The market allocates scarce resources to competing applications. That allocation mechanism assumes an initial endowment among the principals within the economy of both tastes and preferences as well as goods, and also rules and laws to guide conduct.
In the Bible that initial endowment involves the chuqim or allottment as between God and Man; the rules of conduct, the mishpatim that flow out of the dignity of the respective allottments; and the inventiveness that enables Man to devise new systems to govern conduct and allocate properly during periods of feast as well as famine.
No comments:
Post a Comment