One thing I have seen repeatedly, and saints have seen through the ages is that the Word of God is both timeless and timely. That is, His word reaches throughout all ages, is not changed, and has no need of change, yet, it is always relevant to the everyday questions of men. It is always fresh and applicable, without bending to fit the changing tides of cultural norms.

We see this especially so when we bring the Word of God to bear on a practical discipline such as economics. Now, I’m not going to set myself forward as an expert in the field of economics, but what I am going to set forward is the Word of God, that gives us “more understanding than all [our] teachers, for your testimonies are my meditation.” Psalm 119:99.

The Word of God does not give us the exhaustive details of economics (although it gives us much) or make us experts in this field without further study, but what it does give us the foundational worldview that allows us to make sense of economics, and apart from which there is no way to make the science intelligible. Let me explain.

What is Economics?

But first, what is economics? According to the revered economist, Thomas Sowell, “Economics is the study of the use of scarce resources which have alternative uses.” Another definition tells us that, “Economics is the branch of knowledge concerned with the production, consumption, and transfer of wealth.” Economics affect us every day. Personal and social economic decisions have a dramatic impact on our living conditions, freedom, quality of life, health, and much more.

Creation

What does Genesis teach us about economics? Let’s turn to Genesis chapter 1, verse 1:

“In the beginning, God created the heavens and the earth”

Believe it or not, this verse lays the foundation of economics. Not only that, it lays a very different foundation than any other worldview. The biblical foundation for economics laid down in Genesis 1:1 is categorically different than all opposing worldviews. How?

All pagan worldviews, including modern humanism/atheism posit an evolving universe with no existence outside of itself. In contrast, Genesis 1:1 says, “In the beginning, God…” God existed before His creation and made all things out of nothing. He is different than the universe He created “ex nihilo” (out of nothing).

Let’s look at several passages:

“By faith we understand that the universe was created by the word of God, so that what is seen was not made out of things that are visible.” ~ Hebrews 11:3

“By the word of the LORD the heavens were made, and by the breath of his mouth all their host.” ~ Psalm 33:6

“He is the image of the invisible God, the firstborn of all creation. For by him all things were created, in heaven and on earth, visible and invisible, whether thrones or dominions or rulers or authorities—all things were created through him and for him. And he is before all things, and in him all things hold together.” ~ Colossians 1:15-17

But, what does this have to do with economics? The philosopher/theologian Cornelius Van Til had this to say,

“According to Scripture, God has created the “universe.” God has created time and space. God has created all the “facts” of science. God has created the human mind. In this human mind God has laid the laws of thought according to which it is to operate. In the facts of science God has laid the laws of being according to which they function. In other words, the impress of God’s plan is upon his whole creation.”

The biblical worldview is the only to set forward the consistent rational for transcendental law – that is God not the same as His creation, and is over His creation, so therefore His law “transcends” His creation. God’s law and wisdom transcends His world, and He upholds all things. Law is not the product of evolution or human decision but comes from and is upheld by God who is beyond the creation. In contrast, all other worldviews are “creation bound.” They provide no basis for law outside and over the creation and present an evolving universe and evolving law. We can see this in a current economic fad, whose proponents believe that as a sophisticated nation we’ve reached an evolutionary leap forward, one which allows us to borrow and inflate uninhibited without serious negative consequences (check the headlines recently).

First, in creation we see the foundation for all science, not just the science of economics. Secondly, we see man, created in the image of God, given the economic task of dominion,

“Then God said, ‘Let us make man in our image, after our likeness. And let them have dominion over the fish of the sea and over the birds of the heavens and over the livestock and over all the earth and over every creeping thing that creeps on the earth.’

So God created man in his own image,
in the image of God he created him;
male and female he created them.

And God blessed them. And God said to them, ‘Be fruitful and multiply and fill the earth and subdue it, and have dominion over the fish of the sea and over the birds of the heavens and over every living thing that moves on the earth.’ And God said, ‘Behold, I have given you every plant yielding seed that is on the face of all the earth, and every tree with seed in its fruit. You shall have them for food. And to every beast of the earth and to every bird of the heavens and to everything that creeps on the earth, everything that has the breath of life, I have given every green plant for food.’ And it was so. And God saw everything that he had made, and behold, it was very good.” ~ Genesis 2:26-31

The first and most important fact about man is that he is an image bearer, made in the image of God. Man is unique. Worldviews that instead set forward man’s functional/utilitarian role above that of his inherent dignity, or even deny his God-given dignity, end in disaster. Evolution has no “Imago Dei”, and as a result directly influenced the vast death tolls of the 20^thcentury under brutal regimes. When man is seen as an economic unit, rather than being made in the image of God, the results are tragic.

The second basic fact about man is his dominion task. Worldviews, even purportedly Christian worldviews, that undermine or diminish this fact end not only in irrelevance, but frustration and ultimately sin. The Christian man is called to work, stewardship, dominion, and cultural relevance. Surprisingly, even the hermit cannot escape dominion, economy, and economizing. He stills has to produce, trade, and economize in order to survive.

Fall