Business & Economy

In the Beginning was Economics

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Naomi Biesheuvel and Paul Williams

What is the biblical foundation for economic and business life, and what does it tell us about the way the economy and businesses should operate? In this video interview done by the organization Cardus, Paul Williams explains that whereas many Christians think of economic life primarily in relation to the Fall in Genesis 3, actually the biblical vision for economic life begins in Genesis 1 with the so-called Cultural Mandate. Economy and business are, then, products of God ‘s good creation.

However, the current institutional forms in this sphere do not necessarily reflect the high-calling of the Genesis 1 vision, which is in many ways undermined by the moral and legal commitment to profit maximization as the fundamental guiding principal for the modern public corporation. Williams suggests reforming the government regulation that has given a monopoly to the public corporation in favour of new institutional forms, like the social enterprise, which do not have profit maximization as their primary motive.

How can Christians better affirm the created goodness of enterprise, while challenging the intrusion of sin apparent in the current institutions?

Williams recommends public policy action, since current government policy is in part responsible for the monopoly of the profit maximizing firm. How might Christians go about advocating such political action?

Source: Cardus

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