Scripture Introduction
How much is a person worth? I read that the average human body is: 65% oxygen, 18% carbon, 10% hydrogen, 3% nitrogen, 1.5% calcium, and smaller amounts of things like phosphorous, potassium, sulfur, iron, zinc, and copper. These elements can be bought for about four dollars.
How much is a person worth? A recent magazine article claimed that on the black market you could sell your bone marrow for $23 million, your DNA for $9 million, and the antibodies you carry for about $7 million. A lung or kidney might fetch $100,000, and a heart over $50,000. Selling all of your body parts at top dollar might bring $40 million. So are you worth $4 or $40 million?
How much is a person worth? If the recession turns into a depression so that I could not sell my house for what I owe, I might have a net worth less than zero. So I am worth either $4, or $40 million, or <-$40,000>?
But maybe none of those answers is correct. 1Peter 1.7 says that the faith we have through Jesus Christ is “more precious than gold.” And Lamentations 4 tells us that “The precious sons of Zion [are] worth their weight in fine gold.” If the average son of Zion weighed 170 pounds, they would be worth about $2.5 million.
Economics has to do with value. What is it worth? We may think this a modern science, but valuations actually began in the Garden of Eden, before the fall. Our text is Genesis 1.31-2.14 as we consider The Beginning of… Economics.
[Read Genesis 1.31-2.14. Pray.]
Introduction
When my kids were much younger they sometimes asked questions like, “Dad, is two feet a lot?” Of course the answer depends on what we are talking about. A two-foot stack of gold coins is worth a lot, about $150,000. But a two-foot deep swimming pool is not really enough to swim in. And yet, a two-foot stack of gold coins is not a lot when compared to the national debt; and two feet of water is very deep for a toddler who can’t swim.
Economic valuations are often relative. The answer to the seemingly simply question, “Dad, are we rich?” depends on what we value and whom we are compared to. We are certainly rich in God’s blessings. And we are rich compared to most everyone in Zimbabwe, Congo, and Burundi, which all have a per-capita GDP of less than $500. But I read somewhere that to be rich is to be debt-free, to have more than enough to cover your needs and reasonable wants, and having the resources to help the people in life that you care about.
Is two feet a lot? It depends. Are we rich? It depends. Economics is a tricky subject.
What is value and how is it decided? I entitled this message “The Beginning of… Economics,” but my topic is more narrow; it is where economic theory begins, with the relationship between intrinsic and
imputed value.
Some suggest the value of a item is intrinsic—its worth is one of the basic and essential features that make it what it is, rather than because of its associations or consequences. Different theories suggest how value gets into something—maybe the labor which made it or the aggregate opinion of society. But in some way, either because of its usefulness or its necessity, it has inherent economic value. In various forms, Karl Marx, John Stuart Mill and (on some days) Adam Smith, taught that economic value was intrinsic. Mill, for example, wrote that playing chess is intrinsically more valuable than playing checkers because it requires more intellectual effort, so it is more useful. This is the economics of utilitarianism.
There is some truth here. Heaven has intrinsic value—God is there. The Scriptures have intrinsic value—they are God’s very words. And in an agricultural economy, especially with significant scarcity of the necessities of life, the intrinsic theory seems to work. But it fits less well the economics of urban and wealthy societies. If value were only intrinsic, then a glass of water (necessary for life) should cost more than a glass of diamonds (which have very little use). Yet as Marilyn Monroe sang, “Diamonds are a Girl’s Best Friend.” We impute value to them, in part because of their scarcity.
The progress of capitalism pushes an alternative theory of economics, that value is imputed. According to this theory, all markets must be free so that cost is dictated by what people want. If I want diamonds, they become valuable to me; if enough people want diamonds, the price rises correspondingly. Enoch Powell (a member of the British Parliament in 1967), said: “If people value it, it has value; if people don’t value it, it doesn’t have value; and there is no ‘intrinsic’ about it.” (Quoted in North, The Dominion Covenant, 41).
The intrinsic theory fails to explain the “water/diamond” paradox; the failure of a purely imputed value theory can be seen in the problems of a completely laissez faire market. Gary North calls this the “Bible/pornography paradox”: “Rebellious people, determined to work out their own damnation without fear or trembling, impute value to pornography and little or none to the Bible.”
But the Word of God is valuable, more precious than gold, sweeter than honey. Its value is intrinsic, within it, even though, in a fallen world, few capitalists get rich selling Bibles. The free market wrongly judges value.
Is true economic value intrinsic or imputed? Both. Some things are valuable in themselves, other valuable because we desire them. Sinful and autonomous mankind ignores God’s economic assessment and insists on their own. Faith (on the other hand) trusts God’s goodness and wisdom, and values things as God does. The gospel frees men and women from false economies so that we lay up for ourselves treasures of lasting economic value. To get there, first notice…
1. True Value Is Known by God’s Declaration (Genesis 1.4,10,12,18,21,25,31)
Seven times God judges creation good. The perfect being has made all things well, giving them value in and of themselves. We know they are good because God declares them so. “Nothing remains for us but to acquiesce to the judgment of God” (John Calvin). Creation is good, “very good” even; it is complete, lacking nothing, exactly as it should be; nothing is wrong with it and nothing is missing.
So when we hear (in Genesis 1.31): “God saw everything that he had made, and behold, it was very good,” we should think, “There is an absolute standard by which the correct value is assigned. Will I agree with God’s assessment? Will my economy match God’s reality, or will my rebellious heart refuse to submit to God’s evaluation?”
You may have heard the saying, “Beauty is in the eyes of the beholder.” That is true, but not enough. What if the beholder is blind?
Let me give an example. Many Americans spend a great amount of time watching television and surfing the internet; our society greatly values visual entertainment. Suppose I offer someone 3000 solid gold coins and 3000 solid silver coins to disconnect from all visual media for one year. At current prices, that would be over $3 million. Someone would jump at that offer. Now suppose I suggest to the same person that she disconnect from the media and instead spend all that extra time reading and memorizing the Bible. Few would accept that offer, though Psalm 119.72 says, “The law of your mouth is better to me than thousands of gold and silver pieces.”
God tells us the value, but fallen people cannot see it.
Maybe another example. I am not very fond of problems in life. What value do I assign to the trials and temptations I face? Is my economic assessment the same as God’s?
James 1.2-4: Count it all joy, my brothers, when you meet trials of various kinds, for you know that the testing of your faith produces steadfastness. And let steadfastness have its full effect, that you may be perfect and complete, lacking in nothing.”
When God declares something “good,” “more to be desired than gold,” “a precious treasure,” “all joy”—however he assesses the value, faith believes God and fights hard to receive the reward promised. God values correctly; will we see also?
2. Mankind Also Imputes Value (Genesis 2.9-14)
Keep in mind that Moses writes to people whom God rescued from slavery, but are now wandering in the wilderness due to their rebellion. Because they dislike God’s judgment on their sin, they tend to blame God for their problems. They are thirsty and hungry; they long for delicious food and the beauty and comfort of a cool and refreshing meadow. They tell themselves, “If only the environment were better, then we would be holy and happy. If we could have good food, good water and good wealth, then we would be content and good.”
So Moses reminds them of the qualities of Eden, ones which they would agree are excellent.
First, it was beautiful. Genesis 2.9 says the garden was “pleasant to the sight.” That is probably an understatement; its beauty would have take our breath away. Adam and Eve looked around and agreed with God’s declaration. Beauty is an intrinsic value that Adam and Eve correctly identified.
It was also useful: the fruit was “good for food.” Not only did it supply their physical needs, but it was sweet, delicious, gratifying to the palate. Eden was beautiful, it was useful, and third, it was filled with natural resources: water and precious jewels and stones.
Eden overflowed with wealth that everyone recognized. There was only one qualification, one test, one part that was not valuable. God said, “The whole garden is good for you, except for this tree. Here is the test of your faith, Adam and Eve. Will you impute the same value to this tree that I do? Or will you insist that what I call ‘not good’ is something you must have?”
I think there are two critical applications for us. First, realize that Moses wrote about the gold so that we would not doubt God’s ability to make a paradise. Wandering in the desert, the Israelites longed to return to Egypt: “Why did you bring us out here to die?” They doubted whether God could satisfy them. But remember that God made the gold; God made Eden. The problem is not God’s ability, but our willingness to be satisfied by God. Israel read this and remembered that God would provide a promised land; we read it and remember that our reward is in heaven.
Second, the gold of Eden reminds us that circumstances and comforts are not the solution to our problems. When we are in dire straits, we easily supposed all would be great with more money. But Adam and Eve had all they could want, and turned it down in favor of rebellion. They had perfect circumstances, but chose to pay dearly for that which was worthless. This is the same answer which fallen people continue to give: “God, I do not care what you say. I have eyes, ears, thoughts and feelings. I will determine what is valuable apart from your assessment.”
3. The Effect of the Fall on Economics
Two effects to note. First, when God created mankind, we were valuable. Not because of the mud from which we were made, but because of the image we carried. So precious is the image of God in a person that they who murder must themselves be punished by death. But after eating from the tree of knowledge of good and evil, how valuable is mankind?
Romans 3.12: “All have turned aside; together they have become worthless; no one does good, not even one.”
What was once of great value is now worthless. What conformed to God’s will now rebels. What delighted in pleasing God now delights in angering him. Our value is lost.
One other effect of the fall, which I have alluded to already: our ability to judge value is lost. Not only is mankind’s own worth ruined in the fall, but now he refuses to make accurate economic assessments. As sinful people, we acquire that which is damaging; we love what is ugly; we buy things which are worthless.
This is a main point in the book of Proverbs. “He who commits adultery lacks sense; he destroys himself” (Proverbs 6.32). Solomon teaches his children that people make foolish economic choices every day.
Jesus reminded us of the same: “Do lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal…. Lay up for yourselves treasures” [you must make economic choices] but put your treasures “in heaven” (Matthew 6.19-20).
The question I think we should ask is: “How do we begin to accurately assess economic value?”
4. The Recovery of Economic Truth
At the cross what is intrinsically priceless (the blood of the son of God), is despised and deemed of no worth (poured on the dirt as one might contaminated water). Yet God imputes to the blood great value, sufficient for the cleansing of sin, and he asks you and me (by faith) to impute to this blood the same value he does. How will we respond?
Many people this morning hear of Christ’s life and death refuse to accept God’s evaluation of Jesus’ work. What God names the most valuable thing in the universe and presents as a free gift to all who will receive it, many consider not worth even a thought or tear. When offered treasure of great worth, many reject it in favor of the garbage they earn by their own good works.
Matthew 13.44-46: The kingdom of heaven is like treasure hidden in a field, which a man found and covered up. Then in his joy he goes and sells all that he has and buys that field. Again, the kingdom of heaven is like a merchant in search of fine pearls, who, on finding one pearl of great value, went and sold all that he had and bought it.
Jesus describes something so valuable that we should give everything for it. But sinful women and men refuse to see its worth and despise it as of no account. God says it is more precious than gold and silver. Whom will we believe? That is the first application of this text: will we accept God’s valuation of what is important in life? Your stock broker will call you a fool for buying treasure in heaven. Whom will you trust?
Second, we must realize that we constantly make economic judgments. What we teach, what we say, what we feel, what we do—the practical choices we make everyday reveal our economic sensibilities. What do we value? Where do invest time and resources? What do we pay dearly for? Taking dominion does not begin when we get an elected official in Washington who spends money the way we like; it begins when we like spending our time and talents on what God calls a great treasure.
Third, we must recognize and rejoice in where our true value lies. It is not within us, for we are fallen. It resides with another:
Well may the accuser roar,
of sins that I have done.
I know them well, and thousands more,
Jehovah knoweth none.
How can this be? Imputation. God takes my sin, imputes (credits) it to Jesus, and punishes him for what is now his rebellion. Simultaneously he takes the obedience of Jesus, imputes (credits) it to me, and rewards me for what is now my righteous and godly life.
Though it seems too good to be true, the resurrection proves it. Will you believe God and have him impute to you this economic evaluation: “Behold my child, whom I love. He is in Christ, and he is very good.”
