The difficulty in studying economics is most of the literature is written by unregenerate individuals. As with the study of any academic discipline, the born again individual needs to use discernment.
The unregenerate man is at enmity with God (Romans 8:7) and their understanding is darkened (Ephesians 4:18). While the individual author may elucidate foundational principles that the Bible will support, they come to these from a different perspective and we should be careful. Those who come to different conclusions than what the Bible teaches are simply wrong and should be outright rejected (2 Peter 2).
The Bible teaches property is God’s creation (Genesis 1:1), given to man for his use (Genesis 1:26) and God’s glory (Revelation 4:18). Further, property is more than physical in nature, it is immaterial (Genesis 2:7) as well. As an individual I am ultimately accountable to God for my thoughts, attitudes, beliefs, emotions, words etc. I am accountable (Romans14:10)for these and more. I will be judged one day, not for my sin, which has been paid for by my faith in Christ and His atoning work, but for these very things indicated above.
Likewise, I am responsible for the physical stuff that God has granted to me. I will give an account (2 Corinthians 5:10)for the material aspects of my life. Again, not for sin because that has been dealt with through the redemptive blood of Christ.
The role of intellect, property and labor as the primary material means in the individual’s life to glorify God and cannot be understated as we seek to be obedient. Likewise, the consequence of sin, and it affects these three characteristics of obedience cannot be understated.
Understanding these aspects without the light of scripture is self-defeating. The academic who denies the authority of scripture moves their work from a firm foundation to the capricious whims of man. “…but every man did that which as right in his own eyes.” Judges 17:6
The unregenerate will seek solutions to human problems outside of the revelation of God’s Word. It is arrogance to think, “I know better than God” and folly to pursue such thoughts and consequential actions.
When considering sin and the limitations it has placed on humanity, it is paramount that we consult God’s Word before we set a course to solve problems. Without such consultation, we are in danger. We naturally face material shortages that threaten our survival. A correct understanding of God’s principles can help to alleviate much of that distress.