Biblical Economic School?

[Peter]

What is the school of economic theory best supported by the bible?

 

[Peter]

This is a subject I've been curious about lately. Someone on the PB posted an article by Von Mises and I know Gary North is a regular contributor at Lew Rockwell. Is the Austrian School true/biblical?

 

[Peter]

Hmm, no one else interested in the topic? Chris Rhodes? Ryan Puritanhead?

Several principles I believe must be considered if anyone is willing to approach economic theory from a biblical perspective are:

1. Sin- resulting scarcity (something I read in Unconditional Surrender), greed, etc.
2. Dominion mandate - Property rights/ stewardship
3. Work Ethic - idleness sin,

Anything else?

 

[Bladestunner316]

Actually Im really interested. But since I have no experience in economics outside my own basic knowledge from my experience I cant really comment.

Im eagerly awaiting a response from 'the collective' lol!!

Something that has crossed my mind as well.

blade

 

[Peter]

Originally posted by Bladestunner316
Actually Im really interested. But since I have no experience in economics outside my own basic knowledge from my experience I cant really comment.

Im eagerly awaiting a response from 'the collective' lol!!

Something that has crossed my mind as well.

blade

So I take it your an adherent of liberation theology

 

[CalsFarmer]

Quote:What is the school of economic theory best supported by the bible?

Debt = slavery

Using the term 'debt' to mean gross overextension of ones financial means over and above house payments and car payments and the usual monthly bills as well as taxes.

 

[crhoades]

Wish I could toss my in there but I'm broke...

From what I've read, North is leading the pack if in nothing else, attention paid to the topic from a Biblical perspective. Of course not everyone will agree with his exegesis at every point. If memory serves me, Stephen Perks of the Kuyper Institute has written a book on economics that interacts with North considerably and favorably. I know North is on Lew Rockwell a ton and is a lecturer for the Mises institute but he has critiqued the Austrian school on a few points. Libertarianism as well. I've listened to Bahnsen's lectures on Economic ethics and profited from them. But as far as intelligent interaction goes - I need to read much and practice better stewardship even more!

Book rich = cash poor.

 

[Peter]

Thanks. I'll check out the book by the Kuyper Institute fellow, and definiately buy those Bahnsen lectures...eventually. I just bought some introductory level economics books from the Mises institute.

"Book rich = cash poor." Well, I think a Classicalist would say that's a favorable situation since books have objective value whereas Federal reserve notes do not. But would the Austrian see the cash as having utility? Sorry, I don't know what I'm taking about.

 

[Puritanhead]

socialism...

"From each according to his ability, to each according to his need..."

 

[Puritanhead]

Originally posted by Peter
This is a subject I've been curious about lately. Someone on the PB posted an article by Von Mises and I know Gary North is a regular contributor at Lew Rockwell. Is the Austrian School true/biblical?

The Mises Institute tends to support cultural conservatism and Christianity... I could dig up a few quotes to support this... It depends on which economist it is... Mises himself was an Austrian Jew for example, and I'm not sure about whether he came to faith but he hasn't been with us for thirty plus years. They kind of came together as a school of thought in later twentieth-century, and were desemminated by scholars and eventually earned the appellation of Austrian economists. Austrian doesn't mean that they are all of Austrian nationality BTW... only that the school of thought had it's luminaries from Austria.

The late Swiss economist Wilhelm Roepke is one of the better ones In my humble opinion, and emphasizes the moral dimension without the sterile utilitarian creed of secular economists. His most renowned work is the Humane Economy:

In the Humane Economy, Röpke surmised that: "The market economy, and with social and political freedom, can thrive only as part and under the protection of a bourgeois system. This implies the existence of a society in which certain fundamentals are respected and color the whole network of social relationships: individual effort and responsibility, absolute norms and values, independence based on ownership, prudence and daring, calculating and saving, responsibility for planning one's own life, proper coherence with the community, family feeling, a sense of tradition and the succession of generations combined with an open-minded view of the present and the future, proper tension between individual and community, firm moral discipline, respect for the value of money, the courage to grapple on one's own with life and its uncertainties, a sense of the natural order of things, and a firm scale of values." To answer those who might sneer at this, Röpke nimbly replies, "Whoever turns his nose up at these things... suspects them of being 'reactionary'... may in all seriousness be asked what ideals he intends to defend against Communism without having to borrow from it."

[Edited on 9-6-2005 by Puritanhead]

 

[Puritanhead]

http://www.freebooks.com

 

[Peter]

Thanks Ryan. I've noticed many Austrian tend to be Papists as well. Coming to grip with the fact biblical economics came from a cesspool of popery and despotism such as Austria is going to be difficult for me (but by grace I can overcome my Nathanaelian bias!)

 

[Puritanhead]

Originally posted by Peter
Thanks Ryan. I've noticed many Austrian tend to be Papists as well. Coming to grip with the fact biblical economics came from a cesspool of popery and despotism such as Austria is going to be difficult for me (but by grace I can overcome my Nathanaelian bias!)

Gary North and Tom Rose are closest things to explicitly Biblical economists... he wrote a number of books on the subject... Rushdoony touches on it I believe to. Check Chalecedon Foundation's resources out sometime.

[Edited on 9-7-2005 by Puritanhead]

 

[Peter]

Originally posted by Puritanhead
socialism...

"From each according to his ability, to each according to his need..."

Hear of Gideon Strauss - Neo-Calvinist Socialist? This is worth a look.

 

[Bladestunner316]

Liberation Theology

 

[Puritanhead]

Okay here is my brilliant four-word refutation of so called Christian socialism and liberation theology...

Thou shall not steal.

 

[Bladestunner316]

thats just cowgirl talk!!!