If you’d like to learn more about economics from a biblical worldview and the ideas explored in this article, check out Understanding The Times: A Survey Of Competing Worldviews, chapter 16, where Jeff Myers and David Noebel explain this important topic.
When you think about money and Christianity, what comes to mind? Maybe you envision a pastor encouraging the congregation to fill the offering buckets or a televangelist promising viewers blessings and prosperity in exchange for “seed money” planted in faith. Maybe you think of financial seminars about budgeting well or “money makeovers” to escape crippling debt. People have a wide range of views about money and Christianity, from assuming that Christians must give everything they own to the needy and live in abject poverty, to believing that money is the root of all evil, or thinking that wealth and prosperity are directly proportional to a person’s faith in God. Unfortunately, there are many myths and misconceptions circulating both inside and outside the church about the Christian view of money.
Before we examine what the Scriptures say about money and finances, we must understand what economics is. Simply put, economics is the study of the management of resources. Economists study how humans compete, cooperate, and distribute goods and services. They examine why some economies flourish while others flounder. At its most basic level, economics is about scarcity: there are only so many resources in the world, so we must manage them wisely. Let’s look at some fundamental principles economists recognize as necessary to a healthy economy.
Rule of Law
There are many opinions on the role of government in economics. Some people want the government to oversee and control all aspects of business and finances, while others don’t want any government involvement in the economy. But for people to be free to make investments, create businesses, or purchase goods, there must be some basic rules in place so people can safely do such things. Thus, to allow free exchange and economic prosperity, the government must protect the right to private property, which may be physical—such as land and personal possessions—or intellectual—like the characters in a story or computer code. If there is no basic rule of law to protect people’s belongings or work, people will not take risks to create or innovate.
For people to be free to make investments, create businesses, or purchase goods, there must be some basic rules in place so people can safely do such things
Limited Government Role in the Marketplace
While there must be some rule of law to ensure a prosperous economy, too much government intervention will almost inevitably harm an economy. The more rules and regulations there are, the more obstacles there are between people and their desired goods and services. Such interventions can include rent control or minimum wage laws. Rent control intends to make housing affordable for low-income families, but can end up creating a housing shortage. Minimum wage laws seek to increase the wages for people in entry-level positions, but this often results in positions being eliminated or jobs automated by computers that don’t require a paycheck. Isn’t a low-paying job better than no job at all? Even the best of intentions can backfire and harm instead of help.
Freedom to Pursue Ideas
Every new product or service began as an idea. Economics is ultimately about the mental, not the physical. People gain knowledge and act upon it. Economies thrive when people are free to think, dream, and create.
Participation
An adult makes an average of 35,000 decisions a day, which is 12,775,000 decisions per year. Multiply that times an estimate of 250 million adults in the U.S., which makes over three quadrillion (three followed by fifteen zeroes) decisions per year. No central planning agency or supercomputer could ever possibly control or manage that many decisions, many of which are split-second and based on the slightest of cues. Any economic system that tries to control this process ignores the fact that humans are more than physical—we are spiritual and have minds that allow us to think and make decisions.
Sustainability
There are many policies that sound good in theory but are terrible in the long run, such as many forms of wealth distribution. Government programs are expensive. When there is more money going out to fund such programs than there is money coming in from taxes, we go deeper into debt. As of now, the United States’ national debt is over $34.6 trillion. This is an enormous amount of debt that will be extremely difficult—if not impossible—to pay. We go deeper and deeper into debt with unsustainable and unhelpful government spending.
These are some fundamental principles to maintaining a healthy economy. Let’s now see what economic principles we can glean from the Bible.
A Christian Economic
While the Bible is not an economics textbook, it still contains important principles that have economic implications. We see examples all throughout the biblical narrative: “Better a little [wealth] with righteousness than great revenues with injustice” (Proverbs 16:8); and “Let the thief no longer steal, but rather let him labor, doing honest work with his own hands, so that he may have something to share with anyone in need” (Ephesians 4:28). Two of the Ten Commandments imply the legitimacy of private property: “Do not steal” and “Do not covet” (Exodus 20:15, 17). While these are individual principles, applying them broadly to societies and nations will allow them to flourish. If Christianity is the grand story of reality, then of course it will have wisdom, application, and insight into how we handle economics.
The Bible is not an economics textbook, it still contains important principles that have economic implications
Biblical Stewardship
God owns all things, and we are all his stewards (Psalm 24:1; Genesis 1:26–30, 2:15). Therefore, we are accountable to God with how we use our property. One of our central responsibilities as stewards is to maximize God’s return on his investment by using it to serve others (Matthew 25:14–30).
Private Property
As stated above, “Do not steal” is a clear statement on the right to private property. Both Old and New Testaments teach about ownership and stewardship of one’s property (Genesis 23:13–20; Deuteronomy 8; Ruth 2; Isaiah 65:21–22; Jeremiah 32:42–44; Psalms 112; Proverbs 31; Micah 4:1–4; Luke 12:13–15; Acts 5:1–4). Ownership of property is a God-given right, and stewardship is a God-given responsibility.
Work
Work was part of God’s command to Adam and Eve, even before the fall. Private property encourages hard work and fruitfulness: “Lazy hands make for poverty, but diligent hands bring wealth” (Proverbs 10:4, NIV). Paul stresses the importance of work when he says, “For even when we were with you, we would give you this command: If anyone is not willing to work, let him not eat” (2 Thessalonians 3:10).
Trust
Economies thrive when there is a certain level of trust between people. The Bible also places a high priority on trust: don’t lie, don’t cheat, treat others how you would have them treat you. Christians are to be honest in our words, being people of integrity (Matthew 5:37).
The Bible also places a high priority on trust: don’t lie, don’t cheat, treat others how you would have them treat you
Competition
The Bible commands employers to pay hard-working employees well (Leviticus 19:13, Deuteronomy 24:14-15, 25:4, 1 Timothy 5:18). It also teaches that the lazy tend to become or stay poor (Proverbs 10:4, 14:23, 21:25). Therefore, workers have an incentive to provide their best work, forming the basis of economic competition. This also leads people to cooperate to create the best products and services, which is good for the economy as well as society.
Social Justice
While this phrase has become very controversial lately, we mean it in its purest sense. God wants us to care for the needy and the disadvantaged. When dealing with people, whether rich or poor, the Bible commands impartiality, not equality (Leviticus 19:15). Since people differ in interest, ability, and work ethic, inequality is largely unavoidable. We must focus primarily on equal treatment rather than equal economic outcomes.
We see that the economic principles of the Christian worldview align well with the five principles of a healthy economy. Christianity promotes the free exchange of goods and services within a trustworthy and fair market system. Private property, hard work, and stewardship are necessary and good. We do not all have the same skills and talents, but we can (and should) work to the best of our ability. Following these principles will allow individuals, communities, and societies to flourish.
Check out our Resource Library for more content to help embrace God’s truth and champion a biblical worldview!