Transcript Economics
Law, Government & Economics MS 407 Biblical Worldview Rule of Law the ruler or measure by which judgments are made Legal Positivism – the will of the sovereign Evolutionary Rule Scientific Rule Humanist (Pragmatic or Utilitarian Rule) Natural Law Will of the Sovereign Natural Rights 1.Life 4.Private Property 2.Individual Liberty 5.Do No Harm 3.Family Sovereignty Functions of Government - Bible 1. Justice/Judgment Gen 9:5-6; Ex 18:13-16; Deut 17:8-13; Rm 13:3-4; 1 Peter 2:13-14 Government Definition (Merriam-Webster) the act or process of providing authoritative direction or control; rule God’s Governments 1. 2. 3. 4. Self (Genesis 1) Family (Genesis 2) Church (Genesis 3) The State/Traditional Government (Genesis 9) S Jurisdiction F C G C C F F S S C F S Purpose of Civil Government Colossians 1:15; John 1:1 By God and For God All Government & Governors must acknowledge God (Isa 42:8; Deut 17:14-20,*18; Dan 4,*v30-32; Acts 12:22-23) Functions of Government - Bible 1. Justice/Judgment Gen 9:5-6; Ex 18:13-16; Deut 17:8-13; Rm 13:3-4; 1 Peter 2:13-14 Justice/Judgment Rule of Law the ruler or measure by which judgments are made Legal Positivism – the will of the sovereign Evolutionary Rule Scientific Rule Humanist (Pragmatic or Utilitarian Rule) Penal Standards Judgment must be just/righteous 1. Fair A. B. C. 2. 3. 4. Based on 2+ Witnesses Innocent until Prove Guilty Right to Defense Unpartial No Bribery Swift (Eccl 8:11) Penal Sentences Deterrence Punitive until Restoration Types 1. 2. Restitution Atonement (Satisfaction) Functions of Government - Bible 1. Justice/Judgment Gen 9:5-6; Ex 18:13-16; Deut 17:8-13; Rm 13:3-4; 1 Peter 2:13-14 2. Research Pro 25:2 Research Proverbs 25:2 Origins in God’s Desire to be Known Useful to Society 1. 2. Subduing the Earth “State of the Union” Functions of Government - Bible 1. Justice/Judgment Gen 9:5-6; Ex 18:13-16; Deut 17:8-13; Rm 13:3-4; 1 Peter 2:13-14 2. Research Pro 25:2 3. Collective Action Gen 11:1-9,*4; 1 Sam 8:1-22,*20 Collective Action 1. 2. 3. Public Goods National Defense Charity/Benevolence Public v. Private Goods Characteristics of Public Goods One individual’s consumption does not interfere with another’s No one can be excluded from its use Cannot be provided individually Examples: defense/public safety, weather service National Defense Not Compulsory Service Just War Doctrine Stance towards Israel Psalms 122:6 “Pray for the peace of Jerusalem: they shall prosper that love thee.” God’s Heart for the Hurting Widows Orphans (Fatherless) Poor Foreigner (Stranger) Church Benevolence Commanded – Deut 14:28-29; James 1:27; Malachi 3:10 Expected – Matt 25:36 Practiced – Acts 4:32-*35; 6:1-2 Economics The study of production and consumption of goods and services Main Concerns Provision – Adequate provision for the life, health, happiness and wealth of individuals Scarcity – Limited resources in any given geopolitical society Three Questions What to produce? How to produce? For whom to produce? • Most important: not WHAT are the answers rather WHO gives the answers. Three Main Systems Traditional Command Market Note: Nearly all economic systems are MIXED to some extent. Who’s Responsible - Systems Traditional Tradition, patterns Command Central Planning Authority(ies) Market Consumer or Entrepreneur Strength & Weaknesses Traditional Strengths Stable Predictable Provides roles and structure to society Weaknesses Subsistence, No room for growth Discourages new tactics Command Strengths Equitable Predictable Can quickly change direction Market Strengths Weaknesses Lack of motivation for innovations Inefficient Error Self-Enforcing Efficient Dynamic Motivates innovation Weaknesses Inequitable Ignorant of the defenseless ¿Who’s Responsible? Genesis 3:17-19 2 Thessalonians 3:6-13 Proverb:19:15; 13:4; 19:24; 12:27; 22:13 Proverb:24:30-34 Isaiah 49:15; Psalms 27:10 1 Timothy 5:4-8, 16 Luke 10:29-37, *37 Who’s Responsible – Bible Government Neighbor Family Self Discussion Shouldn’t Civil Government be primarily responsible for society’s welfare? 1. 2. The “Sword” - Romans 13:4 Imperfect “Interest” Talent & Opportunity Intellect Physical Strength “Garden” “Private Property” God-given (natural) authority to direct and dispose of a resource. Presupposed in 8th & 10th Commandment Result of Dominion of Man over Creation Natural/Logical Consequence of Labor Standards for Benevolence Tithe Principle: 10% Zacchaeus Principle: 50% (half) Widow’s Principle: 100% (all) Discussion: Consumption “Materialism is Sinful” True? False? How so? Material Wealth is a Gift from God Provides an “Incentive” for Labor Should Not Take Focus Off God & His Will Should Not Deteriorate into Gluttony Discussion: Poverty & Inequality: What do we do about it? “We’re Going to Eradicate Poverty” Robin Hood? Take from the Rich give to the Poor? Matt 14:16* (Mark 6:37; Luke 9:13) Will it be enough? Malachi 3:10 “Bring the whole tithe into the storehouse, so that there may be food in My house, and test Me now in this," says the LORD of hosts, "if I will not open for you the windows of heaven and pour out for you a blessing until it overflows.” Importance of Investment Engine that powers the economy Not Stocks & Bonds; Rather Entrepreneurship Profit = Accountability Activates the “Multiplier” Acts unlike consumption spending Depends on consumer saving Utility of a Christian’s Business 1. 2. 3. 4. Funding the Gospel Meeting Needs Discipleship Making a Profit The U.S. Economy GDP = C + I + G + E (T) GDP = Gross Domestic Product C = Consumption (Consumers/Workers) I = Investment (Business) G = Government E = Export Balance (Trade) Discussion: Should a Christian Retire? What should a Christian do in Retirement? Curse of Work – “All the days of your life” Sabbath/Jubilee Principle “Rest and Reflect”