To explain why we are facing this flood and these crises we have to think through covenant, love and gift. We will examine them not because these are religious ideas, but because they are fundamental economic ideas. When we attempt to understand economics without them, we achieve incoherence. Economics has indeed tried to understand human interaction and exchange without the concepts of covenant, love and gift, and the result has been the bankruptcy of economics and a crisis that is both social and economic.
1. Covenant – Israel and the Church To talk about the human future requires that we talk about covenant. The covenant of God with man comes in the form of one specific covenant, Abraham and his seed forever. Israel is the covenanted community, while the Church participates in this covenant in Christ. These two communities we may acknowledge the covenant of God with man. Each is, I dare to say, for the sake of those outside Israel and outside the Church, so each has to confess that they are elect… Read more COVENANT AND THE HUMAN FUTURE (Douglas H. Knight) →