The Fallacy of Success & The Ethics of Elfland: Essays on Culture, Morality, and the Paradoxes of Life

Avarice is a synonym for greed commonly used in religious discussions of the sinfulness of an excessive desire for wealth. In the essay, Chesterton states that avarice is a Christian term for what he believes to be the only “money-making instinct” there is (5). He claims that books about success encourage avarice, which he confidently condemns as a vice in the final paragraph; it is this essay’s chief example of The Viciousness of New Values, though what is new is not greed per se but rather the exultation of it. Chesterton’s ruthless denigration of the concept of a profit instinct does not apply to the separate idea of acquiring wealth, whether through honest or dishonest methods.

Alternatively called the Midas Touch, the golden touch is the magical power associated with a famous Greek myth about the Phrygian king Midas. In the myth, Dionysius grants Midas his wish that everything he touches will become gold. When Midas realizes that he cannot even enjoy a meal because of this power, he regards it as a curse. More recently, individuals who have a talent for turning a profit and seem to always come out ahead are sometimes said to have a golden touch.