The Ideal Economy With Jerry Bowyer “Economic Worldview Pt. 1” | FaithFi
April 12, 2023
The Ideal Economy With Jerry Bowyer “Economic Worldview Pt. 1”
Faith & Finance with Rob West
“In the beginning, God created the heavens and the earth.” Genesis 1:1 Those are familiar words that lay the foundation for everything that comes after in the Bible, but you probably didn’t know that forms the basis for the ideal economy. We’ll talk about it with Jerry Bowyer.
“In the beginning, God created the heavens and the earth.” Genesis 1:1 Those are familiar words that lay the foundation for everything that comes after in the Bible, but you probably didn’t know that forms the basis for the ideal economy. We’ll talk about it with Jerry Bowyer.
Jerry Bowyer is our resident economist and a WORLD Opinions contributor.
Today we start a 6-part series of discussions titled “Economic Worldview.”
We start with the question, “How did God create the world and man to be productive?”
The most important, fundamental aspect of economics is an understanding that in the beginning, God created the Heavens and the Earth.
He created a world that continues to grow after he made it. That means, there is always the possibility of growth. Growth is built into God’s creation. That’s why we can have economic growth - because creation itself grows.
Growth starts with a seed. We can consume the seed or delay gratification and watch it grow. That’s the virtuous cycle. In a healthy economy, there is a focus on reinvestment rather than overconsumption.
Whenever we have reinvestment, there’s some risk involved, which means you need to have good, firm institutions — a house built on stone rather than sand. We often don’t know which houses are built on rock and which are built on sand right away. From a distance, they look similar. But when the storms come, it becomes clear. We have seen this play out recently with multiple US bank failures. Banks that were built on sand, rather than God’s principles, came tumbling down.
You can read more of his godly insights on economics at WNG.org.
On today’s program, Rob also answers listener questions:
Should you reduce retirement contributions to save for the down payment on a house?
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