What should we say? Well, I believe that history as shown that we should embrace markets. Markets have proven to be the best way to structure interactions in economic life. Marxist Socialism failed because it had major flaws inherent in the system. But, is capitalism God’s ordained economic system?
Michael Kruse is helpful here when he writes,
If the question is whether or not free market capitalism is the biblically prescribed model for the economic life, then the answer is an emphatic “No.” There is no culturally transcendent economic model given in the bible. Therefore, no economic model is Christian. Those that would take capitalism (or any other economic system) down to the river and baptize it as THE Christian model engage in idolatry.
If the question is whether or not free market capitalism emerged from a society with a distinctively Christian ethos, then the answer would clearly be “Yes.” The ideas of human beings created in the image of God, linear time, progress, future orientation, and vision oriented ethics, were the soil from which capitalism grew. This is NOT to say that free market capitalism is the best of all economic systems that can, or ever will be, conceived. It is merely to acknowledge the roots from which it sprang.
The third way of interpreting this question is to evaluate the degree to which free market capitalism moves us in the direction of the coming age of shalom. It is this evaluation that has to be asked about every human construction, always with an eye to the fallen state of humanity and the inability to achieve utopia in our present age.
Market Economy vs. Market Society
Kingdom Economics vs The American Dream
Should We Want a Completely "Free Market?"