It is difficult to turn on the television today and not hear someone’s take on the sad state of the American economy. Words such as debt, recession, bailout, investments, capitalism, and economic bubble are part of the everyday discussion. There is a mad rush today between our major political parties to see who will rescue the nation from an anemic, failing, and ever-shrinking economy. In his new book, “Godonomics; How to Save Our Country and Protect Your Wallet Through Biblical Principles for Finance” pastor Chad Hovind asserts that neither the economic policies of the elephant and donkey will correct the present economic tailspin. Instead, it will be the Lamb’s policies and principles that offer the best chance of recovery. Hovind defines Godonomics as “God’s teaching and wisdom in the realm of finances and economics”. The structure of the book is unique. Hovind poses hypothetical questions that God would ask past and current economic thinkers and political leaders who have negatively impacted the nation’s economy. Such people include john Maynard Keynes, Franklin Delano Roosevelt, Alan Greenspan, Karl Marx, and the Internal Revenue Service.
Through his book, Hovind keeps the difference between capitalism; the free exchange of privately owned good and services and socialism; state control and state ownership of industry ad property before the reader’s eye. He begins with the Pilgrims and what would become the Massachusetts Bay Colony. Their earliest form of governance was, at its heart, a form of socialism where the goods and services of the individual are pooled together and redistributed to the entire colony. This system failed quickly and William Bradford searched the Bible for answers. He found the foundational principles that would become the blueprint for a new economic system, then and now. He understood that property rights, incentive, and freedom were critical to economic success. Throughout the book, Hovind demonstrates the erosion of these three. Hovind states, “a strong economy is fueled by production, and producing leads to profit. Profit covers our expenses and builds savings. Out of savings we spend, invest, and give to others”. The questions that Hovind believes that God would ask deal with the areas that work against his idea of a strong economy. The areas of concern involve work, profit, spending, budgeting, unintended consequences, liberty, money supply, greed, rule of law, and voluntary giving. The author does an excellent job of placing the beliefs of these leaders alongside the Bible to demonstrate the wisdom and prudence of considering God’s position on financial matters.
I really enjoyed this book. The most profound and relevant chapter in my opinion is the questions that God would ask President Franklin Delano Roosevelt. By breaking down the reasons for and the method of payment for FDR’s New Deal, Hovind draws a striking and ominous resemblance to President Barack Obama’s Troubled Asset Relief Program (stimulus packages). This chapter is worth the price of the book. Hovind’s treatment of the subject is biblical, objective, and thought-provoking. Godonomics is well-researched and timely. Godonomics is a true clarion call to consider the biblical vantage point of financial matters. An outstanding work. I highly recommend it.
Disclosure of Material Connection: I received this book free from Waterbrook Multnomah Publishers as part of their Blogger Review Program. I was not required to write a positive review. The opinions I have expressed are my own. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”