In the video above, John Piper explains why he abominates — or hates — the “prosperity gospel.” He lists several reasons. He rightly says that it is another gospel, and he cites Paul’s teaching in 1 Timothy:
NKJ 1 Timothy 6:6-9 Now godliness with contentment is great gain. 7 For we brought nothing into this world, and it is certain we can carry nothing out. 8 And having food and clothing, with these we shall be content. 9 But those who desire to be rich fall into temptation and a snare, and into many foolish and harmful lusts which drown men in destruction and perdition. 10 For the love of money is a root of all kinds of evil, for which some have strayed from the faith in their greediness, and pierced themselves through with many sorrows.
John also cites our Lord Jesus, when He said that “it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God” (Matt. 19:24). He explains how it is that prosperity preachers actually encourage people to adopt the sinful attitudes that will lead to their destruction.
John then gives as another reason that he abominates the “prosperity gospel” the fact that the preachers of it take their theology to lots of poor people around the world, giving them false hope with a false gospel and taking their money — what little they have — in the process. They also leave many of these Christian people unprepared for the suffering of the Christian life.
John also speaks about how the preachers of the “prosperity gospel” undermine the mission of the Church by teaching people that the suffering necessary is a bad thing. On this point he also speaks of the over-realized eschatology of the “prosperity gospel.”
John ends the video by saying:
It’s a tragic thing that one of our greatest exports of America is the prosperity gospel. People are being destroyed by it. Christians are being weakened by it. God is being dishonored by it. And souls are perishing because of it. And a lotta guys are getting rich on it!
I recommend watching all of this excellent video. It is just over ten minutes long, and it is well worth the time.