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date: 27 January 2021

Abstract and Keywords

Theonomy draws upon biblical law for normative economic institutional arrangements as an alternative to modern “value-free” economics. Often identified with the Reformed faith and allied with “Christian Reconstructionism,” theonomists affirm all nations are made up of God’s image-bearers who though sinful remain bound by God’s “dominion covenant” commanding them to subdue the earth. The Old Testament provides God’s law to direct the rule of nations, and it is mandatory for modern civil government to enforce its “cross-boundary laws.” These statutes provide specific applications of the Mosaic covenant regarding theft and deceit in the form of case laws securing property rights, honest weights and measures, and timely wage payments. Theonomists aver that nations will enjoy long-run economic growth if their governments constrain their economic role to securing property rights, punishing economic fraud, and prohibiting economic abuse of the poor, judicial discrimination in terms of wealth or power, and a central bank monopoly over monetary creation.

Keywords: methodology of economics, Old Testament, biblical case law, Christian Reconstructionism, property rights, cross-boundary laws, economic growth, currency debasement, dominion covenant, honest weights and measures

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