Business Administration Faculty Publications

Title

Common Grace and the Competitive Market System

Document Type

Article

Publication Date

Spring 2016

Journal Title

Journal of Markets and Morality

Volume

19

Issue

1

Abstract

This article reviews the biblical doctrine of common grace and evaluates the consistency of competitive free markets with that doctrine. Common grace helps explain much of the good found in a fallen world, while also providing an explanation for why fallen men do not act worse than they do. Competition is seen as a form of God’s common grace because it provides the institutional incentives to constrain market participants from predation and exploitation, while encouraging social cooperation and mutually beneficial exchange.