In course of our semester, as we have learned more as to just what economics is, two things have stood out to me as being the fundamental backbone of a healthy country’s economy: entrepreneurship and a moral foundation.
It is when a country encourages entrepreneurship, enabling each one of its citizens to take part in free trade and treating each person as if they were on the same playing field with the same rights as the next, that growth flourishes in the economy, and in the country as well. For each person is then able to act in their God-ordained role as a steward of creation, bringing their own gifts, visions, abilities, and dreams to the table to see just what comes out of it. Such a people are then able to tap into the creative, to imagine and dream up a world according to how it could be and then press for the making of such a reality. Their lives are then lived primarily according to self-government—in which, each man is his own king who then is able to rule his kingdom according to how he sees it needs to be lived—rather than according to a regulating minority, who, due to limited knowledge, will always come up short when it comes to providing for the needs of an entire population. There is, of course, risk involved with such a system, for it means living each day as if it is something new rather than according to the established, safe ways of what is known. Yet what makes adventures real and thrilling is that sense of the unknown, of something we are unable to control but rather can only become a part of, and human beings were made for adventure-living, something that can only come to full fruition in the presence of freedom. Thus, freedom was the way we were made to live, and it is only when a country opens its arms to freedom that the economy truly flourishes and prosperity is built.
Besides this, though, a strong moral foundation is also needed to, among other things, protect the lives of its citizens, the true character of entrepreneurship, and the order that God created things to be in. A strong moral foundation, which involves a country’s following the LORD’s commands and raising their children according to such ways, is what leads to an environment of trust and freedom. It is only when the ways of God are known and lived that a country can exist in freedom and encourage the things it is supposed to encourage. Without righteousness, justice, strong character, and a sense of right and wrong, a country in freedom will always revert again to slavery, and the creative becomes twisted, used for corrupt means. Thus, a land and people without a moral foundation, without a life established in Yahweh’s ways and principles, will always become broken and chained.
Hello!
I enjoyed reading your post! I particularly appreciated your point that a moral foundation is a key component of what makes an economy strong. In economics, morality is one often forgotten aspect; however, as you point out, our moral foundation shapes how we view people, how we steward our resources, and the incentives which motivate our actions (one of the most important aspects of economics). Morality, as you note, is also what motivates us to establish protective boundaries through the rule of law so that the poor and vulnerable are defended and have a chance to participate in the economy—and the more people that participate in the economy through entrepreneurship, the healthier an economy can be.
Thank you again for your post!