Michael Kruse is a guest blogger on Jesus Creed discussing Christian economics. It's fascinating stuff.
His first article was on the concept of scarcity--the basis of economic theory. Economic scarcity is the idea that there are not enough resources in the world for everyone to have everything they want. (Note that this is different than what most people mean by the term "scarcity," i.e., "rarity." Economic scarcity does not mean that there are not enough resources for everyone to survive, but not enough for everyone to have as much as they want.) The discussion revolves around whether ecnomic scarcity contradicts Christian belief in God's provision, so that theology and economics are against each other from the start.
The second article is on the distinction between "positive economics" and "normative economics." Positive economics deals with the system as it is. Normative economics deals with the system as it should be. Kruse says that too often theologians enter the discussion wanting only to discuss normative economics, so that they are written off by economists as impractical idealists.
I will definitely be following this series.
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