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Class #3:  Mark 1:16-20;  2:1, 13-14 *

Cultural Contrasts and Comparisons:  Economics

1st Century Palestine

21st Century USA

Is an agrarian, pre-industrial world. Is an industrial, or better, post-industrial world.
Great inventions are the plow, wheel (but without ball bearings), and sail. An abundance of slaves in the empire creates little incentive to invent new technologies. Great inventions are the internal combustion engine, computer, and advanced financing. The high cost of labor and intense competition create great incentive to invent new technologies.
There are no stock markets or banks. Loans are procured only through private individuals who charge whatever interest they want. Businesses have many options for raising capital, such as selling shares and getting loans, both of which are tightly regulated.
The money supply is controlled by the emperor--usually badly, with disastrous results. Economic swings can be extreme. The Federal Reserve Bank carefully controls the money supply and heavily influences interest rates. Economic swings are mild.
80-90% of the population works in agriculture, including fishing. Plants yield about 10-15 times the seed sown. 5% of the population works in agriculture. Improved strains and chemical fertilizer mean plants yield about 40 times the seed sown.
Main sources of energy include wood, animals (oxen, asses, camels) and human muscles. Main sources of energy include oil, gas, coal, and nuclear reactors.
Only 2-4% of the population is literate. Only 2-4% of the population is NOT literate.
The family is the primary unit of production and consumption. The individual is the primary unit of production and consumption.
"Factories" in the Roman world used less than 50 workers, but most businesses are operated by a few people. Industrial corporations may employ tens or hundreds of thousands of workers.
The tax rate for ordinary people totals 35-40% of income. The wealthy pay no taxes at all. Graduated tax rates mean the wealthy theoretically pay more than people with smaller incomes.

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