Posts tagged with: exchange

money-abstractWhen it comes to economic stewardship, Christians are called to a frame of mind distinct from the world around us.

Though we, like anyone, will sow and bear fruit, ours is an approach driven less by ownership than by partnership, a collaboration with a source of provision before and beyond ourselves. This alters how we create, manage, and invest as individuals. But it mustn’t end there, transforming our churches, businesses, and institutions, from the bottom up and down again.

In some helpful reflections from the inner workings of his own organization, Chris Horst, vice president of development for HOPE International (a Christian microfinance non-profit), opens up about the types of questions they wrestle with as a non-profit. Through it, he demonstrates the type of attentiveness we were meant to wield across all spheres of society.
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Blog author: jsunde
Wednesday, December 9, 2015
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0611When we think about “stewardship,” our minds tend to revert to the material and the predictable. We think about money or the allocation of resources. We think about growing crops or creating goods or financial investment and generosity.

For the Christian, however, stewardship goes much further, weaving closely together the tangible and transcendent in all areas of life. “Stewardship is far more than the handling of our money,” write Lester DeKoster and Gerard Berghoef. “Stewardship is the handling of life, and time, and destiny.”

In For the Life of the World, God’s oikonomia is compared to a song, with our activity in each sphere of creation harmonizing together even as it plays in its own distinct way and through its own “modes of operation” — whether in family, business, education, or elsewhere. God has given us stewardship as a gift, granting the responsibility to manage his house and the availability to partner with the divine in that remarkable task.

C.S. Lewis points to this reality in The Magician’s Nephew, where he writes at length about the origins of Narnia and the creative call of humankind. (more…)

In Cuba, taxi drivers earn far more than doctors, raking in more money in one day than a doctor will make in an entire month.

The reason? Unlike most of the Cuban economy, taxi licenses are privately held and wages are not set by the state.

Johnny Harris explains:

Although Cuba offers few opportunities for private enterprise — outside of its sprawling black market, that is — the number of self-employed workers has slowly grown in recent years. Seven years after Raul Castro took over, 20% of the economy is now private.  (more…)

farmhouseThe global economy is ever-growing in its complexity and interconnectedness, leading to a range of positive and transformative effects. Yet even as this web of human relationships expands and intensifies, many of the latest innovations are prodding us back to the simple and personal.

Whether we look to the various offspring of the “sharing economy” (e.g. Uber, Airbnb) or the range of bottom-up trading tools and crowdfunding platforms (Craigslist, Kickstarter), we see an eager appetite for simple and direct exchange.

In some reflections on his neighborhood’s online community marketplace (“The Swap,” as it’s called), Chris Horst notices much of the same: (more…)

“Globalization must do more than connect elites and big businesses that have the legal means to expand their markets, create capital, and increase their wealth.” –Hernando de Soto

6898950_7a0fd3b3d9_bWhen assessing the causes of the recent boom in global prosperity, economists and analysts will point much of their praise to the power of free trade and globalization, and rightly so.

But while these are important drivers, we mustn’t forget that many people remain disconnected from networks of productivity and “circles of exchange.” Despite wonderful expansions in international free trade, much of this has occurred between “outsiders,” with many partners still languishing due to a lack of internal free trade within their countries.

Much of this is due to an absence of basic property rights, as economist Hernando de Soto argues throughout his popular book, The Mystery of Capital. If the global poor don’t have the legal means or incentives to trade beyond families and small communities, so-called “globalization” will still leave plenty behind. (more…)

The highly popular “buy-one, give-one” models — as epitomized by the popular TOMS Shoes brand — have long held the attention of Western do-gooders. It’s quick, it’s easy, and hey, people like the shoes. And let’s not forget the power of the Warm & Fuzzies.

Yet many are beginning to raise concerns about the actual impact of these activities. As Acton’s Michael Matheson Miller recently explained in an interview with Knowledge@Wharton, “The one-for-one model can undermine local producers. When you give free things, why would you buy local shoes?”

In the debut of his new smarty-pants comedy show, “Adam Ruins Everything,” Adam Conover chooses to set his sights on precisely this:

To their credit, TOMS Shoes has taken certain steps to reconsider its model, including a decision to “employ 100 Haitians and build a ‘responsible, sustainable’ shoe industry in Haiti.” But alas, by all public appearances, there is still a ways to go. (more…)

francisgmo62815“Defending capitalism on practical grounds is easy,” writes economist Donald Boudreaux at the Mercatus Center. “It is history’s greatest force for raising the living standards of the masses.”

What’s more difficult, it seems, is understanding its moral logic, spiritual implications, and which of each is or isn’t inherent to private ownership and economic exchange.

At what level, for instance, is freely buying a gallon of milk at a freely agreed-to price from a freely employed worker at an independent grocery store an act of sin, idolatry, and exploitation? Such basic transactions are, after all, the bread and butter of a system built on free enterprise and open exchange (i.e. capitalism). From here, it gets more complicated, of course, and even that basic starting point can surely involve corrupt actors and action.

Yet even Pope Francis, discernor of the discerning, seems to struggle in locating Point A of that basic logic, even when railing against its banner. I tend to presume that basic milk purchases are not, in fact, his actual target. But then he continues and without qualification, railing against markets at large and ripping at plenty of positives that dangle well outside the deserving injustices of cronyist corporatism.

The Pope prefers to argue not that capitalism “has its faults” or “demands a virtuous society,” but rather that it is a “new tyranny,” one that followed the ills of communism, but filled the void with something just as tragic. (more…)