Thursday, November 12, 2009

I don't get it!

I confess I don't know much about economics.  I recall a professor saying something like: "If people have faith in the monetary system, it will work.  If they don't, it won't." That sums it up fairly well for me.
What I really don't understand is why the stock market goes up at the same time unemployment rises. If more people are out of work why would the value of companies increase? The answer is fairly simple, I guess: Companies are making more money with fewer employees which means productivity has increased. Productivity and efficiency are good.  I am not in favor of featherbedding. But let's not confuse any of this with the Gospel.
Jesus upset his disciples (Matthew 26) by allowing a woman to anoint him with an expensive oil. To those who objected that the oil could have been converted to cash for the poor, Jesus responded by quoting Deuteronomy 15: ... you always have the poor with you.  Deuteronomy 15 challenges the notion that productivity is the first priority of a culture's economy. This chapter insists that lenders have a responsibility to not be hard-hearted [every seventh year you shall grant a remission of debts] and that the community is responsible for caring for the poor [open your hand to the poor and needy neighbor in your land]. The Law mandates a sabbatical year or year of release in which loans are forgiven. The Law demands a portion be set aside for those in need and for the Lord.
It will be good when people are able to start spending again. But our first fruits of our efforts should be for those in need and the purposes of the Gospel and the Lord.

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