Greed raises its ugly head when individuals and groups (such as corporations or retirement funds) seek an unrealistic gain at the expense of others and then use illegitimate means to gain what they want.  Given the nature of this fallen world and the reality of human sinfulness, we should expect that greed will be a constant temptation.  Greed will entice the rich to oppress the poor, partners in transactions to lie to one another, and investors to take irrational risks.  All of these are evident in this current crisis.

Christians should think seriously about this economic crisis and ponder what it would mean to come to a Christian understanding of what it means to be participants in this economy.  As Adam Smith recognized, the economy is a moral reality.  Human beings actualize their moral selves in making economic choices and through participation in the economic system -- and we are all participants.

Indeed, one of the defining differences between the current crisis and the crisis of the 1920s and 1930s is that the vast majority of Americans are now, in effect, investors.  Our retirement accounts are, by and large, mingled with the investments of the titans of industry.  Through their pension funds, school teachers are investors right alongside Warren Buffet.  This was not the case in the run-up to the Great Depression.  We all want and need the stock market to do well, and the outcome of any market crisis effects both Bill Gates and the worker in the local medical clinic.

Christians should look at the economy as a test of our values.  The Bible values honest labor and dedicated workers, and so should we.  The Bible warns against dishonest business practices, and we must be watchful.  False valuations are, in effect, lies.  Dishonest accounting practices are just sophisticated forms of lying.  Insider information is a form of theft.

The Bible honors investment and thrift, and Christians must be wary of the impulse for short-term gains and pressure for instant profit.  Over the long-haul, the entire economy must prosper if the vast majority are to do well and realize a responsible gain.

Thus, the current crisis sheds light on what happens when things get out of control, when various pressures distort the proper operation of the markets, and when irrational valuations entice investors to make poor investments.  Dishonesty enters the picture at many levels, and the individual investor is too often left in the dark.

When these things happen the economy is threatened by a lack of trust, and trust is the most essential commodity of all when it comes to economic transactions.  Without trust, the entire system collapses.

The big debate in Washington is over the extent of government intervention.  Prudence would indicate that the less government intervention, the better.  Adam Smith was confident that a "hidden hand" within the economy would rectify excesses and punish bad actors.  I think he is basically right, but the government is, like it or not, one of the actors in this economic system.

The problem with letting the markets solve this problem and letting the "hidden hand" punish the bad actors and unwise decisions is that, in this situation, the small investor is crushed along with the tycoon.  Furthermore, the entire economy could face a crisis of confidence.

So watch the debates in Washington with interest and consider how a Christian should understand the economy and our economic lives.  The free market is not perfect, but capitalism has brought more wealth to more people than any other system.  It rewards investment, labor, and thrift and rises on innovation.  Better ideas and better products push out inferior ideas and inferior products.  Given the reality of human sin, we should not centralize economic control in the hands of the few, but distribute economic power to the many.  A free market economy distributes power to multitudes of workers, inventors, investors, and consumers.

No economy is perfect, but the American economy remains a marvel.  The present crisis is an opportunity to rethink some basic questions and restore trust.  There are no easy ways out of a crisis like this, and no painless solutions.  Yet, would you trade this system for any other?

This current crisis should also remind Christians that we are not called to be mere economic actors, but stewards.  Everything we are, everything we do, and everything we own truly belongs to God and is to be at the disposal of Kingdom purposes.  This world is not our home and our treasure is not found here.  We are to do all, invest all, own all, purchase all to the glory of God.

Finally, this current economic crisis just might help Christians to focus on another issue -- retirement.  Where in the Bible are we told to aspire to years and decades of leisure without labor?  There is nothing wrong with saving for what the world calls retirement.  Indeed, that is just good stewardship.  Furthermore, there is nothing wrong with workers enjoying the fruit of their labor.  But Christians should think of retirement as an opportunity to be redeployed for Kingdom service.

Today's crisis in the financial system should not be a threat to the long-term health and vitality of our economic system.  There is cause for concern, but no justification for panic.  Rather than hit the panic button, spend that energy thinking about how Christians should glorify God in our economic lives.  We should watch the developments and debates in Washington and New York with interest, but we should investigate our own hearts with even greater urgency.

In addition to being one of Salem’s nationally syndicated radio talk show hosts, R. Albert Mohler, Jr. is the president of The Southern Baptist Theological Seminary in Louisville, Kentucky and recognized as one of America’s leading theologians and cultural commentators. Contact Dr. Mohler at mail@albertmohler.com.