Which view of economists (theory of value) is most consistent with sola scriptura (labor, utility, neither)?

[Jacque_Pierre22]

Like the title says above, if you were to look at the book of Genesis, or the Old Testament as a whole, which view is correct? Some links I found (not saying I know the right answer)

https://www.ligonier.org/learn/devotionals/theory-value

Value (economics) - Wikipedia

en.wikipedia.org

 

[stevevw]

Like the title says above, if you were to look at the book of Genesis, or the Old Testament as a whole, which view is correct? Some links I found (not saying I know the right answer)

https://www.ligonier.org/learn/devotionals/theory-value

Value (economics) - Wikipedia

en.wikipedia.org

I'm not sure. All I know is the current economic system is not working. It creates a class society and more and more people struggle to even get the basics in life such as health, education and shelter. It leaves some people in the world dying of starvation and sickness.

Maybe a mix of socialist and conservative economics where we all have the basics to a level that allows human flourishing. Maybe non market based system and more a co-operative one. During the last GFC some countries almost went bankrupt. and in fact Greece did. They reverted back to cooperatives and bartering as we did in the past.

The world seems to have this insatiable appetite for money and things to the point we will hock our future to maintain that level of spending and comfort by artificially inflation the market value. In reality there is no value as its come at a high price for people and the planet.

I think if we don't change things soon we will end up with another market crash but next time I think it will be big enough that it will be irreparable. We seem to go in boom and bust cycles and each bust is bigger. In some ways that may force us to rethink and go back to basics and question what is the real value of life. But then you cannot underestimate the power of the $.

 

[Brian Mcnamee]

HI the book of proverbs seems to support a few principals of real capitalism and not large corporate cartels who are in league with the banks who have usurped sound money for fiat which creates debt slave as the foundation of society. If we have say 10 people on an island and 9 take productive jobs and one guy becomes a banks and loans everyone $1000 out of nothing to get started so they can buy and sell with each other. The problem is the bank charges interest on the loan so $9000 went out and with say %10 interest if the loans were 5 years there is not enough money to pay back the loans and more credit would be needed to keep it going. The sound money principal and the real work to produce something is the heart of where we should be. Seems tax that a government should run on 10-20% is also part of the narrative.

 

[Jacque_Pierre22]

Both answers are great. I agree, I can see almost all theories of value in our current system; a hierarchical structure of the corporation, with certain shareholders wielding way more power (power theory), but also utility in that rare Earth minerals and things like Uranian and oil prices can be price gouged; but also labor because if you know someone baked their own apple pie, it justifies a price double that of store bought. So somehow all of them in my opinion.