During the recent financial crisis, governments borrowed as if they were fighting a world war. They have struggled to reduce deficits ever since and so their debts are at record levels, leaving societies open to the temptations of repression, default, or inflation. This is the poisonous legacy of the ‘Prodigal’ baby boomer generation that squandered not only their inheritance but that of their children too. Biblical wisdom helps us to understand the state we are in and the possible means of escape. But societies ultimately need a change of heart to understand that debt is financial servitude and we all have obligations before God to future generations.
Summary: The self-destructive tendency of a debt-based financial system has been highlighted in earlier Cambridge Papers. This lesson is being retaught with a vengeance by the current financial crisis. To diagnose our current plight, this paper expounds the biblical teaching on debt, interest, and finance; explains what is really going on from a relational […]
Cambridge Papers author and IMF economist Dr Paul Mills shares his personal thoughts on how we should respond to the global economic crisis.
He is the king of the country whose coin is current in the country. – Talmud Europe will be created via a currency or not at all. – Jacques Rueff Summary On 1 January 1999, the ten currencies of the eleven countries entering Economic and Monetary Union (EMU) became denominations of the euro at […]
Summary This essay considers the current tendency to talk about justice in terms of rights. It analyses biblical material and suggests that in spite of the immoral tendency of rights-language, rights can perform a useful role in identifying aspects of human dignity. After briefly considering the UK Human Rights Act, it concludes with three […]
Summary Who should you trust with your savings? Is the highest return all that counts, or should this he sacrificed to moral principle? This chapter discusses the appropriate ways for Christians to save and invest by outlining general and specific biblical instruction on the subject. Although there are few forms of saving that can be […]