Document Type

Article

Publication Date

2023

Keywords

Economic System, Capitalism, Socialism, Christian Economic Life

Abstract

This study joins the debate about whether capitalism or socialism best shows how the Bible sees economic interactions between people and, by extension, provides insights into how a Christian should live. Capitalism is based on the private ownership and control of resources and profit, which spread with the migration process of the Protestants. Socialism is based on the idea that the group or community should own the means of production and distribution to benefit everyone equally. This paper argues that biblical principles point neither to socialism nor capitalism as the appropriate economic framework for economic interactions and the organization of economic life in society. This assertion is based on how Jesus lived His life and various statements He made while here on earth, as presented in the Bible. The study demonstrates that Jesus is variously portrayed as a revolutionary socialist and a compassionate capitalist, and that Christians are called to responsibly manage the resources entrusted to them by God, for there is accountability for every economic choice and preference.

Journal Title

Pan-African Journal of Education and Social Sciences

Volume

4

Issue

2

First Page

75

Last Page

81

First Department

School of Business Administration

Acknowledgements

Open access article retrieved May 23, 2024 from https://journals.aua.ke/pajes/article/view/341/86

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