Christian Ethics Essay

1.What is the difference between self-interest and selfishness? Why is this distinction important when considering the competitive market economy as appropriate for a society? a.Self-interest is when someone is trying to protect their interest, but they also take into account how it may affect others. Whereas selfishness is where one makes decisions based on one’s self with no regards to others. It’s important to decipher these two meanings when considering the competitive market and what may be appropriate for a society because if one is acting out based on self-interest, yes, they may be looking out for themselves, but they are also looking out for their customers. These are the type of people you can trust and want to invest your time and money into. People acting out of selfishness, figure out a way to get what they want and bail once they can’t make a profit anymore, leaving their customer in the dust. Also meaning, they’re going to be unreliable if a nd when times get tough and have no morals or obligations to the people who invest into them. 2.Does your textbook present only positive economics and avoid any normative economics? If not, give some examples of normative issues covered in your textbook. a.After reading Stapleford’s Bulls, Bears and Golden Calves, it is safe to say that any textbook for that matter doesn’t posess â€Å"only† positive economics and does in deed hold normative economics. As economist Roger Miller commented: â€Å"†¦the very choice of which topics to include in an introductory textbook involves normative economics. There is not a value-free, or objective, way to decide which topics to use in a textbook† (Stapleford, pg 43.) I decided to examine this a little further and came to find that in our Economics: Private and Public Choice by Gwartney and authors, it states in the Preface â€Å"This text addresses all of them and provides both economic analysis and empirical evidence that will enhance understanding of these critical issues†¦This thought was constantly on our minds as we revised this edition† (Gwartney, pg xix.) When I read that, personally that left the impression that these authors picked and chose what they thought was in the best interest of their students and even though they are stating the facts, they are also took into consideration when revising how it could help the reader relate to the information. 3.What did Adam Smith believe serves to curb self-interest in an economy? a.The one key thing that Smith believed controlled self-interest in the economy is competition. In one way or another, everyone has a desire for approval and it is because of this postivie judgement we seek also puts limits on our personal objectives. It is through competition amongst each other that promotes a controlled economy because it is not being run off of someone else’s personal agenda. If something appears to be hurtful or negative in the economy, then most likely it won’t succeed and people will move on to it’s compeititor. Whereas if something is highly valued and is seen as positive, chances are the business will thrive and they will be a customer for life. 4.What does it mean to seek the kingdom of God in a democratic capitalist economy? How can it be done? a.Democratic capitalism is neither the Kingdom of God nor without sin. But when we Christians seek the Kingdom of God, we seek â€Å"righteousness, peace and joy in the Holy Spirit† (Romans 14:17.) So when we seek the Kingdom of God in a democratic capitalist economy, we’re seeking to be â€Å"set free† from the temptations this earth has to offer, and focusing on the eternal life that awaits in God’s Kingdom. In order to do this though, requires us to be â€Å"enlightened† where we refocus our internal and external lives to his kingdom. â€Å"Jesus doesn’t ask us to set aside our self-interest; he just wants to keep us from making a poor investment† (Stapleford, pg 46.) References Gwartney, Stroup, Sobel, Macpherson. (2013). Economics: Private and Public Choice 14e. Mason, OH: South-Western. Stapleford, J. (2009). Bulls, Bears and Golden Calves. Madison, WI: IntraVarsity Press.