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Mike Winther talks about the biblical principles of education. This lecture on high school economics was given in June of 2012. He covers the importance of teaching solid economic concepts beginning even earlier than high school.
It’s Mike’s goal to bring awareness of how much the bible has to say about economics, government, and education. He talks about the ethical and moral issues of economics, how monetary issues are moral issues, and biblical education in financial issues.
You’ll Learn:
- [02:07] Economics is an ethical and moral issue.
- [02:59] Should we make decisions based on practicality or morality? Economic issues are ethical and moral issues.
- [03:50] Economics or the dismal sciences. Christians should love economics, because the key concepts come from the Bible.
- [04:50] Economics is the study of the rules of how we deal with resources, assets, and distribution of assets.
- [05:16] Proverbs 11:1. The Lord abhors dishonest scales.
- [06:30] We are obligated to help the poor and the most important way we can do that is with a good economic system.
- [08:35] Microeconomics and macroeconomics. Microeconomics is the study of the economics of a household or a single business. Macroeconomics is the study of the entire economy.
- [14:33] It’s proper for the government to punish involuntary transactions. The free market says if it’s involuntary, the government shouldn’t be involved. Socialism prefers the government to regulate transactions.
- [15:06] Socialism is when the government either owns or controls capital and/or redistribution of resources.
- [22:34] The Ten Commandments assume private property. Socialism is an affront to private property.
- [28:23] Thanksgiving is a celebration of being obedient to God in economics.
- [29:27] The biblical economic system is the free-market system.
- [30:01] How to present the free market view to children. A voluntary trade like purchasing a soda where both parties benefit.
- [35:38] Price tells the market whether to make more or less of something.
- [39:11] The law of supply and demand. Speculators drive prices up.
- [41:13] Parents shouldn’t outsource education too much. We need to know the subjects too.
- [42:48] The Federal Reserve is The Creature from Jekyll Island.
- [43:39] There are biblical principles of how we should tax or be taxed.
- [45:12] There’s value in understanding your opponent’s position by educating yourself and reading things like The Communist Manifesto.