The Bureau of Labor Statistics announced this week that the consumer-price index rose 1.3% in June and 9.1% over the past year. It has been 40 years since Americans have grappled with inflation this high. This presents an economic problem but also a moral one—and the Bible offers some guidance.
Scripture is replete with teachings about the importance of sound money. The Torah, the first five books of the Bible, contains 25 references to the “shekel of the sanctuary,” a coin of a fixed weight placed in the Tabernacle of the Lord to ensure that all commercial transactions took place on the basis of “a perfect and just weight” (Deuteronomy 25:15).