We understand that from a Biblical perspective capitalism is part of the Judeo-Christian ethic. What God developed with the Hebrew people also required them to make provision for the needy; widows, orphans, poor, aliens and others that are needy. Caring for one’s family, especially parents, was also a strong part of this culture. The government did not enforce these values, but the Hebrews had a corporate mentality that encouraged them to keep each other accountable in these areas.

Socialism teaches us the opposite; that government control is better than personal responsibility and decision-making…and the more the better. The reality is that few things in life are harsher than living in a socialist economy. What about places like Cuba? After socialist principles were applied to agriculture there in the early 1960s, production of eggs declined 40%, beef production fell by 45% and the potato crop was cut in half. Pork production plunged by more than 80%. A once thriving economy, driven by a tourist industry was shortly in shambles. To go there today you still see the only decent cars are models from the late 60’s when the government stopped allowing them to be imported.

When we look past millennials to generation Z we see that capitalism is more popular than socialism among American college students, but not by much.  Neither one command a high majority support and the kids seem disturbingly open to government central planning of the economy. That’s according to a new survey of American undergraduates. When asked for their opinions of capitalism, 45% said they have a favorable view, 31% expressed an unfavorable view and the rest had no opinion, were unsure, or didn’t answer. Not exactly a ringing endorsement of the property rights that have made the United States the most prosperous nation in history, pulled billions of people out of poverty around the world and enabled, among other things, the funding of great universities, charities, NGOs and non-profits.

This is why this I am spending so much time talking about the principles of capitalism as the Biblical antidote for socialism and the doorway to prosperity. The next generation needs a Biblical view of economics because they are not getting it in schools and universities. Some will think I am being political in my writing but that is not my intention. So hang in there if you are tired of me talking about economics because I intend to explore some new Biblical, financial themes in the New Year.

Meanwhile ask the Lord to show you the practical change today that will cause you to prosper in the long run. Get the principles of capitalism working for you.

Sources:

College Kids Not Endorsing Socialism, But They’re Open to It. A new survey asks Gen Z about capitalism and its flaws.Wall Street Journal by James Freeman Oct. 29, 2018

Compassionate Capitalism – A Judeo-Christian Valueby Harold Eberle, 2010, Worldcast Publishing. Pg. 131