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Book Review – Business for the glory of God
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Book Review – Business for the glory of God
Introduction
The topic of lending, borrowing and debt in the biblical context often elicits a somewhat
controversial debate, especially in Christian settings, with different scholars taking different
stands and perspectives on the subject matter. Grudem (2003) addresses the topic of borrowing
and lending in Chapter 9 of the book “Business for the glory of God: The Bible’s teaching on the
moral goodness of business." In this chapter, Grudem (2003) presents the biblical perspectives
on borrowing and lending, as supported by scripture in both the Old and New Testaments. The
chapter also extends these biblical perspectives to fit the contemporary business world,
explaining how humans can apply them in context to govern their positions on lending and
borrowing. In line with this overview, this book review goes deeper into the chapter and analyses
it critically to provide an in-depth review that includes both points I agree with and disagree
with.
Points of agreement
One of the main points Grudem (2003) presents that I agree with is that the Bible is clear
on the fact that people should pay all debts due to them. Based on scripture from Romans 13:6-8,
Christians ought to pay their dues, including taxes, revenue, and debt. I agree with Grudem’s
(2003) perspective on this point since it is consistent with several other elements of scripture and
current laws in the business world. For instance, Psalms 37:21 points out that only the wicked
borrow and fail to pay. This shows that the failure to pay back what was borrowed is heavily
condemned in the Bible, proving the case for the need to pay debts. Further, 2 Kings 4:1-7 also
recounts the story of Elisha and the widow whose olive oil was replenished. In the passage,
Elisha instructs the widow to sell the oil and pay her debts, again showing the importance of
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paying back what was borrowed. Thus, the Bible's core message on debt and borrowing is that
borrowers should pay their debt. Additionally, current laws in the business field exist, which
govern the nature and process of lending and borrowing; these laws enforce the requirement for
the borrower to pay back what they owe the lender over a stipulated duration, with specific
repercussions should they fail to honor the agreement (Goldmann, 2012).
Another point I agree with in Grudem's (2003) chapter is that lending should improve the
borrower's situation. Thus, lenders should not be proud or take advantage of the borrower's
situation by collecting excessive interest on debts. Grudem (2003) mentions Jesus cautioning
lenders against exploiting the poor (Luke 19:23; Matthew 25:27). I agree with this perspective
since it can also be corroborated by other parts of scripture and modern regulations that govern
interest rates in the contemporary business environment. For instance, the Old Testament
prohibits people from taking advantage of the poor in their poverty by cautioning them against
setting interest rates on them when they borrow. This is explicitly mentioned in Exodus 22:25
that when lending to the needy, one should not treat it like a business deal; instead, they should
charge no interest on the borrowed amount or commodity. Psalms 15:5 acknowledges lending to
the poor without charging interest as a righteous deed. Therefore, the Bible strongly emphasizes
the need for lenders not to take advantage of the poor or the needy; and not to charge interest on
their debts.
Similarly, some laws enforce this biblical principle in the contemporary business world,
most of which exist to guard against usury. Luther (2015) defines usury as lending money to
individuals or firms and charging unreasonably high-interest rates, often beyond the rates
permissible by law. Keynes (2018) adds to this definition to explain usury as the interest charged
by a lender over and above the existing limit set by the law. Loans created at this rate are referred
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to as usurious. They are often illegal in most states since they aim to enrich the lender at the
expense of the borrower's misfortunes and poverty. Usurious rates are often punishable by law,
including monetary fines on the lender, compensation for the borrower, or the lender losing some
of the interest or even principal borrowed from them (Basile, 2020). From these two standpoints,
both biblical and contemporary, the arguments intersect with the fact that lenders should not
capitalize on the borrower's poverty or oppress the needy by setting high-interest rates on their
loans.
Point of disagreement
In the chapter, Grudem (2003) alludes that the Bible does not discourage or prohibit
borrowing and even encourages lending. From this perspective, Grudem (2003) argues that
borrowing and lending are seen as moral deeds from the biblical viewpoint. However, I disagree
with this argument since the Bible does not implicitly or explicitly ascribe morality to the
practices of borrowing and lending themselves. While elements of the scripture imply that
borrowing and lending are bound to happen, as seen from Deuteronomy 24:10 and Psalms 112:5,
the Bible remains neutral on the morality of borrowing and lending. It does not specify whether
borrowing and lending are good or bad. This decision lies with the individual, who is to evaluate
both sides of the situation based on their interpretation of scripture and choose whether to engage
in borrowing and lending or not. While the Bible does not mention debt being a sin or a result of
disobedience, many Christians tend to assume so based on their interpretation of scripture
(Christian Stewardship Network, 2021). Therefore, in line with this argument, I disagree with the
perspective of Grudem (2003) in ascribing morality to the practices of borrowing and lending in
themselves – that should be left at the discretion of the individual to make their own decision
based on biblical and personal principles.
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References
Basile, C. (2020). Criminal Usury and Its Impact on New York Business Transactions.HTouro L.
Rev.,H36, 409.
Christian Stewardship Network. (2021, May 26).HWhat does the Bible say about debt? —
Christian stewardship
network.Hhttps://www.christianstewardshipnetwork.com/blog/2021/4/16/what-does-the-
bible-say-about-debt
Goldmann, M. (2012, February). Responsible sovereign lending and borrowing: the view from
domestic jurisdictions. InHComparative Survey Written for the United Nations
Conference on Trade and Development, available at http://www. unctad.
info/upload/Debt% 20Portal/RSLB_MGoldmann_02-2012. pdf (Accessed 1/5/2013).
Keynes, J. M. (2018). Notes on mercantilism, the usury laws, stamped money, and theories of
under-consumption. In The General Theory of Employment, Interest, and MoneyH(pp.
297-330). Palgrave Macmillan, Cham.
Luther, M. (2015).HOn Commerce and Usury (1524). Anthem Press.
