The Free Market is Answer to World Poverty, Says Theologian
In a presentation of his new book at the Family Research Council, biblical theologian Wayne Grudem argued that poor countries can become rich only by producing their own prosperity, and that the free market is not only the economic answer, but in tune with the Bible's moral teachings.
"Every nation that has escaped poverty has done so by producing its own prosperity," said Grudem, professor of theology and biblical studies at Phoenix Seminary in Arizona. Perhaps best known for his book Systematic Theology: An Introduction to Biblical Doctrine, Grudem presented the key themes in his new book The Poverty of Nations: A Sustainable Solution. The very first of his 79 factors to help nations escape poverty in "a free market economy."...
I'm surprised someone didn't see the irony of a commentary from a traditionalist Catholic (I agree with a lot of what he says, except on religion) from a Jewish website, now referenced on a Protestant one. I certainly couldn't resist the urge to make that happen.
when an industry becomes so powerful that it passes laws against its competition -- obamacare being a stellar example -- weakening a people can be a benefit to some, as evidenced by modern history (and I'm assuming all of history). free market only works if those in the markets are held equally accountable to sound law and order.
false paradigm splits the people, where some have this utopian idea of huge gov and some of huge capitalism .... I was reading, and we'll come to see if this is true, that now wall street groups are buying the foreclosed homes in mass to rent out (which will basically be foreign investors being our landlords) and then these investments traded as commodities? just as our home loans were traded as commodities (derivative market) that led to massive loans and the home loan bubble and crash... I have no idea about this to be true or not but wouldn't put it passed anyone, no checks and balances.
this is the ending of the American middle class, a unique experiment in land and ownership
capitalism is at odds with free market
we watch our small farmers lamenting UN dicatates, etc that snuffs out their ability to do small markets, swat teaming milk farmers, ridiculous things like that, while products proven to harm are not scrutizined....
I never understood the attacks on free market capitalism, especially when the argument centers on greed. I also find it very revealing of the supposed pope to over look the universal sin nature in man and direct his attacks on the system. If people would just take the history and the worldview basis of capitalism and compare it with the history and worldview basis of Socialism or Communism, clear distinctions arise in favor of Capitalism.