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Are capitalist economies dominated by greed, exploitation, and inequality? Is socialism the path to a better life and greater equality? Does the Bible tell us that socialism is the right way for people to live?
The hot controversy over Bernie Sanders and AOC is testimony to the passion people have over the question of socialism or capitalism. In Capitalism Versus Socialism: What Does the Bible Have to Say?, Dr. Simpson demonstrates clearly that the Bible has something to say about the foundations of capitalist and socialist economic systems, even though it does not specifically prescribe either one. He spells out the vital coordinating role of the “Invisible Hand” in a decentralized market - capitalist - system and how this role gets short-circuited in other systems, notably socialist, communist, and fascist systems.
In addition, he shows that, even though the Nordic countries have been singled out as socialist successes, these countries actually are welfare states based on market principles. The United States, too, is a welfare state, but on a less extensive scale. Dr. Simpson points out how the Bible addresses inequality and is clear about how we are to care for the less fortunate. He shows, not surprisingly, that the tools of economics and a vast body of experience conform to what the Bible has to say. The author brings the perspective of a professional economist with a wealth of experience working through difficult public policy challenges and the perspective of a longtime student of the Bible.
Get this book, and you can gain a clear and sound understanding of the differences between capitalism and socialism and how they square with the Bible.