God's Golden Hoard

Discoveries in an Indian temple confirm that religion can be a very effective wealth creation scheme

"If you want to get rich," advised L. Ron Hubbard, "start a religion". Today's news from Kerala, that archaeologists investigating the long-neglected vaults of the Thiruvananthapuram temple have unearthed treasures worth up to £12 billion, suggests that his maxim wasn't simply a reflection of 20th century cynicism. God has long been where the money is.

The Indian temple's treasuries haven't yet been fully explored, but already they have yielded up tons of gold coins, sacks overpouring with diamonds and rubies, and spectacular individual items including a six-metre long necklace. Kerala chief secretary K Jayakumar estimated the total value at 500 billion rupees (around £7 billion); while other sources put it at more than $23 billion. No-one really knows, of course, and such figures are highly speculative. But it's certainly an awful lot.

The treasure represents the accumulation of centuries. The temple dates back to at least the 8th century and for many years was under the protection of the royal dynasty of Travancore. Its position at the hub of trade routes helped it grow rich with the offerings of passing merchants and wealthy pilgrims. Much of the wealth, though, seems to have been locked away and forgotten about until a recent decision of the Indian Supreme Court ordered the contents to be itemised and secured.

Though the quoted sums may equal the entire Indian education budget, there seems little prospect of a sell-off. This is sacred treasure, after all, not just loot. The hoard may make the temple of Thiruvananthapuram officially the country's richest, but there are several others whose wealth is known to run into billions of dollars and many more whose precise holdings remain unclear.

It has also just been revealed that the guru Sai Baba -- best known for his Afro hairstyle and for performing a conjuring trick with "sacred ash" -- left behind property worth around £5.5bn when he died in April. The world's richest Christian pastor, by contrast -- Nigeria's Bishop David Oyedepo -- has to make do with a paltry $150 million, although that is enough to keep him in four private jets as well as homes in London and the United States.

In scenes strangely similar to those in Kerala, officials at Sai Baba's ashram recently decided to investigate the guru's private chambers, previously off-limits to everyone bar himself and a single assistant who alone understood the security. They found treasures of £1.6 million in rupees and 98 kilos in gold, worth almost £3 million at today's prices. But that represented only a small part of his accumulated wealth from what Gethin Chamberlain tartly described as "a lifetime of claiming to be the incarnation of God."

But why single out India? We may be accustomed to drawing a sharp distinction between things spiritual and temporal, between filthy lucre and religious transcendence, but for long as temples have existed they have proved effective as money magnets. Some economic historians argue that organised religion began as a mechanism for collecting and redistributing resources. The gods, like middlemen everywhere, would have taken their cut.

Jesus may have told the rich young man to sell all he had and give it to the poor, but the Christian churches have rarely applied that stricture to themselves. Instead, the wealthy were encouraged to ease their passage through the eye of the needle by giving (or at least leaving) their money to God. It was an offer many kings, aristocrats and bankers felt unable to refuse. Some of the results are currently on show at the British Museum's aptly titled Treasures of Heaven exhibition. Featured are bejewelled boxes, golden crosses, gilded disembodied limbs and other striking pieces of medieval bling, all designed to contain the saintly bones and other relics that for centuries formed a vital element in popular and elite religion.

As Martina Bagnoli points out in one of the essays in the catalogue accompanying the show, the precious reliquaries were not simply containers of spiritual treasures whose value was unquantifiable, they were also ways of storing up material wealth. In Mainz, a solid gold cross weighing 600lb was made in 983. Bits of it were chopped off and melted down during various emergencies over the following two centuries. By 1161 there was nothing left.

But other sacred treasures have been better preserved, and while no-one has (so far as I know) tried to put a value on every cathedral, artwork, statue and piece of real estate owned by the various parts of the Roman Catholic Church it would surely dwarf even that of the Thiruvananthapuram temple. Or, for that matter, the estimated $30 billion assets of the Utah-based Mormon Church. An even bigger -- and probably impossible -- job would be to establish what proportion of the world's tangible wealth is held by religious organisations of every kind.

After all, it pays to invest for the long term. And you can't get much longer-term than eternity.

Belief, disbelief and beyond belief
Getty
Show Hide image

There's nothing Luddite about banning zero-hours contracts

The TUC general secretary responds to the Taylor Review. 

Unions have been criticised over the past week for our lukewarm response to the Taylor Review. According to the report’s author we were wrong to expect “quick fixes”, when “gradual change” is the order of the day. “Why aren’t you celebrating the new ‘flexibility’ the gig economy has unleashed?” others have complained.

Our response to these arguments is clear. Unions are not Luddites, and we recognise that the world of work is changing. But to understand these changes, we need to recognise that we’ve seen shifts in the balance of power in the workplace that go well beyond the replacement of a paper schedule with an app.

Years of attacks on trade unions have reduced workers’ bargaining power. This is key to understanding today’s world of work. Economic theory says that the near full employment rates should enable workers to ask for higher pay – but we’re still in the middle of the longest pay squeeze for 150 years.

And while fears of mass unemployment didn’t materialise after the economic crisis, we saw working people increasingly forced to accept jobs with less security, be it zero-hours contracts, agency work, or low-paid self-employment.

The key test for us is not whether new laws respond to new technology. It’s whether they harness it to make the world of work better, and give working people the confidence they need to negotiate better rights.

Don’t get me wrong. Matthew Taylor’s review is not without merit. We support his call for the abolishment of the Swedish Derogation – a loophole that has allowed employers to get away with paying agency workers less, even when they are doing the same job as their permanent colleagues.

Guaranteeing all workers the right to sick pay would make a real difference, as would asking employers to pay a higher rate for non-contracted hours. Payment for when shifts are cancelled at the last minute, as is now increasingly the case in the United States, was a key ask in our submission to the review.

But where the report falls short is not taking power seriously. 

The proposed new "dependent contractor status" carries real risks of downgrading people’s ability to receive a fair day’s pay for a fair day’s work. Here new technology isn’t creating new risks – it’s exacerbating old ones that we have fought to eradicate.

It’s no surprise that we are nervous about the return of "piece rates" or payment for tasks completed, rather than hours worked. Our experience of these has been in sectors like contract cleaning and hotels, where they’re used to set unreasonable targets, and drive down pay. Forgive us for being sceptical about Uber’s record of following the letter of the law.

Taylor’s proposals on zero-hours contracts also miss the point. Those on zero hours contracts – working in low paid sectors like hospitality, caring, and retail - are dependent on their boss for the hours they need to pay their bills. A "right to request" guaranteed hours from an exploitative boss is no right at all for many workers. Those in insecure jobs are in constant fear of having their hours cut if they speak up at work. Will the "right to request" really change this?

Tilting the balance of power back towards workers is what the trade union movement exists for. But it’s also vital to delivering the better productivity and growth Britain so sorely needs.

There is plenty of evidence from across the UK and the wider world that workplaces with good terms and conditions, pay and worker voice are more productive. That’s why the OECD (hardly a left-wing mouth piece) has called for a new debate about how collective bargaining can deliver more equality, more inclusion and better jobs all round.

We know as a union movement that we have to up our game. And part of that thinking must include how trade unions can take advantage of new technologies to organise workers.

We are ready for this challenge. Our role isn’t to stop changes in technology. It’s to make sure technology is used to make working people’s lives better, and to make sure any gains are fairly shared.

Frances O'Grady is the General Secretary of the TUC.