention and even less accountability. They're right; it is class warfare. And the upper class has won the battle for the last three decades---at the expense of the poor and middle class and the health and well-being of the economy, and at the cost of some very important social values. (p.83)"

Tied in to this Great Lie and anti-redistribution mentality is an attempt to stifle any criticism or questioning of the actions and behaviors of the rich. For example, after the bailouts of 2008, some of the banks who were rescued began to give out record compensation bonuses to themselves. Meanwhile, average workers' wages continued to drop and the unemployment rate continued to rise. Wallis writes, "Yet today, if anyone questions whether these bonuses are actually deserved and whether we, as taxpayers who financed all of this, should be able to share in any of the profits, they are accused of being a socialist, a communist, or worse. (p.222)"

Wallis provides wise counsel, most of which is derived from Scripture, but he is also quite fond of quoting some of our Founding Fathers, and their thoughts on the subject. He provides some useful suggestions as to how we, as individuals, can change the system and restore our economy. If you, like so many others, are upset at how the economy does not seem to be improving in ways that matter, and if you are a person of faith (Christian or otherwise), Wallis's book is highly recommended reading.
Profile Image for Lynn Ferina.
19 reviews1 follower
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March 17, 2010
I thought it was a great book. A lesson for the faith community to become involved and speak out about your values. Let the politicians know how you feel and that you want to know what their values are before you vote for them. If there was ever a book to read for this economic crisis, to better understand the countries need to rediscover their values to save our nation, it's this book. A great book to motivate you to action. Read it Now.
2 reviews31 followers
July 3, 2010
NPR interviewed the author a few weeks ago and I loved the interview. I downloaded it and had my husband listen to it and we enjoyed it so much. I immediately reserved the book from the library (glad I didn't buy it). It was a disappointment. My recommendation is to skip the book and just listen to the interview. The same research and stories are told, minus all the self-congratulatory authorial comments. It wasn't particularly well written, although I think the idea is right on.
20 reviews
January 27, 2010
Excellent read on what is wrong with our country's state of business. Highly recommend it. One caveat: it's a macro level discussion with some micro useful suggestions. Not a practical use book. More high level.
Profile Image for Chuck Engelhardt.
146 reviews1 follower
July 1, 2015
I read Jim Wallace to keep myself honest. Although we share the same faith we interpret world situations much differently and see very different solutions to the problems the world faces. I often find myself at odds with Jim Wallace’s approach because he equates public responsibility with political action. So, as I interpret Jim’s view, if we are aware of hungry children, the Christian must insist that the government make sure that they are fed; not the Church, the government is the preferred avenue for remedy. With that said, in Rediscovering Values: On Wall Street, Main Street, and Your Street: A Moral Compass for the New Economy I found much more in common with Pastor Wallace than disagreement.
Within Rediscovering Values there are at times either significant ignorance of the facts or intentional ignore-ance of them. In many cases I am sure that Jim Wallace is quite simply the victim of poor sourcing. The cited sources may say exactly what Jim quotes, the problem is that the chosen source was outdated, in error, or extremely partisan in its expression of the facts. I discovered documentable errors or misrepresentations of facts concerning FDA Inspections, mine waste discharges, the Walton family, and Reagan removing the solar panels from the Whitehouse to mention just a few. Obviously I didn’t track down all the claims of the book, just ones of which I had prior knowledge or that simply didn’t make sense to me. In my opinion these inaccuracies unfortunately place a cloud of suspicion over the whole book. Oh yes, everything wrong in the world, by the way, is the fault of business and Republicans. When government is questioned, it is never for creating regulation with unintended consequences, it is for not creating enough regulation to keep greedy businesses in check.
At heart I agree with Jim Wallace’s premise that returning to the same conditions and processes that resulted in a disastrous end, continuing to do things the way we’ve always done them, and failing to learn from our experiences is foolish and dangerous. I also agree that long term vision is a positive thing and that greed is not good; contrary to the movie quote. At the beginning of the book, Wallace introduces the idea that “If we ask the wrong questions, no matter how good of an answer you get, it won’t matter very much.” I thought this brilliantly framed the problem the book is meant to address. Too often we simply ask the wrong questions.
Without really giving anything away, I was fascinated by his description of an experiment that tested the impact of “hurry” on people’s behavior. That was actually quite convicting. I am also very positive on his discussion of the entitled rich, pride, and wants vs needs; and how what we buy impacts the type of people we become. Kudos.
Finally, his general conclusion, not the specific action portion, is spot on; the change necessary requires that we change and that isn’t easy.

Overall, a pleasant surprise.
Profile Image for Dan.
182 reviews38 followers
August 6, 2016
Written towards the end of the Great Recession, Jim Wallis' book continues to offer sound wisdom for addressing the economic and social inequality that still lies deeply rooted in the US.

Wallis offers examples of CEOs and Wall Streeters who made $249 million to over $1 billion in a year. And the Walton Family, of Walmart, who were worth $95 billion in 2009.

On the heals of these examples, Wallis notes: "There are enormous sums of money now going to the people on the top that cannot be justified, even economically, but certainly not morally and spiritually," he writes.

But no one, except for recent presidential candidate Bernie Sanders, wants to discuss redistribution. Despite the fact that "there is a great religious tradition of redistribution in all the faiths. Caring for the poor and needy through the giving of alms is one of the five pillars of Islam, a consistent theme through the Jewish Torah, and one of the most distinguishing characteristics of the earliest Christians."

Why should we care about economic and social inequality? "Ultimately, the common good is about our own good."

Given the current political climate in the US, Wallis' insights seem almost prophetic.

Wallis' take on the Tea Party is spot on. "Our Founding Fathers and the leaders of of the American Revolution are sometimes painted as simply antitax and antigovernment fanatics. They weren't. Their rallying cry was against taxing a populace that had little or no democratic input into their government."

Wallis uses the well-know story of the multiplication of the loaves and fishes to make the point that "God's economy is not our economy." The lesson learned is that when the boy who had a very small amount of food turned it over to Jesus, allowing Him to share it, then there was more than enough.

"God's economy teaches us that when we share, things tend to multiply. And in God's economy we learn that what we think we know about the world is not how the world has to be."

Writing as the Great Depression was still being felt with double-digit unemployment still rampant, Wallis nonetheless finds hope. He points to the Old Testament example of Nehemiah, who rallied Jerusalem's residents to rebuild the wall to their city.

Wallis points to his hometown of Detroit as an example of American cities shaking off the shackles of hopelessness "with people ready to overcome adversity and commit themselves to the common good. The city needs a political conversation, an economic conversation, a community conversation, and a whole lot of personal conversation as well - we all do."

For those interested in social justice, Wallis' book is a must read.





Profile Image for Michael.
1,753 reviews5 followers
March 20, 2011
I like Jim Wallis, and I was saddened to see him show up on Glenn Beck's maniacal chalkboard a year or two ago. Wallis is a dedicated Evangelical Christian whose sole concern in this world seems to be helping poor people. Yes, he's become quite associated with the Democratic Party since 2004, but whatever. I tend to disagree with some of Rev. Wallis's conclusions since he tends to fall back on the tried and true liberal mantra of "more taxes/more spending/more government," but this book was different. Essentially, Rev. Wallis says that the Great Recession is an opportunity for all of us--individuals, church members, and citizens-- to take stock of what got us where we are, and to think about how to avoid such a catastrophe in the future.

Society, according to the author, is a like a three-legged stool: there are the markets, the public sector, and the civil sector. Essentially, he means Wall Street, the government, and voluntary organizations like churches. America (and in some sense, the rest of the world) have allowed the markets to become too influential; their leg of the stool has grown too long and caused the whole thing to tip over. What I liked about this book is that it's not just a long jeremiad against Wall Street (although that is certainly justified). Rev. Wallis spends a great deal of time pointing out the very poor choices made by individuals with regard to their finances, as well as the damn near deafening silence of the Church (all denominations) in the face of America's most glaring vice: greed.

I liked this book, and I was pleased to see that my family has already made many of the changes Rev. Wallis suggested. I think I've read all of Jim Wallis's books so far; this was by far my favorite.
Author 36 books4 followers
May 5, 2010
Genre: Christian but only cites scripture on occasion. This is an amazing book, pointing out how the rich have gotten richer (e.g., the CEOs of Fortune 400s own 50% of America's wealth; the CEO of WalMart makes a paltry $17.5 million a year, so earns in every 2 weeks what the average WalMart worker makes in his/her lifetime) and the poor are, well, unemployed with little hope. Wallis talks about how Wall Street has taken over: we've been hoodwinked into thinking that if we work hard, buy a home and save into our 401(k), we will achieve the American dream. Meanwhile, the fat cats have manipulated the market to the point that our livelihoods and our futures have been raided. Ultimately, he calls for a redistribution of wealth; why should we have such disparity in our society?? I found this book a fascinating read and thought about rating it 5 stars (because of course I agree with everything he says), but I could have done without the slightly religious aspect of it (I can get that elsewhere).
Profile Image for Shirley Freeman.
1,338 reviews16 followers
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March 15, 2013
We read this for the all-church book read. Published 3-4 years ago, it felt slightly dated. Wallis critiques American culture and the American economic system and concludes we are too greedy, consumerist, short-sighted and focused on 'me' rather than the 'common good.' It's hard to argue with that assessment. He refers to our system as a three-legged stool that is out of balance. One leg is government, one is the market and the third is made up of churches, mosques, synagogues and all the voluntary associations where we come together with others to focus on the common good. There are plenty of examples in the world where the stool became unbalanced in favor of powerful government. He feels that our country is an example of the stool becoming unbalanced in favor of a powerful market. Wallis calls for discussion and action on the part of that third leg to rein in the other two forces and maintain cultural and economic balance. I didn't always agree with some of his specific prescriptions but he does provide food for thought.
Profile Image for Shaun.
671 reviews9 followers
August 30, 2012
The author was very liberal in his political persuasion, leaning way to the left. I found this very annoying, but he did have some good points to make. He talked about us becomming a more generous people, which I know we (I) can definitely improve. I gained some insight as he shared the miracle where Jesus fed the multitude of 5,000 with some meager fishes and bread loaves. He said that someone had to give up their fish and bread so Jesus had something to work with. I could see that if I had just enough to support me, I may have just kept it to myself. I know I can improve in this area. The author told us we needed to develop a moral compass for the new economy, but his idea of the new economy was way too politically left leaning for my comfort. We need to be more generous, but should not be forced to do so. I found the book engaging an interesting in parts, but just too liberal for my tastes.
22 reviews
April 3, 2010
While I found this to be a good read, it was too simplistic for me. His arguments about what is wrong and caused the recession I've heard from many others. I wanted more on what changes people could make both personally and as a society. Short on that. Does a good job of showing the lack or morals/values by the leaders of many businesses and the problems of wage loss and income inequality at a level seen only prior to the great depression. Those who need to read this book to concentrate on getting their value system "fixed" wont read it.
16 reviews25 followers
October 20, 2010
I agree with many of the other reviewers. The message is necessary - we have been a consumer culture for decades, and now we see the bad effects (recession, anyone?).

The writing style, however, is a bit simplistic and, at times, repetitive. However, Jim Wallis uses great examples (WalMart CEO makes BILLIONS of dollars every year) and anecdotes to paint of a picture of how we are called to live sustainably, simply, and holistically.

This is message worth spreading to business leaders and politicians from all viewpoints.
Profile Image for David.
75 reviews2 followers
February 28, 2011
Timely, refreshing, practical and prophetic, Wallis challenges us to learn from the Great Recession by rediscovering and embracing the values our faith teaches us, value lost in our "greed is good" culture. He makes the case for a healthy, balanced collaboration between public and private sectors (government and business), joined by the faith community, and challenges us as individuals to make sustainable choices and sew seeds of growth for a new economy.
Profile Image for Zoe Franklin.
20 reviews2 followers
February 12, 2013
Excellent and challenging book. Fell short of 5 stars because I felt that the ending and it's suggestions didn't live up to the potential of the earlier chapters. My takeaway from the book is the concept that a budget is a moral document. In my line of work in local government it is a timely reminder that the budgets I help to set and approve speak loudly of our commitment (or not) to the most vulnerable society.
Profile Image for Olivia Hill.
8 reviews1 follower
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June 3, 2013
I absolutely loved this book. Jim Wallis has all the answers and they lie in VALUES. Why is it so difficult for us to adopt and cling to what we know are good values? I have to agree with the author on most counts, ie that this great country, the United States of America, is starving for want of good values. Let us strive to bring back those values and instill in our children the desire to adopt and guard jealously those values we know to be eternal.
Profile Image for PJC.
30 reviews
February 28, 2016
After finishing this, I had to think of who to give it to to read next. A lot of points are made that are as relevant today as when it was written six years ago. It even mentions Trump and Sanders and their different stances in politics and the economy. It may not be such a good thing for us that the situation in the book hasn't changed all that much in that time, but the message is the same as it was then; that there's hope for the better if we can all work together for it.
103 reviews2 followers
March 3, 2010
I skimmed this book. I found a lot in it that was common sense but needed to be said and can be used as a national dialogue to restore a better feeling in the US. We need to get rid of the "greed is good" and "look out for #1" mentalities and focus on "we're in it together." The author, a religious leader, makes the point that the consumer society that we have is antithetical to Christianity.
Profile Image for Leroy Seat.
Author 11 books16 followers
October 11, 2010
Maybe it is because I have read so much Jim Wallis has written, but I didn't find much new or "exciting" in this book. But it is a good book with a lot of important content. It is also a timely book, as it deals directly with the economic problems in the U.S. now.

I highly recommend this book, especially to those who haven't read much by Jim Wallis.
Profile Image for Lauree.
215 reviews
September 27, 2012
I am so proud of the United Methodist Church for recommending that all United Methodist women read this book. I share the values and frustrations expressed in this book and aspire to do more to help resolve these issues. I will be using www.rediscoveringvalues.org as a tool to decide what I can do,
Profile Image for Donna.
75 reviews
July 23, 2016
Just some quotes I've taken away : "There is never enough must be replaced by the dictums of God's economy; namely, there is enough, if we share it." p.40
"The problem comes when 'I am special' turns into 'I am an exception'. When 'I believe in myself' becomes 'I do not believe in others.' " p.56
"Ethics becomes a luxury as the speed of our daily lives increase" p.62
Profile Image for Darin Stewart.
99 reviews10 followers
July 21, 2010
A bit disappointing, especially after God's Politics, but an important message just the same. A very quick read that would work nicely as a book group book (though I'm sure some of the more conservative ladies would be scandalized).
Profile Image for Beverly.
406 reviews
November 21, 2010
I am not a business person, but I am touched and enlightened by the love and wisdom of Jim Wallis - business wisdom, spiritual wisdom and life wisdom. He is my new mentor. Oh, what a country we could be if he was every business person's mentor.
24 reviews
June 9, 2011
Jim Wallis is Jim Wallis. He's a good motivator, and I enjoy the action steps in the last chapter of the book. We all have a responsibility in creating a new economy based on PEOPLE not PROFIT, and he touches on that concept often.
Profile Image for Kim.
200 reviews
February 21, 2012
This was okay. A lot was common sense to me, but I guess considering the shape our country is in, it isn't common sense to many others. The book was a little dry, but he brought up many good points. If you care to read about political issues with a Christian perspective, this would be suitable.
91 reviews
September 30, 2012
Mr. Wallis is a respected 'prophet' so to speak, in our day. He does his homework in that he ot only cites issues, but also possible changes that would make a difference - coming out of his faith in God and the value of all persons.
8 reviews
January 7, 2014
Food for thought. A look at the economy from a Christian perspective. Explores how greed, "I want it now",and "it's all about me", have made us blind to our neighbors and endangered the environment.
414 reviews4 followers
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July 13, 2014
An interesting book with a solid message, though it got a little repetitive at times. I listened to the audio book, read by Wallis himself and while he is a brilliant man, he is not the most engaging narrator. I think this would perhaps be a good book to have and occasionally brush up on.
Profile Image for Tim.
176 reviews4 followers
March 6, 2010
This was a very interesting book and I look forward to reading more of his.
6 reviews
Currently reading
March 1, 2010
Supports my working with Health Care Reform and educational advocacy. I am hoping that my church uses it as a book study. Reading it in between my school reads
Displaying 1 - 30 of 33 reviews

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