Biblical Capitalism in Uncertain Economic Times
Let’s examine how Christians might think about matters of the economy, capitalism, and government. For a recent and very real example, the whole mortgage mess is traceable to two government interventions: the Federal Reserve Board’s keeping interest rates too low too long in the early part of this decade, and government’s persistent pressure on Fannie Mae and Freddie Mac to make loans to people who could not afford them! Both of these efforts were done with the best of intentions! Self-government, as America’s founding fathers noticed, places more importance on the individual, family, and church levels of government than civil government. The role of government should be to encourage free enterprise-not favoring certain enterprises over others unless there is a clear moral mandate or a systemic risk, that is, a risk to the whole economy. Further, in general, government should not do social engineering or interfere with free markets by favoring technological changes-unless there is a clear national interest such as national defense. Welfare State? No. In general, the federal government’s continual attempt to socialize welfare programs is not biblical. The government should require down payments on home purchases and the government should set stricter rules about how much banks should be able to lend against their balance sheet. Government intervention in the economy since the Depression has in fact smoothed out the business cycle. Government Support for the Auto Industry? No. This is a distortion of capitalism that should be avoided. Since we are drawing on inferences as well as historical observation, others may disagree as to how government should intervene in the economy.
These economist shared different perspectives with regards to where the emphasize for a new model of global Capitalism should be. First it is accepted that unregulated capitalism or Market Fundamentalism has failed us. Of primary importance now is the stabilization of the market and on this note I did notice that many economist did agree with a strategy for stabilizing the financial institutions. The market should be transparent and held to public accountability. Public regulations should be carefully developed so that they safeguard the public from market volatility but that they do not obstruct the flow of the market. One cannot of course look to the market alone to produce a virtues system since the market itself is value free. This is where our political and social institutions come in, to nudge the market in a way that it can bring financial growth and prosperity while making sure that it does so in a way that can compassionately address the needs of all who are affected by the market. With this call to promote a compassionate model of capitalism we feel obliged to champion a perspective of what this model could look like. As we are a religious community we do not attempt to offer actual economic policies, but in this blog we would like to highlight an economist who offers some interesting insight into policies that some of us feel may bring about a compassionate form of capitalism. Hernando De Soto is a famous Peruvian economist who promotes the cause of bringing capitalism to the poor by giving people in developing countries an actual opportunity to have access to capital and basic protection of rights to property as well as basic human services and needs.
It Was Fun – Collective Evolution
So who is really busy stopping the amount of plastic in our oceans, soon to be on nano level in all our food? Who stops the amount of oestrogens rising in our systems, damaging fertility of men? Who stops the rising amounts of waste, that leak and endanger humans and nature? I don’t hear no governments crying out loud. Most work is organized around process and efficiency, rather than around meaning, healthiness for natural systems, being of real service to real needs, rather than boosting sales for profit. Having enough nature, living blooming systems flourishing around us, is key to feel at peace, build trust and know we are part of a living system. So how to support our role within and for nature and the whole system called mother Earth? How to shift the system so we provide for future generations as well? Everything is economized, which means if you don’t increase profit to the system, read are old, sick or unemployed, you are ballast to society. As if the millions of non earning humans, think volunteers and activists, taking care of elderly, sick, refugees and nature are ballast!? As if a tree standing in a forest has no value for the whole, even when we don’t know how it exactly enriches the whole system. Our whole educational system keeps teaching us, to be like them to succeed. What system will let everybody and everything win? What system will provide enough for everyone on the planet? And there is proof enough that there is enough. We need a system that is medication, not more of the same. Develop economical systems that won’t stop people from working on essential things, when the money system breaks down.