Is it time for new economic solutions?
The economic systems of our world are in disarray. While we can hope that governments, central banks or crypto crazes can solve the problems, it is highly probable that we will continue to encounter problems until we fix the underlying issues. Now, smart people know there are challenges and we see an array of "solutions" including CSR, ESG, climate accords, SDGs and more.
We see the riotous effects of “new” philosophies hoping to replace what is with something different. There is hope. “In the last days…” says the prophet Isaiah. I will not delve into it much but, to quote what the late Benjamin Rogge said in 1965, “the typical American who calls himself a Christian and who makes pronouncements… on economic policies or institutions, does so out of an almost complete ignorance of the simplest and most widely accepted tools of economic analysis. If something arouses his Christian concern, he asks not whether it is water or gasoline he is tossing on the economic fire—he asks only whether it is well intended.”[1] Are we not in an era where Christians applaud burning in the main streets of society in the name of being a social cause? We need to do better.
We may be closer to answers than we think
In the world of 2021+ the challenges are formidable, but if we look back for the fingerprints of God in recent decades we might see we are closer than we think to solutions. The people who said God’s economy will become the main thing… perhaps they are righter than right. I believe we are closer to solutions than ever before, AND I believe it will take a concerted effort of a devoted few to press through until Kingdom Economics comes to life in our generation.
Today we are viewing capital more holistically. Movements in the marketplace are seeing thousands of businesses wanting to get into God’s business. Shareholders are giving way to stakeholders, and the best metaphor, arguably, for stakeholder analysis is to recapture a biblical understanding of “households.” Triple bottom line… it simply is not enough. We are going way beyond “people, planet, profits” to a richer set of metrics that are not only good for today, but good for eternity. Giants are being tweeted, hash-tagged and aimed at. Beyond the rants, images of transformed societies are emerging from the mists of troubled global times. We have a shot at truly discipling nations in our generation.
It will not happen automatically. We don’t get transformation by proclamation or wishful thinking. We have to return to biblically-rooted Kingdom Economics and seek out principles of sustainable transformation. Beyond the knowing of principles, we must learn the ways of God, recognize good and bad practices, and learn to write culture-changing policies that fuel the movement.
Enter Kingdom Economics
The vast majority of people of followers of Jesus Christ are still trapped in the wrong financial system. Thankfully there are pioneers (like Faith Driver Investor), who are creating funds (like Inspire Investing), platforms (FDI) and metrics (like impact funds, universities and EOM.org) that help us shift into Kingdom Economics. Which system we live in is first a matter of the heart—where do we place our trust—and then a matter of priorities, obedience, praxis. Collectively we have many of the pieces, but we don’t yet have all the answers. Will a new movement of kingdom capitalists fund adventures into the unknown, or will the scorecards of yesterday tether our capital to the sinking systems of this world?
I trust you will enjoy exploring these questions and concepts in my new book, Kingdom Economics.
[1] Benjamin Rogge, “Christian Economics: Myth or Reality?” The Freeman, December 1965