The Truth About…Economics (Part 4)

If we examine other economic systems, we’ll see that the free market is the best for human life. That makes sense because God made us to work and get married, according to Genesis 1. And therein lies the keys to addressing poverty—marriage and work. If we want to help avoid poverty, follow God’s design of getting married and going to work.

The US Census Bureau in 2008 showed that the poverty rate skyrockets when parents are unmarried, regardless of their skin color. The poverty rate for married whites is 3%, but it rises to 22% for single parent whites. The same growth in poverty rates apply to Hispanics. For married Hispanics, the rate is 7%, but for single parent Hispanics, it is 35%. Finally, for married blacks, the poverty rate is 12%, but for single parent blacks it is 38%.

The other main way to address poverty is work. A longitudinal study from 1992-2007 by the University of Michigan showed that people can raise themselves out of poverty. Their study revealed that only 5% in the bottom fifth level of income stayed there 15 years later. However, the rest moved to the top 3/5 of income, meaning the middle class and higher. Even more astounding is that 30% moved to the top fifth!

The main point of this information from the Census Bureau and the University of Michigan is that God’s plan for us economically is best. God speaks about money and economics all over the Bible. We can thrive if we follow God’s design, being stewards or managers of the world and things God has given us—time, talents, and treasure.

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April 28, 2015

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