The History of Economics
Today's Daily Soap {Scripture | Observation | Application | Prayer}
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- S: A great protest was mounted by the people, including the wives, against their fellow Jews. Some said, "We have big families, and we need food just to survive." Others said, "We're having to mortgage our fields and vineyards and homes to get enough grain to keep from starving." And others said, "We're having to borrow money to pay the royal tax on our fields and vineyards. Look: We're the same flesh and blood as our brothers here; our children are just as good as theirs. Yet here we are having to sell our children off as slaves—some of our daughters have already been sold—and we can't do anything about it because our fields and vineyards are owned by somebody else." I got really angry when I heard their protest and complaints. After thinking it over, I called the nobles and officials on the carpet. I said, "Each one of you is gouging his brother." Then I called a big meeting to deal with them. I told them, "We did everything we could to buy back our Jewish brothers who had to sell themselves as slaves to foreigners. And now you're selling these same brothers back into debt slavery! Does that mean that we have to buy them back again?" They said nothing. What could they say? "What you're doing is wrong. Is there no fear of God left in you? Don't you care what the nations around here, our enemies, think of you? "I and my brothers and the people working for me have also loaned them money. But this gouging them with interest has to stop. Give them back their foreclosed fields, vineyards, olive groves, and homes right now. And forgive your claims on their money, grain, new wine, and olive oil." They said, "We'll give it all back. We won't make any more demands on them. We'll do everything you say." Then I called the priests together and made them promise to keep their word. Then I emptied my pockets, turning them inside out, and said, "So may God empty the pockets and house of everyone who doesn't keep this promise—turned inside out and emptied." Everyone gave a wholehearted "Yes, we'll do it!" and praised God. And the people did what they promised. Nehemiah 5:1-13 [MSG]
- O: The history of economics repeats itself.
- A: This isn't the first time in history that a people has put themselves so far into debt that they were literally slaves to their debt, facing foreclosure and the loss of all their possessions. Nehemiah faced the same thing, and took matters into his own hands, calling the nobles and officials together and putting them to task about their unfair lending practices. What we are going through in America right now has been described as an economic meltdown. It has been said that we could find ourselves in the worst depression in our nation's history. We could lose our homes, our jobs, our businesses. Nehemiah, in his time, called on the nobles and officials to enact a rescue plan that would forgive the people of their debts, to return foreclosed property, and to make no more demands of the people. Our own elected officials have rolled out their own rescue plan that is designed to accomplish the same goal in a different way. By calling upon taxpayer money to bail out those who have faced (or now face) foreclosure, the government is trying to save our nation from this "economic meltdown." It may work, it may not. One thing is certain -- doing nothing will result in nothing. This problem will not fix itself. People have got to tighten their belts and sacrifice for the greater good. People from all walks of life, at all levels of the financial spectrum, and from all branches of government. Taking action will achieve success or failure, but sitting on our hands and doing nothing will achieve nothing, and result in certain failure.
- P: Father, as our elected officials begin to make plans and take action upon the $700 billion bailout plan recently signed into law, please guide them to act wisely and prudently. And we, Lord, who our footing the bill with our tax dollars, please motivate us to make the necessary sacrifices for the greater good.
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