I was bored yesterday so I went to Lew Rockwell and perused some old Gary North articles (but only for the rhetorical verve). I found this interesting gem that dovetailed nicely with John’s comments on Scottish Economic development.
North sees those countries who took the Old Testament seriously, especially its regard to Covenant and Community, and noted, other things being equal, that they became economic powerhouses. We can hazard a few guesses as to why:
- Since God’s law came from God, to whatever degree it still applies today, its moral principles when applied to daily live have positive benefits (common sense realism even, since God’s world is reliable).
- The covenant is future-oriented. Interestingly, sound economic principles are also future-oriented.
- Dominion economics: North notes how the Dutch, a tiny country with few defenses and surrounded by powers, became a strong power: they simply worked hard and believed God would triumph in their labors. The same with the Scots.
It’s further interesting that all these groups (maybe excepting the Armenians. I did study up on Armenian Orthodoxy a few years ago, but the materials were too scanty to make it a worthwhile endeavor) engaged in frugality, innovation, and profit-and-loss.