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So it is that the laws most binding us as a people are laws of the spirit—proclaimed in church and synagogue and mosque. These are the laws that truly declare the eternal equality of all men, of all races, before the man-made laws of our land. And we are profoundly aware that—in the world—we can claim the trust of hundreds of millions of people, across Africa and Asia—only as we ourselves hold high the banner of justice for all.

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No scientific law applies when its prerequisite conditions do not occur. Since the administration of scarce resources is influenced by social organisation and institutions, such organisation and institutions are among the conditions implied in economic laws. Consequently, economic laws which hold under one type of social organisation may fail to do so under another type. Most economic laws are thus "limited historically" to certain given types of social organisation and institutions. This, however, does not imply any basic difference between the laws of economics (or of other social sciences) and the laws of the natural sciences. The latter, too, are contingent upon conditions which are subject to change. Different laws of the natural sciences have different degrees of historic permanence, usually a much higher one than the laws of economics, though even this is not always the case (some laws of meteorology are less permanent than some laws of economics). The differences is but one of degree. Like all scientific laws, economic laws are established in order to make successful prediction of the outcome of human actions.

The laws of economics are subject to the laws of physics. The physical processes that govern this planet and the continued life upon it place as stringent an upper limit on economic growth as the speed of light does on our knowledge of the universe.

Industry rests on the iron law of economic determination. All history reveals that economic interests are the strongest ties that bind men together. That is not because men's hearts are evil & selfish. It is only a result of the inexorable law of life. The desire to live is the basic principle that compels men & women to seek a more suitable environment, so that they may live better & more happily.

Nor are the general laws of economics "institutional." They work in an institutional setting, and upon institutional material; institutions supply much of their content and furnish the machinery by which they work themselves out, more or less quickly and completely, in different actual situations. Institutions may determine the alternatives of choice and fix the limits of freedom of choice, but the general laws of choice among competing motives or goods are not institutional unless rational thinking and an objective world are institutions, an interpretation which would make the term meaningless. Economic activity consists in the use of certain resources by certain processes, to produce "wealth." The content of the concept wealth is largely institutional, and the resources available and processes known and used at any place and time for producing wealth are in a sense historical products; but there are general laws of production and consumption which hold good whatever specific things are thought of as wealth and whatever productive factors and processes in use.

A universal law of economics says the moment something becomes free and ubiquitous, its position in the economic equation suddenly inverts. When nighttime electrical lighting was new and scarce, it was the poor who burned common candles. Later, when electricity became easily accessible and practically free, our preference flipped and candles at dinner became a sign of luxury.

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Yahweh is Lord of all, even of economics. There is no hint here of a sacred law of supply and demand that operates independently of biblical ethics and the Lordship of Yahweh. The people of God should submit to God, and God demands economic justice among his people.

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The whole economic system of Capitalism is an offshoot of a devouring and overwhelming lust, of a kind that can hold sway only in a society that has deliberately renounced the Christian asceticism and turned away from Heaven to give itself over exclusively to earthly gratifications. ... It is the result of a secularization of economic life, and by it the hierarchical subordination of the material to the spiritual is inverted. The autonomy of economics has ended in their dominating the whole life of human societies: the worship of Mammon has become the determining force of the age. And the worst of it is that this undisguised “mammonism” is regarded as a very good thing, an attainment to the knowledge of truth and a release from illusions. Economic materialism formulates this to perfection when it brands the whole spiritual life of man as a deception and a dream.

As there are many to whom the beauty and harmony of economic laws are hidden, and to whom the inspiring thought of a social order in which there should be work for all, leisure for all, and abundance for all — in which all might be at least as true, as generous and as manful as they wish to be — is shut out by the deference paid to economic authorities who have as it were given bonds not to find that for which they profess to seek, so there are many to-day to whom any belief in the spiritual element, in the existence of God and in a future life, is darkened or destroyed, not so much by difficulties they themselves find, but by what they take to be the teachings of science.

Whosoever will save his life shall lose it: And whosoever will lose his life for my sake shall find it.’ [Matthew 16:25.]…He who is ‘The Way, the Truth and the Life’ [see John 14:6] has herein set forth an immutable law. …Specifically stated, this law is, ‘We live our lives most completely when we strive to make the world better and happier.’ The law of pure nature, survival of the fittest, is self-preservation at the sacrifice of all else; but in contrast to this the law of true spiritual life is, deny self for the good of others. …

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