The latest Parliament Hill fireworks have crystallized a number of things. One of them is the complete incongruence of thinking that pertains to religious conservatives when it comes to basic economics. Deriving this conclusion from numerous conversations with my co-parishioners, I conclude that there is a profound and widely held disinterest in actually living to the most celebrated economic examples of the Bible we purport to hold as the highest standard. Let’s consider the glorious wisdom of Joseph, the ruler of Egypt. Yes, he sported an egregiously luxuries Technicolor coat but this is not his most prominent contribution.
His most valuable legacy is his response to the seven years of famine preceded by seven years of abundance and plenty. So what did Joseph do in the first happy years? He restrained consumption by taxation and ran surplus budgets of hoarded grain. And what did he do in the lean years? He spurred on consumption by running budget deficits by unloading the grain. The economy in the process was spared very high peaks and very low valleys.
What the Liberals did under Martin and propose today is exactly this pattern. The Conservatives on the other hand have done quite the opposite. They encouraged consumption during peaks by cutting corporate taxes and consequently gutting the surplus. Today, at the start of famine, they propose to balance the budget while the world, figuratively, starves for grain. Yes, they persist with reduced corporate taxes. But this is of little avail when there is not enough private demand (i.e. consumption) as people’s ability to spend diminishes with every newly laid-off worker.
So considering the above it is essential that religious conservatives re-evaluate the current economic policies of this government as unbiblical. After all, is this not the time to consider a very strong possibility that Joseph was in fact an economic liberal?
His most valuable legacy is his response to the seven years of famine preceded by seven years of abundance and plenty. So what did Joseph do in the first happy years? He restrained consumption by taxation and ran surplus budgets of hoarded grain. And what did he do in the lean years? He spurred on consumption by running budget deficits by unloading the grain. The economy in the process was spared very high peaks and very low valleys.
What the Liberals did under Martin and propose today is exactly this pattern. The Conservatives on the other hand have done quite the opposite. They encouraged consumption during peaks by cutting corporate taxes and consequently gutting the surplus. Today, at the start of famine, they propose to balance the budget while the world, figuratively, starves for grain. Yes, they persist with reduced corporate taxes. But this is of little avail when there is not enough private demand (i.e. consumption) as people’s ability to spend diminishes with every newly laid-off worker.
So considering the above it is essential that religious conservatives re-evaluate the current economic policies of this government as unbiblical. After all, is this not the time to consider a very strong possibility that Joseph was in fact an economic liberal?