Monday, August 31, 2009

Stewardship of Capital

"The good steward husbands the property and causes it to produce its proper income. The bad steward mismanages the property so that it yields poorly, or he squanders it, or worse yet, regards it as his own. In the biblical view, God is the real owner of all that the earth contains (Lev. 25:23), and the putative owners are really the stewards whose job it is to manage the property in the interest of their creator. Herbert Schlossberg Idols For Destruction page 316

"Anyone who regards capital, in whatever form it is held, as a trust to be exercised in faithful stewardship for God has to conduct his affairs in a manner that is fundamentally at odds with that of contemporary society. This is because society, as we argued earlier, is in the proces of destroying its capital. Government levies and inflation convert capital into consumption and so dissipate it. In an effort to protect resources from the tax collector and from inflation, as well as to maintain their standard of living in a declining economy, people begin dipping into capital. This has always been folly, and the wisdom literature of the Old Testament branded it so: "Precious treasure remains in a wise man's dwelling, but a foolish man devours it" (Prov. 21:20). Capital, therefore, in contrast to income, should not be converted to consumption, should not be kept in forms that make it vulnerable to currency depreciation, and should be shielded from government confiscation, using all legal means. The innocence of doves must make way here for the wisdom of serpents." Herbert Schlossberg Idols For Destruction page 317

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