Christian Economics and Freedom

QUESTION: Christian Economics – Freedom and Economics

ANSWER:

The fundamental difference between a capitalist and a socialist economic system is that capitalism trusts free markets while socialism requires a planned economy and state control of pricing, production, and distribution of goods and services. Socialism relies on increased political power and a powerful central government to achieve the goals of economic equality bureaucracies created by the welfare system.

Christian Economics – Economic Freedom
In a pure capitalist economic system, far less political power is necessary because the government does not control incomes, prices, and production. Citizens are free to determine how they will spend their money and use their resources.

In a socialist economy, individuals must relinquish a great deal of control over their lives to the government. Beisner says, “The only way to arrive at equal fruits is to equalize behavior, and that requires robbing men of liberty, making them slaves.”¹ Economic freedoms and the right to private property are crucial in maintaining political freedom.

Notes:

Rendered with permission from the book,Understanding the Times: The Collision of Today’s Competing Worldviews(Rev. 2^nd ed), David Noebel, Summit Press, 2006. Compliments of John Stonestreet, David Noebel, and the Christian Worldview Ministry at Summit Ministries. All rights reserved in the original.

¹ E. Calvin Beisner, Prosperity and Poverty: The Compassionate Use of Resources in a World of Scarcity (Westchester, IL: Crossway Books, 1988), 54.