Lux Lucet

The study of ethics, what we ought to do, is one of the principle fields of philosophic inquiry. And many are they who presume to speak with authority on this subject. But as with all statements of all men, the Christian ought to compare all ethical claims by the standard of Scripture.

And what is the basis of Christian ethics? The law of God. A thing is right, for no other reason that God says it is right. A thing is wring, for no other reason than God condemns it Peter summarized this idea when explaining to the Sanhedrin why he disobeyed their order not to speak in the name of Christ. He told them, “We ought to obey God rather than men” (Acts 5:9). Understanding this one principle greatly simplifies the Christian’s task of judging the ethical merits of any proposed course of action.

For example, during the 2008 financial crisis, the powers that be so frightened Congress and the American people with visions of financial Armageddon, that TARP, a taxpayer financed $700 billion bailout package aimed at saving the so-called too-big-to-fail banks on Wall Street, was passed. It was just obviously the right thing to do. So much so, that one of my business school professors said it was boring even to question the decision.

But was this decision to rescue failing financial firms with taxpayer money self-evidently ethical? Where, for instance, in the Constitution is Congress ever given the authority to bail out anyone? More to the point of this essay, where does the Bible ever grant the civil magistrate the power to take from one person to give to another? The law of God calls this theft, and we are commanded not to do it. In short, the Bible condemns TARP and all those who planned, advocated, voted for, and benefitted from it. Guilty too are those who continue to defend it.