The Bible is our standard in all areas of life and is fully adequate to give us wisdom and direction for every human endeavor.
“All Scripture is given by inspiration of God, and is profitable for doctrine, for reproof, for correction, for instruction in righteousness, that the man of God may be complete, thoroughly equipped for every good work”
(2 Timothy 3:16-17).
Scripture is sufficient to train God’s people for righteousness and for EVERY good work. This includes economics.
Does God change from day to day or from season to season or from era to era? God is immutable. This means He does not change. “I am the LORD, I change not!” (Malachi 3:6). This unchangeable God established the earth and filled it with His morality, his righteous principles; it could not be otherwise. As God does not change, so neither do moral principles imbedded in the universe. God’s morality includes every aspect of human life and endeavor, including economics.
The Bible says a lot about economics. If we begin in Genesis we see that God commanded man to have dominion over the earth and all that is in it (Genesis 1, 2, 9). Taking dominion is itself an economic activity. Let’s jump now to the Ten Commandments. Do the Ten Commandments have anything to say about economics? “You shall not steal.” This command establishes personal property. God has ordained that men own things, that they possess possessions, and that others not take them from them. God has ordained property rights. Not only are we to respect the property rights of others, we are not to wrongly desire someone’s property – “You shall not covet…”
What is socialism? Wikipedia says “Socialism is an economic system characterized by social ownership of the means of production and co-operative management of the economy.” It is the denial of private ownership. It is control of ownership by a few, normally those who control the state. Socialism is unbiblical and ungodly.
I invite you to read my article on socialism and the official ICCP document titled Biblical Economic Systems.
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