The relationship between the Bible and economic systems

Bible Econ

The Bible is filled with passages related to microeconomics and macroeconomics. Jesus spoke out against the high priests who had been corrupted because of money, and issues like overtaxation and money lending are also addressed in the Bible. When it comes to personal finance management, Jesus also taught about the best ways to manage income and use money wisely.

Paul referred to the "the boundless riches of Christ," in Ephesians 3:8. Christ is the source of all spiritual as well as physical abundance. The Old Testament clearly equates spiritual with physical abundance: "By wisdom a house is built, and through understanding it is established; / through knowledge its rooms are filled with rare and beautiful treasures," (Proverbs 24:3-4). These "rare and beautiful treasures" must be used wisely, which is why Jesus teaches continually about the importance of savings. Saving money is the most important microeconomic theme in the Christian Bible.

Indeed, Jesus derived much of his economic philosophy from the Old Testament, which advocated frugality and savings as part of a personal financial plan. For example, the book of Proverbs advices individuals to "store provisions in summer" and "gather food at harvest," (Proverbs 6:8).

The theme of personal savings continues throughout the Old and New Testaments. Saving, and spending wisely, are the keys to personal financial management. For instance in Luke 14:28-30 Jesus teaches, "Suppose one of you wants to build a tower. Won't you first sit down and estimate the cost to see if you have enough money to complete it? / for if you lay the foundation and are not able to finish it, everyone who sees it will ridicule you, / saying, 'This person began to build and wasn't able to finish.'" This passage is one of the most important New Testament verses on personal financial management. The person who spends what he or she does not have is a fool; it is crucial to not buy too much on credit.

This message is more important now even than it was in the time of Christ. Now that credit card abuse is rampant and the sub-prime mortgage crisis taught about foolish borrowing, Christians understand the importance of Biblical messages regarding personal financial management.

Moreover, Luke points out that Jesus spoke these words about foolish spending while also preaching the importance of being reborn in the spirit. Being reborn in the spirit requires a whole new outlook on life, which entails new approaches to work and money.