Economic Lessons from the Parables
In The Eye of the Needle: Economic Lessons from the Parables, Father Robert Sirico, Roman Catholic priest and co-founder of the Acton Institute, draws out some lessons about economics from two parables: The Parable of the Hidden Treasure (Matthew 13:44) and The Parable of the Rich Fool (Luke 12:13-21).
Father Sirico is careful to note that here he is not analysing the full meaning of the parables, about God and His Kingdom, as he would in a parish sermon. He is rather trying to draw out some lessons about economics, the implications the parables have for business and economics today. He does not imply that the economic understanding of the parables is the higher purpose of the parables.
Speaking on The Parable of the Hidden Treasure (Matthew 13:44) Father Sirico says the parable demonstrates what it means to discover and create value in the market place, and the importance of the entrepreneurial function. It also shows that commerce can be mutually beneficial (even with asymmetric knowledge in exchange) given that value is subjective.
Regarding The Parable of the Rich Fool (Luke 12:13-21), Father Sirico says the problem of the rich fool was not that he planned for the future, but the narrowness of his plans. The rich fool saw one thing (his wealth) as everything, disregarding God and others. Sirico notes that the parable also demonstrates that the future is always uncertain. The rich man foolishly thought he could be certain of the future.
After introducing Jacques Garello (of the French Catholic Economists Association), the lecture begins at the 18 minute mark. Discussion of The Parable of the Hidden Treasure begins at 43 minutes. The Parable of the Rich Fool (at 57 minutes) is followed by questions at the 80 minute mark.
The 65 minute audio lecture (mp3 file, 10.3 megabytes), was part of the Acton Lecture Series presented in Grand Rapids, Michigan by the Acton Institute.
© Danny Haynes
David G, 2 June 2006, 13:27:
On the face of it, it sounds like a misuse of the parables to me.
Danny Haynes, 3 June 2006, 23:12:
David, he does point out quite strongly that he is not presenting the full heavenly meaning of the parables, but rather taking economic lessons from the parables (read at face value). You could say he is using the face value of the parables to illustrate economic theory. I recommend having a listen.
NeilA, 4 June 2006, 07:05:
Danny, this is clobbers.
We are not at liberty to stuff around with the Bible in this way and draw legitimate conclusions.
His take on Matt 13:44 is simply not there in the text, because it was not part of the original author’s or speakers intent.
To use Scripture like the parables as a source of economic lessons (above and beyond their intended purpose by Jesus) is no different to Intelligent Design people ripping off Genesis for their purposes.
It’s scriptural vandalism.
I strongly suggest reading some good Bible scholars who know what they are about!
Danny Haynes, 7 June 2006, 23:42:
I will have another listen with your comments in mind and get back to you.
Danny Haynes, 18 June 2006, 22:46:
Neil, thanks for your comments. Yes, I do take your point about taking things out of the scriptures that are not there. Regarding the first parable, I agree that in terms of the higher meaning of the parable, what he says is not in the text and so cannot be taken out of it and given biblical authority. So in this way the text could be said to be misused.
However I would take this analysis as only an illustration of an already proven economic theory, and not drawing a conclusion from the text. In that way, these economic theories are not given biblical authority. I think it is much more fruitful when considering theology and economics to consider the full meaning of the bible passage.
Regarding the second parable, I think that what Father Sirico says is present in the higher meaning of the parable. For example, the future is uncertain. At any moment God can intervene and direct the course of events against our own plans.
In any case I would invite you to have a listen to the audio lecture. I offer this post as a pointer to a lecture that I found to be interesting and not necessarily a whole-hearted endorsement of the lecture.