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Abstract
This study joins the debate about whether capitalism or socialism best shows how the Bible sees economic interactions between people and, by extension, provides insights into how a Christian should live. Capitalism is based on the private ownership and control of resources and profit, which spread with the migration process of the Protestants. Socialism is based on the idea that the group or community should own the means of production and distribution to benefit everyone equally. This paper argues that biblical principles point neither to socialism nor capitalism as the appropriate economic framework for economic interactions and the organization of economic life in society. This assertion is based on how Jesus lived His life and various statements He made while here on earth, as presented in the Bible. The study demonstrates that Jesus is variously portrayed as a revolutionary socialist and a compassionate capitalist and that Christians are called to responsibly manage the resources entrusted to them by God, for there is accountability for every economic choice and preference.
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References
- Arnold, J. L. (1999). The cause and results of the reformation men and theology. Retrieved from http://www.thirdmill.org/files/english/html/ch/CH.Arnold.RMT.2.HTML
- Bediako, D., Berchie, D. & Zanthia, E.L. (2014). Questions Adventists Ask. The Adventist Press
- Chaigne, H., & Corbin, M. J. (1965). The Catholic church and socialism. Cross Currents,15(2), 151-169.
- Claar, V. C. and Klay, R. J. (2007). Economics in Christian perspective: Theory, policy, and life choices. InterVarsity Press.
- Daniari, N. (2018). Adam Smith vis-à-vis neoclassical economics: A retrospective glance. Artha Vijnana, 60(3).
- Duah, M. (2021). Theology of prosperity gospel. Book chapter in Prosperity Gospel: A biblical-theological evaluation, Advent Press.
- Fanfani, A. (1984). Catholicism, Protestantism and Capitalism. University of Notre Dame Press.
- Griffiths, B. (1984). The Creation of Wealth a Christian’s case for Capitalism. InterVarsity Press.
- Grimsley, S. (2016). Understanding Socialism, Communism, and Mixed Economies: Comparison and Analysis. Retrieved from http://study.com/academy/lesson/understanding-socialism-communism-and-mixed-economies.html
- Guzman, S., & Hill, J. (2017). The Protestant Ethic and the Spirit of Capitalism. CRC Press.
- Johnson, M. R. (2016). The Social Philosophy of N.N. Nepluyev (1851-1908): Fragmentation, Redemption and Christian Socialism. https://www.rusjournal.org/wp-content/uploads/2016/02/Nepluyev.pdf
- Landreth, H., & Colander, D. C. (2002). History of Economic Thought (4th ed.). Houghton Mifflin Company.
- Marinovic, A. (2016). Book Review: The Oxford Handbook of Christianity and Economics. Claritas: Journal of Dialogue and Culture, 5(1), 10.
- Marx, K., Engels, F., & Moore, S. (1972). Manifesto of the communist party. Foreign Languages Press.
- McLean, I., & McMillan, A. (2014). Oxford Dictionary of Politics. Oxford University Press.
- Nelson, R. H. (2019). Economic religion and the worship of progress. American Journal of Economics and Sociology, 78(2), 319-362.
- Nester, R. (2018). Capitalism. Stanford Encyclopedia of Philosophy. Retrieved from https://plato.stanford.edu/entries/capitalism/.
- North, G. (1987). Inherit the Earth: Biblical Blueprints for Economics. Dominion Press.
- Owensby, W. L. (1988). Economic for Prophets. William B. Eerdman’s Publishing Company.
- Percy, M. (2015). Christianity and Social Flourishing: Theology, Politics, and Economics. In Theology and Economics (pp. 219-237). Palgrave Macmillan.
- Reiman, J., & Leighton, P. (2015). Rich get richer and the poor get prison, the (subscription): Ideology, class, and criminal justice. Routledge.
References
Arnold, J. L. (1999). The cause and results of the reformation men and theology. Retrieved from http://www.thirdmill.org/files/english/html/ch/CH.Arnold.RMT.2.HTML
Bediako, D., Berchie, D. & Zanthia, E.L. (2014). Questions Adventists Ask. The Adventist Press
Chaigne, H., & Corbin, M. J. (1965). The Catholic church and socialism. Cross Currents,15(2), 151-169.
Claar, V. C. and Klay, R. J. (2007). Economics in Christian perspective: Theory, policy, and life choices. InterVarsity Press.
Daniari, N. (2018). Adam Smith vis-à-vis neoclassical economics: A retrospective glance. Artha Vijnana, 60(3).
Duah, M. (2021). Theology of prosperity gospel. Book chapter in Prosperity Gospel: A biblical-theological evaluation, Advent Press.
Fanfani, A. (1984). Catholicism, Protestantism and Capitalism. University of Notre Dame Press.
Griffiths, B. (1984). The Creation of Wealth a Christian’s case for Capitalism. InterVarsity Press.
Grimsley, S. (2016). Understanding Socialism, Communism, and Mixed Economies: Comparison and Analysis. Retrieved from http://study.com/academy/lesson/understanding-socialism-communism-and-mixed-economies.html
Guzman, S., & Hill, J. (2017). The Protestant Ethic and the Spirit of Capitalism. CRC Press.
Johnson, M. R. (2016). The Social Philosophy of N.N. Nepluyev (1851-1908): Fragmentation, Redemption and Christian Socialism. https://www.rusjournal.org/wp-content/uploads/2016/02/Nepluyev.pdf
Landreth, H., & Colander, D. C. (2002). History of Economic Thought (4th ed.). Houghton Mifflin Company.
Marinovic, A. (2016). Book Review: The Oxford Handbook of Christianity and Economics. Claritas: Journal of Dialogue and Culture, 5(1), 10.
Marx, K., Engels, F., & Moore, S. (1972). Manifesto of the communist party. Foreign Languages Press.
McLean, I., & McMillan, A. (2014). Oxford Dictionary of Politics. Oxford University Press.
Nelson, R. H. (2019). Economic religion and the worship of progress. American Journal of Economics and Sociology, 78(2), 319-362.
Nester, R. (2018). Capitalism. Stanford Encyclopedia of Philosophy. Retrieved from https://plato.stanford.edu/entries/capitalism/.
North, G. (1987). Inherit the Earth: Biblical Blueprints for Economics. Dominion Press.
Owensby, W. L. (1988). Economic for Prophets. William B. Eerdman’s Publishing Company.
Percy, M. (2015). Christianity and Social Flourishing: Theology, Politics, and Economics. In Theology and Economics (pp. 219-237). Palgrave Macmillan.
Reiman, J., & Leighton, P. (2015). Rich get richer and the poor get prison, the (subscription): Ideology, class, and criminal justice. Routledge.