The Bible clearly explains the role of government in society and the framers of our nation built America on Biblical principles. Since economics is the science that deals with production, distribution, and consumption of goods and services, Christian economics entails how men use God-given resources, ideas, and energy to meet their human needs and to glorify the Lord. Christianity produces internal liberty in man, which is the foundation for a Christian economy. The internal change of heart that Christ brings produces Christian character and self-government which is necessary for an economy to be prosperous. Christian character and self-government produce people who do not steal, who have a strong work ethic, and who save and invest to …show more content…
Money makes exchange much easier, because people can trade their goods for money and use the money to buy other things. In the Bible money was silver or gold, a precious metal, and America was on a gold standard throughout most of her history. In 1933 we shifted to a silver standard and in 1968 our silver certificates were replaced with Federal Reserve Notes (Remy, 2008). Today’s paper money is not backed by anything except the government’s promise that it is good. Money with no precious metal backing allows the central government to spend more than it collects in taxes, because the Federal Reserve Board can print new money, thus increasing the money supply, anytime there is a need. This is what causes inflation and is one way that the Federal Reserve Board has overstepped Biblical principles in economic policy. Greg Anthony writes that “one of the Biblical signs of a nation backsliding is the condition of its currency and the degree of honesty in its weights and measures” (Anthony, 1988, p. 28). When the money supply is increased, either through printing more money or credit-expansion, the purchasing power of the dollar falls, and businesses must increase the prices they charge to keep up with their own higher costs. Inflation encourages debt, deceives people about pay increases and future wealth accumulations, is a hidden theft tax, and decreases capital available for …show more content…
Henry Hazlitt states, “The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups” (Hazlitt, 1979, p. 17). Leviticus 19:35-37 compels, “You shall do no wrong in judgment, in measurement of weight, or capacity. You shall have just balances, just weights, a just ephah, and a just hin: I am the Lord your God, who brought you out from the land of Egypt. You shall thus observe all My statutes, and all My ordinances, and do them: I am the Lord.” According to Proverbs 22:7, people will always be slaves to the lender as demonstrated by the Federal Reserve System violating Biblical values in economic
In the essay “Judaism and Economic Reform”, Norman Solomon, a Jewish-American journalist, presents a compelling argument on the basis of the need for economic reform while providing simple religious base solutions. While discussing two major economic problems that plague the world’s current economy, Solomon introduces the Jewish view of the global economy and their general view on economics as a whole. With this introduction to the Jewish worldview of economics we as readers are able to transition into understanding Solomon’s solutions of education & using Jewish law to improve the current state of the global economy. Although Solomon’s ideas of education and relying on Jewish law to improve the global economy seem logical, Sallie McFague, a Christian theologian, provides a different yet similar viewpoint of improving the global economy in her essay “New House Rules: Christianity, Economics, and Planetary Living”. Her discussion of ecological and neo-classical economics forces the reader to revert back to Solomon’s essay to analyze his methods of fixing the current global economy.
Ken S. Ewert's "Moral Criticisms of the Market", analysis’ how leftist Christians are not supporters of the economic system of a “free market economy.” A free market economy is where citizens, partnerships or enterprises have the ability to freely trade with others based on supply and demand of products. This allows for free competition and choice within an economic system. One of the main themes that Ewert tries to state is that Christians should not oppose the free market system in its entirety. Ewert has many valid points that I would agree with. He believes that although the free market economy does oppose some Christian’s beliefs, it should not deter Christians from participating within this system.
The Exodus of the Israelites is the equivalent to our present day Fourth of July or Bastille Day to the French. Israelite writers discuss the Exodus the most out of any other event in history. The story of the Exodus is one of the most famous stories of the Old Testament. Three of the most significant aspects of the story of Exodus are the call of Moses, the use of plagues as miracles, and the Passover.
Richard’s purpose is to remind Christians about the importance of loving neighbor and to teach how Christians can help the poor with their hearts and minds. He relates an important commandment in the Bible, “Love your neighbor,” with the economics by using the concept of “consequence of action.” He promotes the Christians to live a life which God is expecting for them to live by learning about the economics. He wants the Christians to stop justifying ourselves that we love each other when we are not, and he wants us to truly understand God’s intention of putting “love your neighbor” as one of the important commandments. As we study economics, it is important to understand that we should not focus on worldly issues and that we should not forget about God’s commandments. Moreover, this article teaches the Christians that we don’t need to be afraid to study economics because we can use the economics to obey God’s
One day, a rich man turned to Jesus and asked him about how to inherit an eternal life. Even though he had already followed the particular commandments such as not murdering, stealing, lying and honoring your parents, he still could not keep the law perfectly. Because Jesus asked him to give all his fortune to the poor but he would not like to. Jesus told disciples that it would be easier for the camel to go through the eye of a needle than the wealthy to enter the Kingdom of God. (Mark 10:17-10:25)
Bastiat writes, “Each of us has a natural right - from God – to defend his person, his liberty, and his property.” He makes the point that that this individual right can be used collectively; a common force as a substitution of individual forces, to protect persons, liberties, and properties, and therefore cannot conversely be used for the purpose of destroying persons, liberties, and properties. Bastiat, when describing his ideal “simple, easy to accept, economical, limited, non-oppressive, just and enduring government” summarizes his economic principles simply as “the non-intervention of the state in private affairs”. For he believes that “a science of economics must be developed before a science of a science of politics can be logically formulated.” He summarizes that science simply; “if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime…then abolish this law without delay.” The [Catholic] Church, and its followers, share the same ideals. For the Church teaches us that, “the free market is the most efficient instrument for utilizing resources and effectively responding to needs” and that “to safeguard…a free economy…the State must adopt suitable legislation…in such a way that it does not become abusively involved in the various market activities, the carrying out of which is and must
The purpose of this is to draw attention to the invisible government which controls the United States. One of the means of control is the Federal Reserve System. Many of us have seen the recent decline of the dollar in the news. We will address this in terms of the Federal Reserve System’s control over the value of the dollar. Much of this is a concentration of quotes by noteworthy individuals such as Economists, Presidents, and Congressmen.
The Old Testament law is seen as irrelevant by most modern Christians today. Christians are now under the blood of Jesus Christ which is said to abrogate the Law. Galatians 6:2 says, “Bear one another's burdens, and thereby fulfill the law of Christ.” The law of Christ is to love God and your neighbor as yourself. This does not mean, however, that the Old Testament Law does not apply to Christians today. Author J. Daniel Hays expounds on this topic in his article, “Applying the Old Testament Law Today,” and focuses on the hermeneutical approach of Principlism. This approach allows the Old Testament Law to be viewed in light of the New Testament.
The Bible does not say that money is bad. However, what it does say is
In today’s society, Christianity is plagued with many disagreements about how to deal with current issues in society. These problems arise from the fact that Christians have the same fundamental beliefs, but they often disagree on the details. This is the reason why there is a panoply of denominations in the Christian faith. The way that many of the factions in Christianity interpret the word of God can be categorized into different styles of gospel, such as evangelicalism and fundamentalism. One such category that is beginning to gain popularity in today’s society, often taught in megachurches, is Prosperity Gospel. Prosperity Gospel, also called the “Health and Wealth Gospel” by Scot McKnight’s internet article “The Problem for the Prosperity Gospel,” is the belief that if humans adhere to God’s will, then He will in turn bless them with prosperous lives (McKnight). This prosperity often comes in the form of health and wealth according to many megachurches that preach this gospel. In times of economic strife, the prosperity gospel offers comfort in the hopes of having a prosperous future. It is also suspected that Prosperity Gospel has also become an outlet for the people who have a considerable amount of money as a means to justify their wealth. Whatever the reason for believing this gospel, it is important to remember that Prosperity Gospel is just one of the many ways that we can interpret the teachings of the Bible.
Money has evolved with the times and is a reflection of the progress of man. Early money was itself a physical commodity, grain, gold or silver. During the vital stage, more symbolic forms of money such as certificates of deposit, bank notes, checks, letters of credit, bonds and other forms of negotiable securities came into prominence. Social development transformed money in to a trust, “In God We Trust' it says on the back of the ten-dollar bill.” (The Ascent of Money, 27) Today money is faith in the person paying us and belief in the person issuing the money he uses or the institution that honors his money. This trust has no end it can be extended to a greater number of individuals.
Paper money is more complex. From 1900 through 1971 (with the exception of during World War I), the US dollar was backed by gold, meaning its value was legally defined by a certain weight of the metal. That ended in 1971, when Richard Nixon shocked the world by breaking the link to gold and allowing the dollar’s value to be determined by trading in the foreign exchange markets. The dollar is valuable not because it’s as good as gold, but because you can buy goods and services produced in the United States with it—and, crucially, it’s the only form the US government will accept for tax payments. Among the Federal Reserve’s many functions is allowing the issuance of just the right quantity of dollars—enough to keep the wheels of commerce well greased without slipping into a hyperinflationary crisis.
When you look at the way we have prioritized church, family, and the government, the order of those three subjects have been switched and degraded depending on our personal beliefs. For the normal Christian, the list would go from church, to family, then lastly to government, if government is even considered a priority. However the way we are governed and the churches we attend have evolved from what they used to be. The roles and responsibilities have bled into each other and the line between these three topics have blurred together so that you cannot decipher where they end and begin. Our current government has completely corrupted the original way God intended for our families and churches to function by seizing control of our morals and practices and altering them to satisfy their selfish wants.
The invention of money was a major improvement in peoples’ lives. In the past, people usually had to travel all day to find the person who is willing to exchange their goods. In addition, the goods people want to exchange did not have the standard value of measurement. This led to unequal exchanges. Furthermore, it is not convenient to carry heavy goods from one place to another for an exchange. To solve these issues, money will be the only solution. Later, people tend to develop money from cowry shells to credit cards for the convenience and to improve their society.
Money, the media of exchange for products and services, provides things people need, like food, clothing, shelter, or medicine. People spend most of their life looking for it. My parent for example, works from sunrise to sunset to obtain it. The more money people have the more benefits they can get, because they will be able to get a bigger and better houses, clothes, or food. Less money means stress in bill payments, gas prices, and food prices. With money, people can fulfill their material need. However, money cannot buy everything such as happiness, friendship and love, health, and appetite.