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Economics in Christian Perspective - Ch 2

Economics in Christian Perspective - Ch 2 - Price changes...

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Economics in Christian Perspective – Chapter 2: Markets “Scarcity is the fundamental fact of human life with which economy deals” (p29) - People must consider their self-interest, not selfishness in order to deal with scarcity Communist economies fail because they take out the necessity for people to fully engage themselves in what they are doing. - Also tried to replace religious motivation with worship of their communist leader “Virtues like saving, sharing and hard work are empty without freedom to chose between these and the alternatives – overspending, stinginess, and loafing on the job.” (p35)
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Unformatted text preview: Price changes create incentive that encourage innovation and substitution (p36) i.e. gas prices encourage the use of other sources of energy. Trade barriers are unchristian because they violate stewardships and give the government power over individual decision “A good society is one in which democracy and market exchanges are undergirded by organizations and communities in faith” (p45)-b/c God is the ultimate source of virtue, meaning and happiness God wants us to be grateful, to enjoy, and to share...
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