Economics: The American Economy

In Economics: Principles & Policy, Tom Rose investigated the fundamental elements of microeconomics from a Christian and libertarian perspective. His follow-up volume, Economics: The American Economy from a Christian Perspective, elaborates on the ideologically foundations of the earlier book to describe national (or macro) economics.

This is a textbook that can stand alone, though if you want to know precisely where Rose is coming from on some issues, you'll want to read the other book first. Students (high school or older) shouldn't have trouble with the writing style, but some of the concepts are fairly difficult and one or two chapters (particularly those on money and international trade) may be slow going. Review questions at the end of each chapter can be answered in writing, though they make better discussion topics in a teacher/student or group setting.

Terms like "fiduciary" and "fiat" and "fiscal" are clearly explained, and Rose ably links related topics in his treatments. Actual economic facts and policies are interspersed with ideological and theological perspectives through which Rose argues for a free market, personal liberty, and a self-regulating system oriented around supply, demand and competition.

Don't think this is merely a theoretical treatise on Austrian School economics, however. Rose elucidates the whole spectrum of American economics both foreign and domestic with specific emphasis on monetary policy, the banking system, and taxation. Again, these are fairly advanced concepts, and if this is your first foray into economics we recommend starting somewhere easier, such as with Henry Hazlitt's Economics in One Lesson.

If you intend to have your high school students read this, we encourage you to read it first or alongside them, and to engage them in frequent and in-depth discussion of its contents and ideas. At the end of the day, "a Christian perspective" is really just Tom Rose's perspective, and while he marshals considerable Scripture in defense of what he teaches, we need to be careful to measure all of his words against the Word of God in its entirety. This is a good book, but should be approached with caution.

Review by C. Hollis Crossman
C. Hollis Crossman used to be a child. Now he's a husband and father who loves church, good food, and weird stuff. He might be a mythical creature, but he's definitely not a centaur. Read more of his reviews here.