Proverbs 16:11 The Lord demands accurate scales and balances; he sets the standards for fairness.
There is a moral standard for fairness. Although most people would rather not acknowledge it, their exists a moral agent who is impartial and requires that everyone operator in fairness.
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Entries Tagged as 'II. Biblical Economic Concepts'
Concept - Fairness
May 31st, 2008 · No Comments
Tags: G. Fairness
Concept - Private Property
May 31st, 2008 · No Comments
It is generally acknowledged that the Bible establishes clearly the concept of private through God’s issuance of the ten commandments - specificallly, commandment number eight, “Thou shalt not steal.” [Exo 20:15]
Tags: E. Private Property
A lesson from a certain rich man…
May 30th, 2008 · No Comments
We can learn a stern lesson about money from the story of a certain rich man that Jesus told the Pharisees in Luke 16:19-31. The Pharisees were strictly religious but they loved money. And in the context of the Jewish culture of their day, they equated money and material possessions with being under God’s blessing [...]
Tags: B. Self-Denial · I. Introduction
Model - Homo gospelicus
May 24th, 2008 · No Comments
One of the most discussed concepts in the discipline of economics is the model of a simplified, rational economic man, “Homo economicus.” The basic idea is the model of an economic agent acts purely to maximize his personal “utility function” or well-being, at the least amount of work or cost.
There are several debatable issues that have already [...]
Tags: II. Biblical Economic Concepts
Concept - Time
May 23rd, 2008 · No Comments
Proverbs 23:4 Don’t wear yourself out trying to get rich. Be wise enough to know when to quit. 5 In the blink of an eye wealth disappears, for it will sprout wings and fly away like an eagle.
In making economic choices, the believer must take into consideration the biblical perspective of his or her own [...]
Tags: D. Time
Concept - Accountability
May 20th, 2008 · 2 Comments
The way traditional economics is taught by compartementalizing “positive” or emperically based decisions versus “normative” or ideology-based decisions is a tool that conspicously frees the agent to make economic choices while seemingly escaping any culpability or moral accountability for those choices. This presumposition is a lie. If we make the choices, inherently we are accountable for the consequences.
Since this [...]
Tags: H. Accountability
Concept - Value (The Soul Standard)
May 20th, 2008 · No Comments
Years ago, the United States and much of the world for that matter, operated the valuation of our currency on the basis of the Gold standard. President Richard Nixon and his treasury secretary, John Connally, through a policy of benign neglect, would put an end to that.
The valuation of the dollar was left to be [...]
Tags: D. Time
Concept - Self-Denial
May 20th, 2008 · No Comments
If we read God’s Word and actually attempt to put it into practice, we find the heart of Adam Smith theory of Capitalism and our modern exntension of neo-liberalism are not on flawed, but also corrupt. The bitter fruit of Savings and Loans crises, the dot-com/real estate/finance/credit bubbles, corporate scandals, and failures of globalization are proof [...]
Tags: B. Self-Denial