Easy Chair No. 160, December 9, 1987 - Money and Debt
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Easy Chair No. 160, December 9, 1987 - Money and Debt
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R.J. Rushdoony and Otto Scott discuss money and debt, emphasizing that the Bible views money as hard money (gold and silver) and limits long-term debt. They contrast historical practices of short-term debt and thrift with modern inflationary policies, paper money, and mounting personal and national debt. This shift, they argue, erodes financial independence, encourages reckless spending, and threatens economic stability globally.
They highlight historical lessons from Germany, Babylon, and Assyria, showing how debt can weaken nations and individuals alike. Modern governments and banks, through inflation, easy credit, and foreign lending, replicate these dangers on a massive scale, tying citizens and nations into dependency.
Rushdoony and Scott stress the moral solution: Christians living debt-free and valuing real money can influence society positively. Crises, while challenging, also reveal human resilience and the opportunity for renewal, including reorganizing society on biblical principles. They emphasize that spiritual, financial, and communal responsibility are intertwined in securing stability and enduring prosperity.