Economics: Does the Bible ever mention Economics?
Updated: Jan 28
Mindy McKinley, an economics professor at Wichita State University, defines economics as "The science of scarcity; the science of how individuals and societies deal with the fact that wants are greater than the limited resources available to satisfy those wants." (Mindy McKinley, 2025, Unit 1 Slides: slide 3). Economics is another way to view the world. Each religion and country has its unique economic system. Today, I will present the answer to the question proposed in the title of this article, "Does the Bible ever mention economics?" The simple answer is a resounding yes. First, I will provide a list of references that talk about economics and how God managed people's wants rather than the limited resources available to satisfy those wants.
Let us consider the case concerning the Israelites. They were the neediest people on the planet. God had just rescued them from the hands of the Egyptians, and then they were complaining that their life was better off in Egypt. They had the warped perspective that the marginal benefit of staying in Egypt outweighed the marginal cost of living in Egypt. This complaining led to a major marginal cost of wandering in the desert for 40 years. So this is the first case presenting the facts that God did indeed talk about economics without mentioning the word "economics."
Then, there is a second case concerning the Ten Commandments. The Ten Commandments and the Levitical Code are how God dealt with the fact that wants are greater than the limited resources available to satisfy those wants. The Ten Commandments in the Old Testament helped the nation of Israel, primarily the Israelites, realize how to deal with their wants. The marginal cost of stealing an item outweighed the marginal benefit of stealing an item. The marginal cost of taking the Lord's name in vain outweighed the marginal benefit of taking the Lord's name in vain. We may desire and want to take the Lord's name in vain and steal items because we are envious and jealous of the person having the item, so we want it instead. The reason is that we want it. Our wants are unlimited. This leads to the final case and most important case.
The third case is sin. Sin is anything that you think, say, or do that displeases God or breaks God's law. The marginal cost of sinning is death, both a spiritual death (separation between God and man) and a physical death. Romans 6:23a says, "For the wages of sin is death." The cost of sinning, the payment of sinning, the wage of sinning, is death—separation between God and man. However, if we realize this marginal cost of sinning is too high, we can lay down our sins at the foot of the cross. You may wonder, 'How can I lay my sins at the foot of the cross?' I am glad that you asked. Romans 6:23b states, "But the gift of God is eternal life through Jesus Christ our Lord." However, the marginal benefit of living a life for God and accepting the fact that we are sinners and the only perfect sacrifice that can rescue us from our sin nature, Jesus Christ, is eternal life with God forever. We can have unlimited resources and never die spiritually if we believe in the great promises of God. The marginal cost of sinning far, far outweighs the marginal benefit of sinning. We should never sin. We should live a life worthy of the calling that God calls us to.
In conclusion, we examined three cases: the Israelites, the Ten Commandments, and sinning. We saw how the marginal cost of sinning far, far outweighs the marginal benefit of sinning. We also saw how God has instituted an economic system that is perfect and without sin. God can give us resources and can take them away at a moment's notice. He is the supreme ruler of our lives. If you have never placed your faith in Jesus Christ, do not delay. The marginal benefit of sinning is not worth it. Consider what you are missing out on if you do not accept Jesus Christ as your personal Lord and Savior. Make Him the Lord of your life today.
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