Prologue_Chapter 1: What Is the Economy In the Bible?


PROLOGUE

Chapter 1: What Is the Economy In the Bible?


General Definitions of an Economy

An “economy” generally means a country’s situation in terms of production and/or consumption of goods and services, employment or unemployment, inflation, economic growth, or the standard of living, etc. An economy may also be defined as “an activity of production, consumption, distribution, or trade of goods and services by different agents such as a household, a firm, or a government,” or “the wealth and resources of a country or region, especially in terms of production and consumption of goods and services,” or “careful management of available resources.” A household economy is thus the wealth of a household or careful management of available and scarce resources for a household. A nation’s economy is the wealth and resources of a country in terms of production and consumption or in connection with inflation, unemployment, gross domestic product (GDP), and economic growth. So, our understanding of an economy in economics textbooks is more likely a situation or a status of wealth and resources for a household or a country.

Etymology of an Economy
The word economy (經濟, jingji) in Chinese is an abbreviation of ‘經世濟民’ (jingshijimin), ‘經國濟世’ (jingguojishi), or ‘經國濟民’(jingguojimin), said to be originated either from 書經 (Shujing, the Book of Documents), one of the Five Classics of ancient Chinese literature, or from 莊子(Zhuangzi or Chuang Tzu), which means that the government manages or governs the nation’s general (including political, economic, and social) affairs and issues well and thus saves its people and makes them better off or prosper. This Chinese word, 經濟 (jingji), with its meaning, has been widely used in Asian countries – especially in China, Korea, and Japan – and includes not only the areas of economy but also the areas of politics and administration. That is, it is about a government’s general activities, plans, or ways of governing its country and making its people prosper.
The Greek word, “oikonomia (οἰκονομία),” corresponds to the English word, “economy.” The word, “oikonomia,” is a compound word of “oikos” (= house) and “nomia” (= management). So, its original meaning is the management of a house or a household. The word, “oikonomos (οἰκονόμος),” is a manager of a household.


The word ‘oikonomia occurs nine times in the New Testament – three times in the Gospel of Luke (16:2, 3, 4), one time in 1 Corinthians (9:17), three times in Ephesians (1:10, 3:2, 9), one time in Colossians (1:25), and one time in 1 Timothy (1:4).
Jesus in Luke 16:2-4 says: “2And he (a rich man) called him (a steward) and said to him, ‘What is this that I hear about you? Turn in the account of your stewardship, for you can no longer be steward.’ 3And the steward said to himself, ‘What shall I do, since my master is taking the stewardship away from me? I am not strong enough to dig, and I am ashamed to beg. 4I have decided what to do, so that people may receive me into their houses when I am put out of the stewardship.’” 
Paul in Ephesians 1:9-10: “9For he (= God) has made known to us in all wisdom and insight the mystery of his will, according to his purpose which he set forth in Christ 10as a plan for the fullness of time, to unite all things in him, things in heaven and things on earth.”; in Ephesians 3:2 and 9: “2- assuming that you have heard of the stewardship of God’s grace that was given to me for you, …9and to make all men see what is the plan of the mystery hidden for ages in God who created all things.”; in Colossians 1:25: “… of which I became a minister according to the divine office which was given to me for you, to make the word of God fully known, …”; and in 1 Timothy 1:4: “… nor to occupy themselves with myths and endless genealogies which promote speculations rather than the divine training (stewardship or order) that is in faith;”

Meanings of Oikonomia in the New Testament
First, oikonomia means “stewardship or the management of a household” in the New Testament (Luke 16:1-4).  The dishonest steward summoned each one of his master’s debtors and reduced each debtor’s debt on his or her bill. Later, the master knew what the dishonest steward had done and commended him for his shrewdness (Luke 16:8). However, it does not mean that the dishonest steward did a right thing but that he could find a way to survive in this world. Each one of us is a steward of God and what we do in this world is stewardship for God. As a steward of God, we should be honest and faithful.
Second, oikonomia means “mission or dispensation of (spreading or preaching) the gospel” (1 Corinthians 9:17; Ephesians 3:2; Colossians 1:25). Paul in 1 Corinthians 9:17-18 calls his mission or commission of spreading the gospel ‘oikonomia.’ Paul in Ephesians 3:2 calls his mission to preach the good news to the Gentiles, including the people in Ephesus, “the stewardship (or commission, NRSV) of God’s grace” that was given to him for the Gentiles. Paul regards his mission or stewardship (of spreading the gospel to the Gentiles) as “God’s grace and gift.” Paul in Colossians 1:25 speaks of his apostleship (of spreading the good news to the Gentiles) and regards it as “the divine office” that was given to him. The word apostle means ‘the one who is sent’ and every time Paul mentions his apostleship, he reminds of his duty/mission of spreading the gospel to the Gentiles. Paul uses the word, oikonomia (economy), in defining his mission or commission of spreading the gospel to the Gentiles, believing that his mission of spreading the good news is to bring people to God for them to be saved.
Third, in our relationship with God, oikonomia means God’s plan or dispensation (of human salvation) (Ephesians 1:9-10, 3:2 & 9; 1 Timothy 1:4). Paul in Ephesians 1:9-10 and 3:9 uses oikonomia in connection with God, meaning God’s saving plan of his people through Jesus Christ, which was hidden for a long time but is now revealed as the opportune time came. The “stewardship” of God’s grace in Ephesians 3:2 can also be interpreted as God’s salvation plan of his grace about which Paul was commissioned to preach. Paul in 1 Timothy 1:3-4 also uses oikonomia in connection with God, meaning the divine training (or plan, stewardship or order) in faith. Paul interprets or understands God’s economy as his saving act or plan (or dispensation) of his people – believers/Christians – in his opportune time.

General Definitions of Economics
Like an economy, there are various ways of defining economics: “the study of economic behaviors of different units such as a household, a firm, a market or an industry, a government, or a nation as a whole”; or “the study of how society chooses to allocate its scarce resources to the production of goods and services to satisfy unlimited wants”; or “the study of the choices people make to attain their goals, given their scarce resources.” When we study economics, we study an economy of a household – its consumption behavior and goal to see how a household can manage its economy optimally; an economy of a firm – its production behavior and goal to see how a business can manage its business optimally; and an economy of a country – its aggregate supply and demand, economic growth, economic policies to see how the government can resolve economic issues such as inflation and unemployment and attain stable economic growth.
Economics usually consists of microeconomics and macroeconomics. Microeconomics is the study of how households and firms make choices, how they interact in markets, and how the government attempts to influence their choices; or the study of decision making by a single individual, household, firm, industry, or level of government.  Macroeconomics is the study of the economy as a whole, including topics such as inflation, unemployment, and economic growth; or the study of decision making for the economy as a whole. I personally define economics as “the study of decision making” for a household, a firm, a market or an industry, or a government (Microeconomics) and for a country as a whole (Macroeconomics).   

Economics in the Bible
We observed that the word, economy (oikonomia) is used for three different meanings: 1. management or stewardship of a household; 2. mission, commission, duty, or office (of preaching or spreading the gospel) of Paul as an apostle; and 3. a plan or dispensation (of human salvation) of God. A literal translation of the word, economy (oikonomia), “management of a household” can represent all these different translations.
Paul performs the act of stewardship that ‘was given to him for the Gentiles’ (Eph. 3:2; Col. 1:25). That is, Paul manages the household of God by preaching or spreading the gospel (1Cor. 9:17; Eph. 3:2; Col. 1:25) to expand the business of God’s household to the Gentiles (other nations and people). God manages His own household by making His plan (of saving people) known to His people (Eph. 1:10, 3:2, 9; 1Tim. 1:4) for the fullness of time.
So, what is economics in the Bible? Economics within the New Testament can be defined as the study of stewardship or management of an individual household, stewardship or management of God for His own household (kingdom of God), and Paul’s and all Christians’ stewardship of expanding God’s household (kingdom of God) to other nations and people by spreading the gospel. We may call the study of stewardship or management of an individual household the microeconomic perspective; the study of stewardship of God for His own household (kingdom of God) the macroeconomic perspective; and the study of Paul’s and all Christians’ stewardship of expanding God’s household (kingdom of God) to other nations and people the international economic perspective. As economics in general is about decision making, so economics in the Bible is about decision making for the household of God (macroeconomic aspects), for each individual household (microeconomic aspects), for the expansion of God’s household (international economic aspects), and each individual’s conduct (economic ethical aspects).


Part I of this book discusses the economy of God, which is the macroeconomic perspective and deals with macroeconomic topics. Paul mainly focuses on God’s saving plan or act when he refers to “the economy of God” ( οἰκονομία τοῦ Θεοῦ) in the New Testament as it is the most important and imminent matter for those who were lost by the grace of God. However, the economy of God includes not only his saving plan or act of human beings but also His various governing activities for His people as we can find in the Old Testament and Jesus’ proclamation in the books of Gospels, especially in John. So, in Part I, we will study God’s various governing activities and instructions on some macroeconomic topics, including daily food, land, loans, tithes/taxes, wealth, poverty, and others.
Part II deals with the economy of an individual household, which is the microeconomic perspective and deals with microeconomic topics. An individual household is the smallest unit of the household of God. Each individual of a household is a manager or steward who makes decision to manage a household that is entrusted to him/her by God. So, in Part II, we will study each individual’s various managing and governing activities for his/her household and decision making on some microeconomic issues, including talent or money, labor and other resources.
Part III examines the economy of evangelism or the economy of the church as a whole, which is the international economic perspective. Luke in the Book of Acts describes Paul’s experience of encountering with Jesus who appeared to him in the form of light on his way to Damascus (Acts 9:3-19, 22:6-16, 26:9-23). In Acts 26:15-18, Jesus tells Paul: “15… I am Jesus whom you are persecuting. 16But rise and stand upon your feet; for I have appeared to you for this purpose, to appoint you to serve and  bear witness to the things in which you have seen me and to those in which I will appear to you, 17delivering you from the people and from the Gentiles – to whom I send you 18to open their eyes, that they may turn from darkness to light and from the power of Satan to God, that they may receive forgiveness of sins and a place among those who are sanctified by faith in me.” Paul in Galatians in 1:15-16 describes this experience in his own words: “15But when he (= God) who had set me apart before I was born, and had called me through his grace, 16was pleased to reveal his Son (= Jesus Christ) to me, in order that I might preach him among the Gentiles.” Paul strongly claims his apostleship (from the Greek word, ἀποστέλλω, send out) as he regards it very seriously and it was disputed and opposed by Jewish Christians. To Paul, his apostleship is not authority but duty or commission, which was given to him by God, to preach the gospel to the Gentiles.
Paul’s economy (mission, commission, duty, or office), which was given to him, is also any Christian’s economy as he/she belongs to Christ and is called to be a witness of Jesus Christ (Acts 1:8). Paul’s economy is also the economy of the church as a whole that is the body of Christ who had come to us to preach the Kingdom of God and let us fully know God’s salvation plan at his opportune time. The purpose or mission of the church is to preach or spread the gospel to many nations. By doing so, the economy of God is expanded to many nations and people and fully known to them (Matthew 28:19-20). So, in Part III, we will study the economy of evangelism, which is our mission of expanding the economy of God.
Part IV investigates Christians’ economic ethics in the Bible. Each Christian belongs to a family or a household, a church, a company, a community, and a nation. How should each Christian’s economic ethical conduct be as a member of each different unit? So, in Part IV, we will discuss Christians’ economic ethics that we can find in the Bible.

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Economics in the Bible_Review

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