Reference no: EM132404925
FAITH AND INTEGRATION FORUM 2
1. Matthew 22:36-40 states, "Teacher, which is the greatest commandment in the Law?" Jesus replied: "‘Love the Lord your God with all your heart and with all your soul and with all your mind.' This is the first and greatest commandment. And the second is like it: ‘Love your neighbor as yourself.' All the Law and the Prophets hang on these two commandments." What would be the implications for nations to follow the above, when considering tariffs, quotas, and embargoes? Write a short essay for each consideration.
2. Psalm 24:1 states: "A Psalm of David. The earth is the LORD'S, and all it contains, The world, and those who dwell in it". 1 Corinthians 10:26 states: "... for, "The earth is the Lord's, and everything in it." Job 41:11 states: "Who has a claim against me that I must pay? Everything under heaven belongs to me." Consider the above scriptures and write a short essay on the biblical worldview response to ownership, operation, and transfer risk. Give equal response to each type of risk.
3. Ecclesiastes 11:11 states: "Cast your bread on the surface of the waters, for you will find it after many days." As mentioned in the text, Solomon was deeply involved in cross-border commerce. Consider the trade of grain. When the Israelites would trade their grain with other nations, they were essentially "casting [their] bread upon the water." But notice that with Solomon, the word is plural: "cast your bread on the waters."
A. Write a short essay explaining the implications from a business perspective regarding diversification of money, assets, and investments of "casting you bread upon the waters"?
B. Write a short essay on the biblical worldview response to dealing with business risk within the context of cross-border commerce. What are some proper ways to approach business risk while at the same time being responsible with investments? How is being responsible with investments different than a business gamble since both involve the risk of losing?
4. Consider the trade theories: Mercantilism, Absolute advantage, Comparative advantage, Factor proportions theory, International product life cycle, International Trade Theory, or New Trade Theory. Select one of them and determine what are the Biblical Worldview shortcomings of the selected theories and what if any recommendations would you make to do away with these shortcomings.