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Amorality of EconomicsAugust 20, 2008 - 5:31pm | email this page
"Although economics as a discipline is as riddled with conflict and division as is theology, economists are perhaps more agreed around some basic principles. One of those principles is that wages must be determined by what the market will allow and not by the intrusion of political authority. Thus, most economists argue against the state fixing a minimum wage, let alone a just wage, because the establishment of such a wage will produce unemployment and low productivity. A minimum wage is permissible only insofar as it is less than what the market would actually bear if left to itself. But here is where the social order that theology assumes conflicts with that assumed by the economists."
D. Stephen Long, The Goodness of God (Grand Rapids: Brazos Press, 2001), p.249 James O's blog | report this page | 59 reads
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