Book Reviews: In God We Trust: Morally Responsible Investing by George P. Schwartz

We all have our own belief systems—religious, political, social, etc.—and we try to follow these beliefs in everything we do. They influence how we interact with others, the causes we support, and even where we spend our money. Yet when it comes to investment, a troublesome question arises: if we only invest in companies which share our values or avoid ones which directly violate them, will we ever be able to make a profit? The subject of today’s review, In God We Trust: Morally Responsible Investing by George P. Schwartz, shows that this practice is not only capable of turning a profit but can also help us influence the world for the better.

In God We Trust introduces readers to a concept which the author calls “Morally Responsible Investing”. Through a mixture of personal anecdotes, statistics, history, and financial and moral advice, Schwartz guides readers through the ins and outs of Morally Responsible Investing, including what it is, what it takes to partake in this investment practice, and the benefits of investing in this manner. Along the way, Schwartz shows readers his own history with Morally Responsible Investing and how the Catholic-values-based firm, Ave Maria Mutual Funds, achieved its high level of success.

Immediately I must point out that the readers who will benefit most from this book will have two very specific beliefs: pro-life and anti-pornography. In particular, Catholic investors or potential Catholic investors will find Schwartz and Kennedy’s views and approaches most helpful. However, there is no discrimination against non-Catholics in this book; so long as you are pro-life and anti-pornography and wish for your investments to reflect these beliefs, In God We Trust is for you.

The author’s religious, moral, political, and financial opinions will also be a significant turn-off for readers with more liberal views, specifically the chapters which go in-depth about abortion and pornography. As I myself am a liberal agnostic, the book often did not mesh with my own beliefs. Regardless, it was fascinating to read about a successful example of basing investments on how well a company’s morals align with one’s own. Perhaps one of the most universal concepts in this book, one which could help anyone of any belief system while investing, comes from the first page of the introduction:

When we invest in a company, we become an owner, and our investment contributes to the company’s success. Are we comfortable with what we own? Does the enterprise reflect our core beliefs? If not, what opportunities exist to invest in a manner that does reflect these beliefs?

George P. Schwartz, In God We Trust, Loc 93 of Kindle eBook

While Schwartz occasionally offers these bits of self-reflection which would be applicable when investing based on any number of morals, I must emphasize that this book is prominently about Morally Responsible Investing—which focuses on supporting “the sanctity of life, marriage, and the family”—rather than Socially Responsible Investing, which covers a wide variety of economic, political, and environmental issues. In God We Trust is most certainly a niche book, but one which its niche will find incredibly valuable.

Putting aside any religious, moral, or political differences I may have with Schwartz, In God We Trust is written very well. Despite its potentially dry subjects—investment and morality—the author maintains a personable, engaging tone throughout the book. Even when discussing the more technical aspects of how finances and investment—particularly Morally Responsible Investing—work, the writing feels as though I am having a conversation directly with Schwartz. His passion as well as his knowledge of these subjects seeps through every word, and readers are bound to feel it.

In addition to laying out the basics of Morally Responsible Investing and showing how it can be successful, Schwartz provides readers with a list of discussion questions for each chapter. These questions, while related to the subject of its corresponding chapter, are open-ended and allow for the readers to think more deeply about what they have read. With these questions, readers can learn to understand the concepts this book has shown them better as well as discuss them with other like-minded investors or potential investors.

The book is not perfect, though. It is well-researched, and this research has been carefully documented so that readers will be able to look into these subjects further. In fact, Schwartz places a list of sources after every chapter which calls for it. While I always appreciate when writers cite their sources, this constant interruption after so many chapters disrupts the flow of the overall book. For me, it proved to be quite the annoying and unnecessary distraction since the sources could have been compiled into one complete list of sources at the end of the book along with the appendices and index.

In addition to this larger disruption, I also noticed multiple incidents when words should have been hyphenated but were not. The average reader will most likely not even notice these errors. Still, as I am so detail-oriented and a stickler for proper grammar in most cases, this lack of hyphenation acted as a minor distraction during my reading.

Overall, In God We Trust by George P. Schwartz is a thought-provoking and interesting read. It clearly details what Morally Responsible Investing is while also giving insight into the author’s background and a real-life example of this investment approach working. The concepts are easy to digest, and the discussion questions make it even easier to understand and share these ideas with others. The book’s organization in regards to the resources could have been better and additional proofreading would have been helpful, but otherwise In God We Trust has been handled very professionally in its writing and publication. Catholics and others who are pro-life and anti-pornography will want to check this book out if they are interested in investment which aligns with their values. If you have more liberal views, though, you will probably want to avoid In God We Trust.

You can buy In God We Trust in print or as an eBook or in hardcover on Amazon.

Do you know of any books I should and review? E-mail me at thewritersscrapbin@gmail.com and let me know!