scholarly journals The Biblical Ethic of Free Market Exchange

2021 ◽  
Vol 9 ◽  
Author(s):  
Jeffery Degner
Keyword(s):  
Social Interaction ◽  
Division Of Labor ◽  
Free Market ◽  
Austrian School ◽  
Market Forces ◽  
Market Exchange ◽  
Failed States ◽  
Free Markets ◽  
The Bible ◽  
Voluntary Exchange

Despite the calls of ‘Christian Socialists’ to bring market forces under the control of the state and its temporal power, the supreme text of Christianity not only supports the existence of free markets, it also prescribes their existence and operation as the normal, God-given means of social interaction. Both the Old and New Testaments of the Bible provide an ethical defense of the market itself, the division of labor, the principle of voluntary exchange, and the condemnation of force, fraud, and coercion. As the introduction of force into society and exchange is always and ever the policy of interventionists and socialists, the aim of this paper is to oppose those doctrines on the grounds of Biblical ethics. This is not to dismiss the pragmatic, historic, or epistemological failings of the interventionists. The dismantling of socialism on these grounds has been thorough and devastating as provided by the Austrian school of economics. This work provides a moral and ethical ground that not only dismisses the socialist agenda, but adds to an already robust body of work that rejects its interventions due to its inefficiencies, failed states, and its pretense of knowledge.

scholarly journals The “Invisible Hand” of Economic Markets Can Be Visualized through the Synergy Created by Division of Labor

Complexity ◽  
2017 ◽  
Vol 2017 ◽  
pp. 1-10 ◽  
Author(s):  
Klaus Jaffé
Keyword(s):  
Division Of Labor ◽  
Adam Smith ◽  
Stable State ◽  
Invisible Hand ◽  
Market Forces ◽  
Free Markets ◽  
Economic Output ◽  
Economic Markets ◽  
Economic Work ◽  
Complex Settings

Inspired by Adam Smith and Friedrich Hayek, economists promoting free markets postulate the existence of invisible forces that drive economic growth. Simulations with Sociodynamica allowed the emergence of market forces in virtual economies, showing that the synergistic working of division of labor in complex settings favors a stable state where all actors benefit (win-win interaction). By visualizing the detailed dynamics underlying this phenomenon in a simple virtual economy, the elements underpinning the synergistic effect on economic output produced by the division of labor between agents could be dissected. These are heterogeneity or spatial or temporal heterogeneous environment and/or agents; complementary activities of agents, with divergent optimization options; and synchrony. Markets help synchronize agent’s actions. The larger the contact horizon between participants of the market is, the more efficient the market forces act. These features allow for social processes that increase the information available and increase simultaneously the capacity of producing useful economic work, that is, synergy. This insight, although trivial if viewed a posteriori, improves our understanding of the source and nature of synergies in real economic markets and might render economic and natural sciences more consilient.

Economics and Ethics within the Austrian School of Economics

2019 ◽  
pp. 228-247
Author(s):  
Peter Boettke ◽  
Kaitlyn Woltz
Keyword(s):  
Twentieth Century ◽  
Economic Analysis ◽  
Free Market ◽  
Austrian School ◽  
Social Cooperation ◽  
Market System ◽  
Free Markets ◽  
Capitalist System ◽  
Strict Adherence ◽  
Austrian School Of Economics

Twentieth-century Austrian economists became known as champions of the free-market system yet claimed value-freedom in their economic analysis. However, advocacy of free markets is viewed as inherently ideological, involving ethical assumptions within the economic analysis. In this chapter, we discuss the connection between economics and ethics in the Austrian school of economics. We explore what value-freedom in the Austrian school entails and how twentieth-century Austrian economists were able to hold dual positions as value-free economists and advocates of free markets. We argue that Austrian economists separate ethical assumptions from their economic analysis. They maintain strict adherence to value-free analysis through an emphasis on social cooperation, which allows them to maintain their objectivity with respect to individuals’ ends. This combination allows Austrian economists to maintain their positions as value-free scientists while arguing that a free-market, capitalist system will best achieve peoples’ diverse ends.

The Division of Labor as Social Interaction

1976 ◽  
Vol 23 (3) ◽  
pp. 304-313 ◽  
Author(s):  
Eliot Freidson
Keyword(s):  
Social Interaction ◽  
Division Of Labor

Evaluasi Komoditi Ekspor di Bandara Soekarno Hatta

WARTA ARDHIA ◽  
2010 ◽  
Vol 36 (4) ◽  
pp. 317-328
Author(s):  
Hartati Yusminah
Keyword(s):  
Free Trade ◽  
European Economic Community ◽  
Free Market ◽  
Free Trade Area ◽  
Air Transport ◽  
Transport Sector ◽  
Free Markets ◽  
Trade Area ◽  
Asian Pacific

Seeing of free trade in several continental markets such as of the establishment of the European Economic Community (EEC). The Asian Pacific Economy (Pasific Economy Community) NORTH America Free Trade Are (NAFTA), ASEAN Free Trade Area (AFTA), ASEAN free market with China is indirectly effect on determination of Indonesian strategy in exploting oppurtunities commodities what can penetrate the international market.With the opening of free markets Asean plus China which commenced in the year 2010 was the air transport sector has an important role in supporting efforts to increase exports, especially in the provision of adequate transport service.Soekarno Hatta airport is one of the airport that serves as the gates way of trade via air transport network, that plays an important role in supporting and smoth export and import of commodities.

PERISTIWA MAKAN DALAM KULTUR MASA KINI DAN EKARISTI

2022 ◽  
Vol 21 (2) ◽  
pp. 218-237
Author(s):  
Fandi Gilar Saputro
Keyword(s):  
Social Interaction ◽  
Cultural Identity ◽  
The Core ◽  
The Bible ◽  
Significant Events

Peristiwa makan adalah moment berharga bagi manusia. Makan bukan hanya peristiwa memasukkan makanan ke dalam mulut namun lebih dari itu peristiwa makan memiliki makna yang mendalam antara lain sebagai interaksi sosial dan identitas kultural. Makan adalah kegiatan sehari-hari yang selalu dilakukan manusia. Untuk bertahan hidup manusia harus makan. Seiring berjalannya waktu peristiwa makan bukan sekadar untuk mengenyangkan perut tapi juga suatu simbol untuk merayakan peristiwa penting. Bahkan dalam Kitab Suci banyak peristiwa iman yang ditandai dengan peristiwa makan. Peristiwa makan ini dimaknai sebagai moment perjumpaan kehidupan. Dalam tradisi Kristiani kita juga menemukan tradisi perjamuan ilahi yakni Ekaristi. Inti dari perayaan Ekaristi adalah ‘makan’ Tubuh dan Darah Kristus yakni yang disebut dengan Hosti dan Anggur. Segala bentuk aktivitas makan dalam kehidupan manusia dapat berdaya guna dan dapat membantu manusia memakani hidupnya dengan lebih mendalam. Untuk itu buah pemikiran dari teologi makan sangat dibutuhkan agar proses pencarian makna terdalam dari peristiwa makan pada kultur masa kini dan Ekaristi dapat ditemukan.   The occasion of eating is considered a precious moment for all people. Eating is not just a regime of putting food into the mouth, but rather than that, it is of deeper significance. Eating has means of social interaction and also of cultural identity. It is a day to day regular everyone committed to. In order to survive, humans are obliged to eat. As history went by, eating is not just an act of satiating the gut, but also marking significant events. In the Bible, numerous events of faith are celebrated through eating. To eat is to attend a life encounter. In Christian traditions, we understand that the Eucharist is a divine form of eating. The core of the Eucharist is to 'eat' the Corpus and Blood of Christ which is present in the Host and Wine. Any kinds of eating there is, shall give empowerment to help humans understand their lives more deeply. Thus, the fruit of the idea of the theology of eating is required to seek deepest eloquence from the occasion of eating in present culture and the Eucharist, shall be found.

Misaligned Market

2011 ◽  
pp. 441-457
Author(s):  
Ruey-Lin Hsiao
Keyword(s):  
Supply Chain ◽  
Technology Adoption ◽  
Product Quality ◽  
Free Market ◽  
Business Environment ◽  
Market Exchange ◽  
Agricultural Market ◽  
Agricultural Industry ◽  
Contextual Features ◽  
Product Specification

This article examines e-marketplace adoption difficulties from a contextualist perspective. The analysis of industrial characteristics will unearth the adopter’s supply chain practices and the contextual features which are unfavorable for e-marketplace deployment. To gain a deeper understanding, this research examines an unsuccessful e-marketplace adoption for agricultural industry in China. The tension created by the these two incongruent contexts results in a misaligned market, as a free-market principle (assumed to be an integral part of the e-marketplace) is imposed on an agricultural market exchange which is characterized by a regulated business environment and a monopolistic market, and which emphasizes variances in product quality, tacit product specification, exclusive suppliers, and spotty purchasing. Practical and theoretical implications of the findings are discussed with reference to technology adoption and technology-organization alignment literature.

Price Setting and Other Attempts to Control the Economy

2016 ◽  
Author(s):  
Egbert Koops
Keyword(s):  
Free Market ◽  
Price Formation ◽  
Market Forces ◽  
Price Setting ◽  
Price Shocks ◽  
Market Prices ◽  
Government Interventions ◽  
Party Autonomy ◽  
Roman Economy ◽  
Similar Vein

Prices in the Roman economy were generally set by the operation of free market forces. Occasional government interventions in the form of price ceilings occurred in times of crisis, to stabilise volatile or politically important markets, or to signal moral policies. The mechanism of price formation was generally understood, but price shocks were expected to be curbed. In a similar vein, the valuation techniques developed by the Roman jurists were based on “true” prices rather than pure market prices. Even so, party autonomy in price setting was the norm. The grain market was guided to some extent for obvious political reasons, but even here there was room for private initiative. The freedom to contract was stressed as late as Diocletian, but, not much later, rampant inflation forced him to issue his edict on maximum prices, which remains an exceptional regulation in many ways.

The Reform of Agricultural Marketing in China Since 1978

1988 ◽  
Vol 113 ◽  
pp. 1-28 ◽  
Author(s):  
Andrew Watson
Keyword(s):  
Agricultural Policy ◽  
Agricultural Production ◽  
Free Market ◽  
Economic Change ◽  
Small Scale ◽  
Free Markets ◽  
Agricultural Marketing ◽  
Scale Free ◽  
Household Level ◽  
Surplus Production

With the proclamation of Document 1, 1983, reform of marketing became one of the major targets of agricultural policy in China. This official emphasis on the need to liberalize the marketing system was, however, little more than a confirmation of a process which was already taking place. The initial reforms of labour management and prices in 1978 had led to a decentralization of economic authority to the household level. The commune system was in decline and the number of small-scale free markets was increasing rapidly as peasants took advantage of their new-found freedom to trade their surplus production as they wished. Responding to the economic stimulus offered by the new structure of prices and to the organizational flexibility offered by the decentralization of management, some households began to plan at least part of their production for sale on the market, there by initiating a process of specialization and commercialization. Once begun, this process fed backwards into production by encouraging further specialization and diversification and forwards into marketing by stimulating the emergence of longdistance trade carried out by specialist merchants and traders. In effect, the free market began to act as an engine of economic change, shaping both the structure of agricultural production and employment and the network of new economic linkages through the emerging hierarchy of market centres.

The Bible and the Religious Right

2017 ◽  
Author(s):  
Rebecca Barrett-Fox
Keyword(s):  
Free Market ◽  
The United States ◽  
Religious Right ◽  
Individual Liberty ◽  
Conservative Politics ◽  
The Bible ◽  
Political Views ◽  
Free Market Capitalism ◽  
American Law ◽  
Conservative Christians

This chapter identifies the doctrines that are central to conservative American Christians’ interpretation of biblical texts. Such believers view their scriptures as inerrant, literal, divinely inspired, authoritative, easily understood, internally consistent, and coherent, a vision of the Bible that does not necessarily lead to conservative social and political views, even as those conservative Christians who participate in conservative politics insist that it must. Those who use conservative faith to justify conservative politics form the Religious Right, which seeks to form a “Bible-based” America, one in which a limited government promotes a strong international presence, free-market capitalism, and individual liberty. This chapter traces how the Religious Right promotes the Bible as the root of American law, a hierarchy that allows them to argue that all those in the United States, not merely conservative Christians, are under the authority of the Bible, creating a mandate for Christians to seek and maintain power.

The good moral character requirement for occupational licensing

2019 ◽  
Vol 43 (6) ◽  
pp. 717-733
Author(s):  
Bruce Robert Elder ◽  
Laurie Swinney
Keyword(s):  
Quantitative Research ◽  
Moral Character ◽  
Occupational Licensing ◽  
Free Markets ◽  
Content Type ◽  
Group Occupations ◽  
Industry Group ◽  
Government Documents ◽  
Voluntary Exchange ◽  
State Industry

Purpose The purpose of this study is to investigate the extent to which a character component is required for occupational licensing by state, industry and occupation. This study also investigates whether the good moral character (GMC) is defined and how GMC is defined in state statutes. Investigating the GMC requirement is important to society at large because character is a vital factor for trust and trust is an essential component to voluntary exchange and free markets. Investigating the GMC requirement is also important to the thousands of rehabilitated individuals who may be denied work in licensed occupations because of past transgressions. Design/methodology/approach The quantitative research data were collected from state licensing statutes. The number of licensed occupations within each of the 50 states that require GMC was tabulated, as well as the number of states that require GMC for licensing by industry group. In addition, an occupation that requires GMC in a high number of states was compared to an occupation that requires GMC in a low number of states within 11 industry groups. Finally, regulatory statutes were searched to determine how good moral character is defined by each of the state licensing boards for the select occupations. Findings This paper reports that the inclusion of a character component within regulatory licensing statutes varies widely by occupation and by state. The number of occupations requiring GMC ranged from 8 to 119 per state. The number of states requiring GMC ranged from 12 to 49 per industry group. Occupations within industry groups that are more frequently licensed are also more likely to require GMC than occupations that are less frequently licensed. Occupations that are more frequently licensed, however, are generally not more likely to define GMC in their regulatory statutes. Only accounting, an occupation that requires GMC in most states, also defines GMC in more states than any of the other select occupations. Research limitations/implications Only state regulatory statutes were searched for definitions of GMC. Definitions could be included in other government documents such as rules or regulations. As these additional sources were not searched, the number of states that define GMC for the select occupations cited in this study may be understated. Originality/value Prior research has included only studies of the GMC requirement relating to the licensing of attorneys and accountants. The current research explores the extent that good moral character is required for licensing across states, industries and select occupations. This research agrees with prior research that GMC, although providing an important foundation for public trust, is typically not well-defined. To counter criticism of the requirement, this paper concludes with a call for the inclusion of a GMC definition within occupational licensing statutes that is “narrowly and precisely construed, avoiding problems of both vagueness and over breadth” (AICPA and NASBA, 2018).

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