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Micro Term Paper.docx - 1 Biblical Principles in Economics...

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Biblical Principles in Economics 1
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The verse “Love your neighbor as yourself” (Matthew 22:39) makes several appearances in the Old and New Testament. The definition of economics is “The branch of knowledge concerned with the production, consumption, and transfer of wealth.” While the correlation between both of these phrases seems polar opposite, there is a connection between the broader categories. There is confusion out there as to what the Bible can bring to the world of economics. When one wants to compare both of these terms, some view it as a book that promotes socialism and capitalism, while others view it as a spiritual guide for religions. An in-depth look at the analysis behind terms like Taxation, Minimum Wage and Poverty and other ideas of economics can be traced back to the writings in the Bible. While the Bible is not meant to be used for economic reasons, the main point of examining passages is to understand their meaning and how we can use the message to influence beliefs. (Aull 1950, 393). Poverty Let’s start by looking at what some people think when they connect the Bible and economics. Using the Matthew 22:39 verse cited before, there is a belief that this is meant to promote socialism in economics. The concept of poverty is heavily discussed in the Bible, which might lead to some people to think that Jesus was on the side of the poor. If [something, or someone] no one decides to help, even in the slightest form, let alone make matters worse then the interpretation of any messages goes against what God meant for the people (Wolterstorff 197, 11). This statement can bring the question, as to how capitalism might be what the Bible is gearing towards when it comes to economics. If a country wants to keep it people poor all the
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