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The Majority of Young Adults Reject Capitalism

posted May 3, 2016, 10:02 AM by First Baptist

According to a recent survey sponsored by Harvard University, the majority of Millennials in America (young adults under age 30) do not approve of capitalism as an economic system.


This represents a huge shift in popular opinion and will likely have significant ramifications as Millennials enter into positions of leadership.


As the researchers attempted to drill deeper into what Millennials believe, they found a growing conviction that capitalism is “unfair.” Furthermore, Millennials believe that every American has a right to the basic necessities of life (food, clothing, shelter, health care) and it’s the government’s job to ensure that everyone has what they need and that goods & services are fairly distributed.


Should this view persist, we can envision the economic system to which this would lead – big government socialism.


What Does the Bible Say about Capitalism?


The dictionary defines capitalism as “an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market.”


While the Bible doesn’t mention capitalism by name, it does speak a great deal about economic issues.


Among other things, the Bible affirms limited government, the private ownership of property, personal responsibility, good stewardship of one’s property & resources, individual acts of charity on behalf of the poor, and personal freedom. All of these are features of capitalism. They are NOT features of some of the other economic systems in vogue today.


Historically, capitalism has provided the greatest amount of freedom and the most effective economic gains of any economic system ever devised!


However, this doesn’t mean that, as Christians, we endorse every aspect of capitalism. Men are sinners – and prone to sin economically, as in every other area of life. The appropriate role of government is to restrain & punish evil in all its forms.


We are blessed to live in America, but these blessings can’t be taken for granted.


Pastor Dan