Introduction to Godconomics

 

Is there possibly any connection between God and Economics?

Is the Bible truly capable of solving today’s technical issues, despite Meeks’ argument that it cannot? (Sigmund Wagner-Tsukamoto, 2009) 

Is God even interested in our economy?

These are the possible questions that may have led you to this page and many others. 

The short answer is Yes.

✅ There is a connection between God and Economics.

✅ The Bible is capable of solving today's technical issues. 

✅ God is much more interested in our economy than YOU think you are.

As Ecclesiastes 1:9-10 states, the reality is that nothing is truly new under the sun. Recognizing this will help us grasp that to truly understand the foundations of economics and God’s role, we must begin at the very start. 

What is Economics?

Economics is the study of how people make choices to use limited resources like time and money to meet their needs and wants.

 According to Bradley R. Schiller, “It is the study of how best to allocate scarce resources among competing uses.” (City, 2020).

The word “economics” is derived from the Greek word “oikonomos", where Oikos means household and nomos means to rule or manage. Therefore, Oikonomos means "household management" or “stewardship” (City, 2020).

The Biblical Origin of Economics:

In Genesis 1, God did an incredible job of creating everything we see today (John 1:3). It took Him just six days to create the earth's structure, and it has lasted to this day.

Humans are distinct from all other creatures because we were/are made in the image of God and given dominion over every living being He created (Genesis 1:26).

 In Genesis 2:15 God put Adam in the garden to dress and keep it, meaning he made him a steward over the garden. Therefore, it is safe to say that the father of economics is Adam and not Adam Smith because he was the first steward.

 

The Two Biblical Economic Conditions:

Pre-fall economy: Also known as the Eden economy. In this economy, there was never a shortage of supply, as springs rose from the ground to water the land. Likewise, there was no rapid increase in demand because every conceivable resource was abundantly provided. In fact, right after breathing life into man, God created a garden specifically for him. In this economy of which Adam was put in charge, there was no scarcity. (Genesis 2:6-14)

Post-fall economy: This economic condition emerged after Adam and Eve were expelled from the Garden of Eden as a reason for their disobedience to God. In this economy, humans became responsible for their well-being. This was when economic problems began. Humans now must carefully manage their resources and navigate challenges like scarcity, competition, and inequality. 

This shows that economics has everything to do with God as He ‘is interested in both the spiritual and material aspects of His creation’ (Ritenour, 2019) The biblical references for this claim are Isaiah 45:12, Job 12:7-10 and Romans 1:20. God created economics, so it shouldn’t surprise us that in various places, we find economic principles that are in line with biblical principles (Ritenour, 2019). Many economic principles can be traced back to the Bible, and we will be discussing most of them throughout this blog.

I'll suggest that you fasten your seat belt and prepare for an unforgettable journey!

Bibliography:

Bible Gateway (2024) Bible Gateway. Available at: https://www.biblegateway.com/.

City, E. (2020). Origin and Definition of Economics. Economics City. Available at: https://economicscity.com/origin-and-definition-of-economics/ (Accessed: August 2024)

Ritenour, S. (2019). Five Ways the Bible and Economic Principles Are Connected. [online] tifwe.org. Available at: https://tifwe.org/five-ways-the-bible-and-economic-principles-are-connected/. (Accessed: August 2024)

Sigmund Wagner-Tsukamoto (2009) Is God an Economist? Palgrave Macmillan UK eBooks. Palgrave Macmillan. doi:https://doi.org/10.1057/9780230234093