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Economic Epistemology
publication date: Nov 19, 2010
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author/source: Brad Hamill
Epistemology is defined by Merriam-Webster
as follows:
“…the study or a theory of the nature and grounds of knowledge especially with reference to its limits and validity.” This brings up an interesting question. How do people “know what they know” with regards to economics? What is their economic epistemology? Most folks will readily share their economic insight, but most of it is a regurgitation of what is printed or shown in the media – by both conservatives and liberals. Let me give an example. General Motors just held their Initial Public Offering (IPO) today and issued stock shares at a beginning price of $33 per share. All day long we were treated to headlines telling us how victorious the offering was. Here are but a few of those headlines: Stocks Soar as Ireland Worries Ease; GM Jumps GM Shares Soar, but Is It Too Late for Investors to Buy? One would think by these headlines that the GM IPO was a smashing success! It would even be tempting to repeat the headlines to others at work or at a social gathering – causing those people to tell others. General Motors stock actually finished the trading day at $34.19 per share. Here is a graph showing the day’s activity:  Balance the above picture with the headlines that I presented. Do the two correlate? No, it’s not even close. Our nation has a major problem. We have a very, very weak economic epistemology. We are willing to be the mouthpieces to further propagandize our families, neighbors, co-workers, and citizenry. Those who are more “conservative” might promulgate the thoughts and ideas of Rush Limbaugh, or Glenn Beck. Those of a more “liberal” bent might let others know the thoughts of Rachel Maddow, or Katie Couric. Those that are WAY out in the stratosphere might even entertain the thoughts and ideas of Brad Hamill. The point of all of this is that we really need to be asking ourselves what God’s Word has to say about the subject of economics. We need to be forming a baseline that is true and immovable that we filter everything else through – including this very article. God’s Word does not teach us that all things of an economic nature are lost unless we use gold and silver for our money. Instead, it teaches us that good, honest, hard work is a noble thing. We learn that those who refuse to work will not eat. We learn that it is better to not be an economic slave to a master. These tenets can form a bedrock platform upon which to build our economic epistemology. We can filter everything we hear and see through this fine mesh that is woven with the Word of God. We can make our economic decisions in the fear of the Lord, rather than the fear of a tyrannical slave master. We must realize that our current economic standard of living is one of slavery – even if we feel like we have a “comfortable” lifestyle. We have all been born into an environment where we have known no other way. Even those who are “out of debt” are still slaves in the overall system. Here’s a picture of members of Congress after the Healthcare Reform bill was passed:  Most readers will look at this picture and have the immediate reaction of “Oh…there’re those dirty, rotten Democrats! The Republicans will fix things now that they’re in power!” Folks, the facts are that the Republican Party is no better. The Republican Party’s economic epistemology is as rancid and putrid as the Democrats. It’s because the Republicans don’t fear the God who created them any more than the Democrats. In fact, the Republicans are the party most likely to support the international bankers through legislation. I write this as a registered Republican of many, many years. Look at the faces of our Congress members in the above photo. Look at the jubilation. Congress has absolutely no concept of the fact that money is simply a claim on the future labor of a population. These folks in the picture, and all others like them, are jubilant over being able to live in sinful greed and selfishness today, while casting the eventual payment for it off to our children, grand-children, etc, etc, etc… Is it any wonder that the youth of our nation have very little regard for the older generations? We effectively are telling them: “Johnny, you need to get a really good education so that you can get a high-paying job – and Lucy, you need to get out there and work also so that those evil men don’t keep you in the kitchen!” What we’re REALLY secretly conveying is: “We need both of you to make lots of money so that you can pay the bill for the lifestyle we enjoyed before you were even born!” Our generation, and those before us, has insisted on certain “comfort” levels – as a perceived right. In the meantime, we have systematically killed over 40 million babies that were the peers of those we are demanding pay the bill for our lifestyle. Is it any wonder that our words ring hollow to today’s youth? Is it any wonder that these youth are rebelling in record numbers – even within our churches? Is it any wonder that the generations we are asking to support us will actually be more willing to prematurely kill us to reduce their financial burdens? I make an appeal to fathers and young men. Many of us have taken the approach of escapism with regards to the pressures we currently face today. We work in a culture where we seek respect, but instead have women ruling over us and are told to conform to diversity if we know what is good for us. We are taught the mantra of “Unity Through Diversity”. This phrase is straight from the pit of hell. Instead, we must live by “Diversity Through Unity” – exercising the various gifts God has bestowed upon us, while serving the one true God. Some wives have been raised in a culture where they have been taught the “enormous” importance of being able to fend for themselves in all ways. This can many times present itself as a wall to giving the kind of respect a husband so desperately needs from his wife. In turn, the husband can find it difficult to provide the level of love that a wife so dearly needs from her husband. Guys have a natural God-given defense mechanism when they are shown disrespect. They either fight or flee. In most family environments this results in fleeing – running to the television, to sports, to computers, or to computer games – where men can enter a pretend world where they can fulfill their desire to forcefully vanquish their enemy. Men (and I’m writing to myself as well), there is a much better place to flee. We must flee to Christ and give Him our burdens. There is a much better place to fight. We must equip ourselves with the armor of God and take on the battles that besiege our families. We must not make the mistake of seeking to use our own might in the battle that rages before us and our nation. Rather we must be empty, cracked vessels that are willing to be filled with God’s purpose. We must fear only God! Men, many of the foundations of the future generations have been destroyed. There are some of you that are seeking God’s wisdom in turning this around. My question to all of us is this: “How is our economic epistemology? Are we truly seeking to turn from our debt-based monetary system that destroys the economic future of our children? Or are we continuing to operate in the current system (including purchases of gold and silver) just because it is what we know?” Your comments and questions are welcome… or visit www.newfamilyeconomics.com If you are not currently on the Economic Update email list you can email me at: brad@newfamilyeconomics.com to be added. There is no charge and your email address will never be shared.  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