As noted previously, I am lecturing at the Institute for Principles Studies' Civics Summit that starts today. My first lecture is on "The Biblical Principles of Economics." This is not a lecture of "dos and don'ts" but rather an explanation of the relationship between Biblical doctrine and economic law.
I explain how the Scriptural doctrine of general revelation and the cultural mandate provides an ultimate purpose for economics. I also outline how the fact that God created the universe with natural regularities and created man as a rational actor implies that there are natural economic laws we are able to discover. In fact, Christian Anthropology is crucial for a proper understanding of economics. Because man is being gifted with volition and purposeful behavior, we must beware following the siren songs of historicism, positivism, and mathematical modeling, if we want to pursue economic truth. Finally, we do want to recognize that sound policy analysis requires taking account of the Christian ethic of private property.
If you are unable to attend this year's Civics Summit, but would like to explore these ideas in more detail, I humbly recommend my book Foundations of Economics.