No Free Lunch: Economics for a Fallen World (Third Edition, Revised)



School or Department

Business Administration



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This open access introductory economics text is available for anyone interested in free market economics from an explicitly Christian worldview. This book is intended to be an engaging read, while not sacrificing technical accuracy or submission to biblical authority. Each chapter contains an introductory scriptural commentary and clearly defined objectives, as well as a “great economist” section at the end and concluding chapter questions. This text supports free market institutions because only free markets provide the outlet for the creativity of man made in God’s image while likewise providing the institutional constraints that minimize the harm that fallen man can do to others. We strongly encourage you to think about this concept as you go through this text.




Business, economics, Christian worldview

Publication Date



Cedrus Press


Cedarville, OH


Business | Christianity | Economics


Publication history:

Second Edition - 2017
Second Edition, Revised - May 2018
Third Edition, Revised - 2020

About the Author

Dr. Haymond joined the faculty at Cedarville University in 2010 after a 29-year career in the United States Air Force. While in the Air Force, Colonel Haymond had assignments in engineering, satellite control, and launch operations. He taught at the United States Air Force Academy and was an Air Force Fellow at The Brookings Institution. His research has been published in scholarly journals such as the Quarterly Journal of Austrian Economics, Public Choice, the Journal of Public Choice and Public Finance, and Journal of Faith and Economics. His current research interests include economics and religion, as well as monetary theory.

Visit Dr. Haymond's Selected Works page.

No Free Lunch: Economics for a Fallen World (Third Edition, Revised)