The Economics of the Nativity with Jerry Bowyer

Dec 11, 2024

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“And there were in the same country shepherds abiding in the field, keeping watch over their flock by night. And, lo, the angel of the Lord came upon them, and the glory of the Lord shone round about them: and they were sore afraid.” - Luke 2:8-14

That’s from the Christmas Story in Luke, Chapter 2. The angels announce the coming of the Savior to a group of shepherds. It sounds simple enough…but there’s more to the story. Jerry Bowyer joins us to talk about it.

Jerry Bowyer is the President of Bowyer Research and our Resident Economist here at Faith & Finance. He is the author of “The Maker Versus the Takers: What Jesus Really Said About Social Justice and Economics.” You can also read his insightful columns for World News Group.

Why Shepherds?

When the angels announced Jesus’ birth, their audience wasn’t kings or scholars but shepherds. Often portrayed as social outcasts historically, shepherds were viewed negatively because their flocks could wander onto others’ property, leading to accusations of theft. Despite this reputation, shepherds played a crucial role in the temple system, raising sheep for sacrifices.

Bethlehem, where Jesus was born, was a hub for breeding sacrificial lambs. Archaeological evidence supports this, highlighting structures like the Migdal Eder (Tower of the Flock), where unblemished lambs were identified for temple sacrifices. This foreshadows Jesus’ role as the ultimate Lamb of God, born in the city that prepared lambs for sacrifice.

Mary’s Economic Philosophy

Mary’s Magnificat (Luke 1:46-55) reveals her economic worldview. In this poetic expression of praise, she celebrates God’s justice: the rich are sent away empty, and the poor are filled. These are the socio-economic dynamics at play when Mary visits Elizabeth in Judea, a wealthier and more hierarchical society compared to Galilee. Elizabeth’s high status contrasts with Mary’s humility, yet Elizabeth honors Mary, signaling a reversal of societal norms.

Interestingly, Mary’s upbringing near Sephoris, the financial capital of Galilee, likely exposed her to sophisticated cultural and economic ideas. This blend of humility and intellect influenced her son, Jesus, whose teachings often echoed themes from her Magnificat.

Herod’s Fear and the Temple System

The birth of Jesus didn’t just bring joy; it also struck fear into the hearts of the ruling class, especially King Herod. He and the temple elites understood the revolutionary implications of Jesus’ arrival. The Messiah’s mission to bring justice threatened their corrupt economic system, which exploited the poor through practices like unfair money-changing in the temple.

Herod’s fear highlights the broader conflict between two kingdoms: one driven by greed and oppression and the other by justice and generosity. This tension culminates in Jesus’ cleansing of the temple, an act that symbolized the dismantling of a corrupt economic system.

The Magi and the Two Temples

The gifts of the Magi—gold, frankincense, and myrrh—mirror offerings described in the Torah for the temple. The gospels contrast two “temples”: the physical temple, corrupted by greed, and Jesus himself, the true temple who provides for the needy. This theme of “the Maker versus the Takers” runs throughout the gospels, illustrating the stark difference between God’s economy and human systems of exploitation.

Economics in God’s Plan

The Nativity story profoundly reminds us that God’s master plan includes economics. From shepherds to Mary’s Magnificat and from Herod’s fear to the Magi’s gifts, every detail points to God’s concern for justice, generosity, and the redemption of all aspects of life—including money.

This Christmas, as you reflect on the birth of Christ, consider how God’s kingdom calls us to live with integrity, humility, and a heart for justice in every area of life.

On Today’s Program, Rob Answers Listener Questions:

My husband plans to wait until full retirement age to take Social Security. I will take spousal benefits, but I'll only be 65 when he retires. Can I take spousal benefits, then? Or will I have to wait until my full retirement age?
I'm 35 and returning to work part-time at my kids' school. We have $600,000 saved for retirement, max out my husband's 401(k), and do a backdoor Roth IRA. I have to contribute 10% to OPERS. Should I invest in their deferred comp option with about $800 per month, or is there something else you'd recommend?
We have a HELOC that matures a couple of years after our mortgage is paid off. The bank said it's best to keep the HELOC open to safeguard against potential fraud. Should I follow their advice and keep the HELOC open, or is this just the bank trying to get us to spend more money?

Resources Mentioned:

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