A 2009 survey by Rasmussen Reports found that…
53% of American adults believe capitalism is a better economic system than socialism.
20% say socialism is better than capitalism
27% said they don’t know which system is better.
A couple weeks ago, we started to zoom out in our study of what the Bible says about Work, to look at work not from a microeconomic level (your job, your boss, your coworkers), but at the macroeconomic level (looking at economic structures like socialism, and in particular free market capitalism here in the US).
No one contends that Capitalism is perfect, because no economic structure will be perfect this side of heaven. When it’s operated by fallen humans. But we can’t compare it to some socialistic utopia that’s only existed in theory.
Instead when we look at actual socialistic states like the Soviet Union, Cuba, China and Cambodia—we see the terrible cost of these experiments.
So we want to compare the basic principles of capitalism with the Bible. Last time we looked at the principle, ownership, and saw that it’s inherently good. God is the first Owner. “The earth is the Lord’s and the fullness thereof.” He approves of personal ownership when He commands us not to steal our neighbor’s property. Why? Because it belongs to him he owns it.