Economics 101

Economics: A Gift, a Calling, a Matter of Life and Death

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Last week I interviewed Anne Bradley about her new video, “Why Economics Matters“, and the importance of economic freedom for creating a world where, as Anne puts it:

We want more stories of strangers coming together because they had the right incentives to serve such that my daughter gets a feeding tube that fits into a three pound baby’s nose. That’s totally amazing. We want more of that, as often as possible, available to every income group. The only way to get it is more economic freedom.

After the interview, Anne and I thought, “Hey, why don’t we ask other Christian economists why they think economics matters?” So we queried a handful of Christian economics professors around the country and received a few responses. Here’s what we heard.

Why Does Economics Matter?

It’s a matter of life and death for many people. 

Economics is a fascinating subject that helps us understand our world. It’s more than that, though: the principles of economics can illuminate paths to prosperity and paths to poverty. Economics deals day in and day out with literal matters of life and death for many people, and careful economic analysis shows us how we are able to flourish in a world that values liberty and innovation.

 – Art Carden, associate professor of economics at Samford University’s Brock School of Business

It’s a gift. 

Gospel-centered economics humbly and hopefully explores how people work together to reveal beauty and bring forth abundance in God’s creation. It’s a gift for anyone seeking to serve his or her community in a tangible, sustainable way.

Brian Brenberg, chair of the Program in Business and Finance and associate professor of business and economics at The King’s College

It’s a calling. 

Why does economics matter? We mostly focus on what we have done, what we have accomplished. However, the world is littered with actions not done. Without considering the highest valued thing we did not do, we are not being the best stewards we can be with our God-given resources. One of the top economic principles is opportunity cost and God calls us to think this way, therefore economics matters.

Russ McCullough, Wayne Angell Distinguished Chair of Economics and associate professor of economics at Ottawa University

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