Posts Tagged ‘Christian Economics’

The purpose of this new series of posts is to provide Christians with a sound basis for understanding economics in the present age and the age to come. This should help to dispel many of the misconceptions and misrepresentations of economic theory and its application today.

What is Economics?
Despite the wide-reaching application of economics to almost every area of life it is primarily concerned with solving one seemingly simple problem that arrises from 2 simple assertions:
1. Mankind has a finite resources available to it.
2. Humans have an unlimited number of wants and desires (including needs).

Therefore the problem economics seeks to answer is:

How do you satisfy the unlimited wants of mankind using the limited resources available?

This means, at its core, economics is primarily concerned with efficiency. Therefore economics is concerned with organising society for the purpose of efficiently directing resources to satisfy the wants of individuals and groups. For thousands of years practical philosophers have proposed various solutions to this problem. Seeking to determine which human wants and desires should be satisfied, i.e. what and how much should be produced?

3 Simple facts
There are 3 simple facts that need to be stated before continuing:
1. Economic systems are human systems, primarily concerned with human interactions.
2. Current economic theory does not have an ethical system built into it. This needs to be added by the society in which it operates.
3. Neither capitalism nor communism (2 dominant economic systems) are inherently Christian.

Keep these facts in mind when reading future posts in this thread.