Grace Economics (1) (1)

“On these two commandments hang all the Law and the Prophets.”  Matthew 22.40

Valid still
A good deal of misunderstanding exists at present concerning the purpose and status of the Law of God for those who have believed in Jesus. Unless we can overcome this misunderstanding we will struggle to know the grace of God for life in the Kingdom economy.

By the Law of God I mean the Ten Commandments and the attendant civil statutes and rules, given by God through Moses, that were to guide Israel in establishing a nation based on love for God and neighbor. I do not intend to include in this discussion of the Law of God the various ceremonial or religious laws – those laws connected with the work of priests – since, as the writer of Hebrews explains (chapter 7-10), those laws have all been set aside by the anointing of a new and eternal High Priest, our Lord Jesus Christ.

While the laws governing things like sacrifices and offerings, clean and unclean foods, and protocols for various kinds of bodily cleansings and restorations no longer apply, the New Testament is clear that the Ten Commandments remain in effect as holy and righteous and good statutes to guide our walk with the Lord (Matt. 5.17-19; Rom. 7.12; 1 Jn. 2.1-6).

In addition, New Testament writers, following the precedent of Old Testament prophets, discerned in the various civil statutes and rules of ancient Israel, abiding principles of love and justice that remain valid for these latter days (Lk. 19.1-10; 1 Cor. 9.8-11; Jms. 5.1-4; cf. Ruth 4; Hag. 2.10-18). These civil statutes suggest ways of applying the Ten Commandments to a wide range of situations so that we may understand the course love should take in human society. These statutes were not meant to be exhaustive but merely suggestive; wise readers and interpreters, under the guidance of the Holy Spirit, are expected to ferret out the meanings of the Law and discern its proper applications on a situation-by-situation basis, to ensure that love for God and neighbor are maintained.

The Law on economics
Interestingly, certain of the Ten Commandments and many of the civil statutes of ancient Israel bear on what we today would regard as matters of commerce and economic practice. We have seen that in the Kingdom economy of God, grace is the currency of life, including commerce – the primary means of our getting by and making our way in the world.

At the same time, the Law of God, and subsequent Scripture based on the Law, has much to say about specific matters of commerce and economics. Wages, prices, debt, the value of land, contracts – these are just a few of the economic matters touched on in the Law of God. Certain of the statutes addressing these matters became the basis for much of the preaching of the prophets, who held rulers and religious leaders alike, accountable before God for their violations of His standards for economic justice and neighbor-love. When grace ceased to be the currency of Israel’s economic activity, the prophets were quick to call for redress and restoration.

Our nation has been characterized from its beginnings by an economy of getting-and-spending. The free market economics of Adam Smith have nowhere found a more welcome reception than among the American people. During the early years of the Republic, while Biblical and Christian values still largely defined the ethical and moral environment in which economic transactions were conducted, the “dark side” of capitalism – its tendency to deceive, exploit, and cut corners in the worship of the almighty dollar – was largely kept in check. Chattel slavery and the exploitation of Native Americans are, of course, glaring exceptions and evidence of the power of greed to replace grace as the currency of commerce, and corruption to befoul all aspects of economic life.

A question of values
In our day, when relativistic and pragmatic values increasingly set the tone for ethical conduct and economic activity, the dark side of capitalism is more and more overshadowing the land. Corporate corruption, the hiring of illegal aliens, white collar crime, unequal wages, and exorbitant salaries for some while many cannot find work – all these and more are symptoms of a system that has become sick with self-love and materialism.

If it were possible to discover principles of economic activity that could infuse more love into our society, principles and practices that discourage mere self-interest, preserve the value of property and currency, honor the dignity of all members of society, and promote justice, fairness, honesty, and, yes, love – if such principles could be discovered, even if they be found in the Old Testament Law of God, wouldn’t they be worth considering?

As we shall see, the Law of God contains many principles to guide us in specific areas of economic activity, so that we may walk as Jesus did (1 Jn. 2.1-6), and may show the world the way out of mere greed economics into the grace economics of God’s Law.

For reflection
1.  What is your view of the Law of God? How important is it that Christians know and practice the Law in their walk with and work for the Lord?

2.  As you see it, what would be some primary differences between greed economics and grace economics?

3.  Should Christians try to influence the economic activity of their nation? Why or why not?

Next steps – Preparation: All this week, pray through the Ten Commandments each day, pausing to reflect on each one as it might have application to the day before you.

T. M. Moore

This week’s ReVision study is Part 6 of a 10-part series, “The Kingdom Economy.” You can download “Grace Economics (1)” as a free PDF, prepared for personal or group study. Simply click here. For a background study of Kingdom economics, order the book, The Kingdom Turn,  from our online store, and learn what it means to enter the Kingdom, not just talk about it.

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Except as indicated, Scripture taken from the New King James Version. © Copyright 1982 by Thomas Nelson, Inc. Used by permission. All rights reserved.