Joseph's Bail Out Package and Nationalization of Egyptian land

The Pharoah of Egypt who elevated Joseph to the highest position was also a generous individual as can be seen when he openly welcomed Joseph's father Jacob and his family. In addition, Pharoah gave Jacob's family the best land in Egypt to rear the livestock, even though in the last chapter we saw that sheperds are an abomination to Egyptians.

The skill of Joseph as an administrator and a businessman achieved its full potential in the way he managed the drought. Some may see it as profiteering, but Joseph had just taken advantage of the situation which God revealed and prepared him for. The famine was so bad that initially people sold their livestock for food, no doubt at a low price for their stock. In the following year when the famine persisted, the people had no choice but to sell their land back to Pharoah, managed by Joseph. This almost has similarities with the Global Financial Crisis and government bailouts. In affect, the Egyptian government was nationalising its land from private owners. In addition, the government provided the people with jobs by re-employing them to work in their own land.

By implementing the land buy-back bail-out scheme, Joseph had further increased Pharoah's power. No where is there suggestion that Joseph sought to gain power for himself. The scheme may seem morally wrong at first but i) the people were extremely thankful to Joseph that they can sell their land and also get employed and able to get food; ii) Joseph only required them to pay only 20% to Pharoah and they can keep the rest. There are not many corporations in the capitalist world that pay their employees 80% of the profit while retaining only 20% - this is extremely generous.

In summary, we see that during a natural disaster God used Joseph to implementing a life saving scheme which is generous to the people as well as prospering the leaders (Joseph and Pharoah) who administers righteously. Contrast this with the current Global Financial Crisis caused by human greed and the schemes implemented which are far from fair to the people in general.



Genesis 47

 1 Then Joseph went and told Pharaoh, and said, “My father and my brothers, their flocks and their herds and all that they possess, have come from the land of Canaan; and indeed they are in the land of Goshen.” 2 And he took five men from among his brothers and presented them to Pharaoh. 3 Then Pharaoh said to his brothers, “What is your occupation?”
And they said to Pharaoh, “Your servants are shepherds, both we and also our fathers.” 4 And they said to Pharaoh, “We have come to dwell in the land, because your servants have no pasture for their flocks, for the famine is severe in the land of Canaan. Now therefore, please let your servants dwell in the land of Goshen.”
5 Then Pharaoh spoke to Joseph, saying, “Your father and your brothers have come to you. 6 The land of Egypt is before you. Have your father and brothers dwell in the best of the land; let them dwell in the land of Goshen. And if you know any competent men among them, then make them chief herdsmen over my livestock.”
7 Then Joseph brought in his father Jacob and set him before Pharaoh; and Jacob blessed Pharaoh. 8 Pharaoh said to Jacob, “How old are you?”
9 And Jacob said to Pharaoh, “The days of the years of my pilgrimage are one hundred and thirty years; few and evil have been the days of the years of my life, and they have not attained to the days of the years of the life of my fathers in the days of their pilgrimage.” 10 So Jacob blessed Pharaoh, and went out from before Pharaoh.
11 And Joseph situated his father and his brothers, and gave them a possession in the land of Egypt, in the best of the land, in the land of Rameses, as Pharaoh had commanded. 12 Then Joseph provided his father, his brothers, and all his father’s household with bread, according to the number in their families.


Joseph Deals with the Famine
  
13 Now there was no bread in all the land; for the famine was very severe, so that the land of Egypt and the land of Canaan languished because of the famine. 14 And Joseph gathered up all the money that was found in the land of Egypt and in the land of Canaan, for the grain which they bought; and Joseph brought the money into Pharaoh’s house.
15 So when the money failed in the land of Egypt and in the land of Canaan, all the Egyptians came to Joseph and said, “Give us bread, for why should we die in your presence? For the money has failed.”
16 Then Joseph said, “Give your livestock, and I will give you bread for your livestock, if the money is gone.” 17 So they brought their livestock to Joseph, and Joseph gave them bread in exchange for the horses, the flocks, the cattle of the herds, and for the donkeys. Thus he fed them with bread in exchange for all their livestock that year.
18 When that year had ended, they came to him the next year and said to him, “We will not hide from my lord that our money is gone; my lord also has our herds of livestock. There is nothing left in the sight of my lord but our bodies and our lands. 19 Why should we die before your eyes, both we and our land? Buy us and our land for bread, and we and our land will be servants of Pharaoh; give us seed, that we may live and not die, that the land may not be desolate.”
20 Then Joseph bought all the land of Egypt for Pharaoh; for every man of the Egyptians sold his field, because the famine was severe upon them. So the land became Pharaoh’s. 21 And as for the people, he moved them into the cities,[a] from one end of the borders of Egypt to the other end. 22 Only the land of the priests he did not buy; for the priests had rations allotted to them by Pharaoh, and they ate their rations which Pharaoh gave them; therefore they did not sell their lands.
23 Then Joseph said to the people, “Indeed I have bought you and your land this day for Pharaoh. Look, here is seed for you, and you shall sow the land. 24 And it shall come to pass in the harvest that you shall give one-fifth to Pharaoh. Four-fifths shall be your own, as seed for the field and for your food, for those of your households and as food for your little ones.”
25 So they said, “You have saved our lives; let us find favor in the sight of my lord, and we will be Pharaoh’s servants.” 26 And Joseph made it a law over the land of Egypt to this day, that Pharaoh should have one-fifth, except for the land of the priests only, which did not become Pharaoh’s.


Joseph’s Vow to Jacob
  
27 So Israel dwelt in the land of Egypt, in the country of Goshen; and they had possessions there and grew and multiplied exceedingly. 28 And Jacob lived in the land of Egypt seventeen years. So the length of Jacob’s life was one hundred and forty-seven years. 29 When the time drew near that Israel must die, he called his son Joseph and said to him, “Now if I have found favor in your sight, please put your hand under my thigh, and deal kindly and truly with me. Please do not bury me in Egypt, 30 but let me lie with my fathers; you shall carry me out of Egypt and bury me in their burial place.”
And he said, “I will do as you have said.”
31 Then he said, “Swear to me.” And he swore to him. So Israel bowed himself on the head of the bed.