For over 3000 years Proverbs 22:7 has been foretelling the economic collapse that comes upon people whose material possessions are obtained via borrowing. Also, for approximately 2000 years 1Timothy 6:10 tells us greed pierces people with many sorrows because it comes from the love of money which is the root of all evil, which always brings destruction. As Christian leaders, captains of industry, and/or Heaven’s citizens we should be listening to and living by scriptural truth regardless of how the society around us chooses to live.
Rebellion against the bible as truth and/or irresponsibility in living by its standards is the great catalyst behind most economic problems people face because they decide that a lifestyle of taking out loans is not as bad as the bible describes it, regardless of the fact that many institutions charge exorbitant interest rates that outweigh the growth they could get on average if the money was invested instead. Institutions and individuals have culpability with regard to the poor financial problems many people face.
Without institutions willingness to provide such loans and Wall Street’s willingness to package them as securities so some investor could hopefully make enormous sums of money, businesses and individuals could not have taken on such loans. The loans also could not have been engaged if individuals understood the financial bondage they would bring upon them and committed to avoiding them because they are not in line with the LORD’s plan for healthy finances. We must learn to be smarter and understand how the consequences of failing to live according to biblical principles will play out in our individual financial lives and in our national economy.
Capitalism is the best economic engine and at its best when it has limited regulation, and only those that work to eliminate incentives for greed and oppression of the masses while allowing for freedom to pursue many different forms of legitimate business opportunities that serve people and have the ability to bring in enormous revenue streams under low taxation. Unfortunately, some people think any regulation is akin to socialism and should be done away with. Yet, we must understand God Almighty gave the Law and it is our schoolmaster that by the grace of God helps us know right from wrong and helps guide us into being the best most productive good neighbors that we can be by allowing the Holy Spirit to help us avoid activities that bring destruction. In fact, per the Great Commandment, the bible shows you cannot really love God unless you also love your neighbor like yourself.
Income and assets will never be the same for everyone anywhere around the world and no one wants to give welfare to a truly lazy or irresponsible person. Yet, we must understand that the scriptures consider it to be an attribute of righteousness when one looks out for the welfare of neighbors and helps the poor, oppressed, and widows that have no means. So, while it’s important to keep taxes low and not over-regulate, each individual’s and nation’s first economic priority and the one that will set them up for future financial well-being must be to live by biblical principles that express our love for the LORD, His way, and other people.
Having your neighbor’s best interest at heart positively trickles down in blessing and prosperity within your community and nation. Yet, being greedy and seeking to manipulate numbers and markets to "get all you can and can all you get" only trickles down in pain and misfortune for everyone involved. The elimination of greed by helping individuals and businesses be financially responsible via steering clear of excessive debt and employing other good stewardship practices must be undertaken otherwise we are subject to great long-term misfortune down the road.
Please pray for this ministry and email me with any questions. May the LORD bless you richly as you follow His plan!
Matthew 25:37-46, Luke 10:27, Luke 12:42-48, Galatians 6:1-5
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