View from our trip through Lewiston, IdahoTonight I had my second in a series of 8 classes on Theory of Economic Anaylsis. A couple of points gave me cause for reflection. One of the basic ideas of economics deals with limited resources and unlimited wants. If we choose to use resources for one thing, we give up the chance to use it for another. (That's called opportunity cost, by the way). And yes, I am paying attention in class even though a lot of goes way past my head.
In my thoughts of decorating a room, it occurs to me that if I spend money on part of the room, I cannot spend it on another part. If I would choose to buy new furniture, for instance, I might have to give up another part of the project. I can choose to use the existing furniture and decide that the old carpet really needs to go. (I have already decided that the drapes will be replaced with something else even if it is old sheets).
This might not seem so startling to you but it is an interesting thought. Sometimes I shop and tend to buy things because they are on sale but I might be sacrificing the opportunity to save up and buy something I really do need (or think I need). Remember the part about "unlimited wants?" That is so basic but really true, isn't it. Maybe that is why the writer of Hebrews said, "Keep your lives free from the love of money and be content with what you have, because God has said, 'Never will I leave you; never will I forsake you.'" (13:5)
1 comment:
God's economics is one area that is always dependable
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