Western economies tend to be based on gold held in reserve. However, the general trend is toward wealth through borrowing and by fiat – if your nation needs money simply print more! Most Middle Eastern economies tend to be built on oil (which Western economies cannot do without.) There was perhaps some oil around before the Deluge produced coal and oil in great abundance and buried underground the precious stones. E.g., Noah was to cover the ark ‘inside and out with pitch’ Genesis 6:14. It is possible that this ‘pitch’ was manufactured from tree resin. However, we do know that there were tar pits not long after the flood into which some of the enemies of the wealthy Abraham fell, ‘Now the valley of Siddim was full of asphalt pits; and the kings of Sodom and Gomorrah fled; some fell there…’ Genesis 14:10a. Many Western nations are rich in oil resources. However, rather than make it easier for companies to drill for more oil, they choose instead to buy from the Middle Eastern nations at inflated prices. This causes a great drain and strain on Western economies –especially during cold months. However, Norway is a good exception. Its economy, based on its own oil, is flourishing!
The Bible has had a major influence on Western economies through men such as John Calvin (1509-64), whose Biblical teachings on economics greatly influenced Adam Smith. Adam Smith (1723-90) is often regarded as the founder of modern economics. He established ‘theories of labour, distribution, wages, prices, and money, and advocat[ed] free trade and minimal state interference in economic matters’ (Oxford English Reference Dictionary). In the 1930s John Maynard Keynes (1883-1946) helped move Western nations away from the Calvinistic approach of keeping a balanced budget to the more Socialistic idea of borrowing capital simply to sustain employment.
The wealth of the nations’ belongs to Christ! His City is adorned with all kinds of precious stones: jasper, sapphire, chalcedony, emerald, sardonyx, sardius, chrysolite, beryl, topaz, chrysoprase, jacinth, and amethyst. The twelve gates were twelve pearls: each individual gate was of one pearl. And the street of the city was pure gold, like transparent glass ... And the nations of those who are saved shall walk in its light, and the kings of the earth bring their glory and honour into it … And they shall bring the glory and the honour of the nations into it’ Revelation 21:18-21; 26-27. Entrance is gained by repenting and believing in the Gospel!
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