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Are Free Markets Compatible with the Bible?

A couple of years ago, I heard a talk given by a religion professor in which he argued that free markets were incompatible with the Bible. Let’s look quickly at some of the texts he used:

The rich young ruler of Luke 18:18-25 (also Matthew 19:16-26 and Mark 10:17-27) was told by Jesus that he should give all his wealth to the poor. And yet this is not a condemnation of markets or wealth inequality. I suggest that this was to point out that Jesus was putting a finger on the very thing that this man held in higher regard than God: his material wealth. Those who have wealth are strongly tempted to idolize it and reject God in favor of those temporary comforts wealth allows. But wealth is not evil. Ethical means of gaining wealth through markets aren’t evil either.

The book of Amos played a large part in the professor’s argument. Remember that Amos was a prophet and was speaking God’s words to the people, and especially a group of powerful wealthy people in Israel. He used harsh words for the fattened rich who relax in one of their multiple houses and “crush the needy” while asking for another drink. (Amos 3:15-4:1)

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  • Evrmyrtle

    Using a little common sense, first we do not know unless we can read Greek the precise way that this scripture is written.. Again using common sense which GOD, I believe expects us to do, riches should be earned honestly and should not be hugged to the heart and not shared with the hungry. It is not the money that counts, it is the heart. A GODLY heart would never hoard these riches where it only gathers dust and more money, that you cannot spend. Share it, don't be afraid to feed the family down the road with the money, that you cannot spent. not in a hundred years, while it is doing you or nobody else any good, share.

    We hear every day people throwing out these verses like it is written, just like that, in stone. Makes me wonder if they have given everything they own away or do they keep enough to feed and care for their families,

  • http://www.facebook.com/people/David-B-Severy/557985964 David B Severy

    With the Bible. The Bible is a book. The question is what other economic system would God accept? LOL. In heaven the sin infested greed based free market and the sin infested greed for control tyranny of communism, AND in the insanely sin infested greed for control and torture tyranny of Islam WILL BE NO MORE! There won't be any real need for money in heaven, God will give us everything we need! He tried to do it once but Adam ate the fruit! WAKE UP !!!!!!!!!!! JESUS IS COMING BACK !!!!!!!!!