Ethical Free Market

Economic Truths are Part of God’s Dominion

Economic Truths are Part of God's Dominionby Chris Banescu –
Economic truths, like moral truths and other truths discovered through mathematics, biology, physics, and astronomy, are part of God’s dominion. As Orthodox Christians we believe that our Lord is the GOD of all creation, all matter, and all life. Not only did He invent and bring into existence the entire visible and invisible Universe, but He also created the laws that govern matter, energy, and human relations. Economic laws and truths are part of His creation as well and, like everything else in this world, subject to His authority.

Unfortunately, this truth is unknown by many Christians, even though they depend on economic principles to insure their own survival and prosperity, and support their communities and churches. Christians rely on economic laws to feed, clothe, shelter, and protect their families. Through their hard work, efforts, risks, innovations, investments, and sacrifices Christians ultimately support the new value and wealth that churches and governments can then use to feed, clothe, shelter, and help the poor. [Read more…]

Orthodox Christianity And Capitalism: Are They Compatible?


AFR – The Illumined Heart | Kevin Allen | Apr 17, 2009

In this interview with Kevin Allen, host of The Illumined Heart podcast on Ancient Faith Radio, Chris Banescu discusses the economic, moral and spiritual issues surrounding the “capitalist” economic model and whether it serves the best interests of Christians living the life of the Beatitudes.

Orthodox Christianity And Capitalism: Are They Compatible? – 4/17/09 [audio:http://audio.ancientfaith.com/illuminedheart/ih_2009-04-17_pc.mp3|titles=Orthodox Christianity And Capitalism Are They Compatible?|artists=Chris Banescu]

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A Primer on Capitalism

Capitalism freedomby Chris Banescu

In today’s turbulent financial times and difficult economic conditions, a lot of unjustified criticism and unwarranted accusations have been laid at the doorstep of capitalism. Many in the mainstream press and academia, a majority of politicians, and a large number of Americans have jumped on the bandwagon and unfairly blame capitalistic principles for the huge mess that we are in. Such widespread confusion evidences a misunderstanding by many Americans of how value is actually created in society and what capitalism really represents.

All societies, in order to prosper, grow, and take care of its citizens must create new value to sustain its economy and support an expanding population. Common sense and experience dictate that there are only three (3) possible ways for anyone in life to have, create, or obtain value (monetary or economic) or acquire any assets (property) to be able to live or sustain oneself or one’s family:

(1) You ethically earn it by working and providing value to your employer, investing in other people’s ventures, risking it in a new business to provide new value to others via a service or product, or by inventing, creating, or discovering something new and original, that is useful (device, process, cure) or pleasing (literature, music, art) to others. This is known as ethical capitalism, which I’ll simply call “capitalism” going forward. [Read more…]