Why Faith and Free Markets Need Each Other

By Parker, Star | Examiner (Washington, D.C.), The, September 7, 2013 | Go to article overview

Why Faith and Free Markets Need Each Other


Parker, Star, Examiner (Washington, D.C.), The


An important new book has recently been published which addresses the question of global poverty, but does so by provoking the reader to also consider our own nation and demand that we better understand ourselves and the wellsprings of our own success.

Two evangelical Christians have teamed up, one an economist and one a theology professor, to write "Poverty of Nations: A Sustainable Solution."

The economist is Barry Asmus, senior economist at the National Center for Policy Analysis. The professor is Wayne Grudem, research professor of theology and biblical studies at Phoenix Seminary.

There is no question more perplexing than "Why are some nations poor and some rich?"

What accounts for the astounding success of our nation, at the same time the world's most prosperous but also, at just 227 years old, one of the world's youngest?

The mystery of the nature and sources of wealth and poverty is far from new, and Asmus and Gruden survey the vast literature dealing with this most basic question.

They also review the long experience of attempts by governments to design policies to alleviate and eradicate poverty in their own country and in others.

In the end, the picture that emerges appears quite clear. Over thousands of years of human experience, going through economic arrangements such as tribalism, slavery, feudalism, mercantilism, socialism and communism, and welfare-statism, no arrangement can compare in creating new value, production of goods and services, and prosperity, like the free market.

However, despite the success of free-market economies, they are regularly subject to political challenge because of the ongoing human desire to understand the "ghost in the machine," so to speak, and control it and its outcomes.

How does it work? How does this prosperity happen when no one seems to be in charge, and when there seems to be no place to turn to see who designed and is running it all?

The authors help the lay reader understand key aspects of free markets that make them work so well - ownership and private property, the vital information conveyed by prices in the marketplace and profits and losses of business, specialization and competition, and creativity and entrepreneurship. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Why Faith and Free Markets Need Each Other
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.