According to Wikipedia, The Prosperity Gospel is defined:
Prosperity theology, also known as prosperity doctrine or the Prosperity Gospel, is the doctrine that prosperity, particularly financial prosperity, and success in business or personal life is external evidence of God’s favor. This favor may be preordained, or granted in return for efficacious prayer or merit-making.
I think John Piper hits the nail square on the head:
[youtube=http://www.youtube.com/watch?v=PTc_FoELt8s]
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