Some principles apply in either Capitalism or Socialism.
1.“render unto Caesar” Mark 12:17
2. Romans 17:1 (obey authorities because they have been instituted by God)
3. All work should be done “unto the Lord.” Ephesians 6:7 ESV Rendering service … as to the Lord and not to man,
The following principles, commands, comments seem to be applicable in a Capitalistic system but not in a Socialist system. One must be able to buy and sell, make money beyond what he needs, make choices about his vocation, investments, charitable giving and his motivation toward his work – how hard and how long.
1. A person should be able to have assets beyond his own need in order to help others. Proverbs 28:8; Ephesians 4:28 Proverbs 28:8, “Whoever multiplies his wealth by interest and profit gathers it for him who is generous to the poor.” Ephesians 4:28 ESV “Let the thief no longer steal, but rather let him labor, doing honest work with his own hands, so that he may have something to share with anyone in need. 1 Timothy 5:4-8 ESV . But if anyone does not provide for his relatives, and especially for members of his household, he has denied the faith and is worse than an unbeliever.
2. One’s attitude toward riches is what get him in trouble, not the fact that he has riches. Luke 12:15-22 (rich man who planned to build more storehouses); Mark 10:17-22 (Jesus told him to sell his possessions)
3. Some have more ability to earn money than others because of their God given talents and skills. But God rewards according to a person’s ability. Matthew 25:15+ the Parable of the Talents. I Corinthians 3:8 ESV “He who plants and he who waters are one, and each will receive his wages according to his labor.
4. I don’t like the parable in which everybody received the same wages for the day no matter about the number of hours they worked. Matthew 20:1-34 But it does show that workers could choose to take the job or not. 😀
5. Property rights to own and sell. Matthew 13:44 (treasure in the field)
I gave reasons “Why I am not a Socialist” in the following link. It could also be seen as “Why I am a Capitalist” I’m not going to repeat, but here is the link /https://onetahayes.com/2018/09/13/socialism-is-not-charity-part-1/