Capitalism, is an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state. it’s a system that is compatible with individual freedom of expression in matters of religion, politics, philosophy. It is opposite to socialism.
The Bible teaches that the Lord commanded that humans are to subdue the earth and have dominion over it (Genesis 1:28). Capitalism provides for the protection of one’s possessions as long as they are gained without force, theft, or scam. This system is based on free-market prices to allocate goods and services which goes along Bible principles of investment (Matthew 25:14-30; Luke 19:12-28; Proverbs 21:5; Genesis 41:34-36; Ecclesiastes 11:2…etc.)
Capitalism rewards and reinforces service to others where a person’s income is directly related to his ability to provide goods and services that enhance the welfare of others. It helps other businesses to compete to serve customers better. Capitalism provides an opportunity for the hard-working people (2 Thessalonians 3:10) of all socioeconomic backgrounds to climb the economic ladder and succeed. And it doesn’t reward Laziness (Proverbs 26:15).
Some perceive capitalism as too materialistic. It is true that some get caught up in the pursuit of riches which the Bible strongly warns against (Matthew 6:24; 1 Timothy 6:10; Proverbs16:8; Proverbs 11:28). And the Bible instructs that the rich should not be greedy but rather help the poor (Matthew 19:21; Proverbs 14:31; Proverbs 28:27; Psalm 112:5). But capitalism does not force individuals to become obsessed with wealth. People are a product of their own choices.
Unlike other economic systems that led to tyranny and poverty, capitalism is an economic system that supports the freedom of choice, provides business opportunities for all people to flourish, raises the standard of living, and rewards hard work and creativity.
In His service,
BibleAsk Team
