By Doug Newman
A few years ago, I emailed someone who is far more of a Bible scholar than I will ever be and asked him if the Bible addressed the issue of supply and demand. He provided me with some interesting answers.
Although the Bible does not handle the concept of supply and demand the way economists do in textbooks, it does touch on the subject in some very practical ways.
Proverbs 27:20 on the issue of demand – “Hell and destruction are never full; so the eyes of man are never satisfied.” (See also Ecclesiastes 1:8.)
Proverbs 20:14 also relating to demand – “It is naught, it is naught, saith the buyer: but when he is gone his way, then he boasteth.” People love to negotiate a price down and then brag to their friends about the “great deal” they got.
Deuteronomy 28:1-14 – God will bestow abundant supply and blessing on His people when they obey His commands.
Deuteronomy 28:15-68 – God will curse His people with scarcity when they do not obey His commands.
II Kings 6:24-29 describes scarcity and resulting high prices during the Syrian siege of Samaria. Keep reading through II Kings 7:1-20 and you will see how prices drop as commodities become more abundant after the siege is lifted. This is a reflection of market fluctuations, and not a result of statist edict.
As an old pastor friend of mine once said, “God’s fingerprint is on everything.” This includes the economic laws of supply and demand. There are no doubt other Scriptures that apply to this subject. Please email me if you can cite any examples.