What does Genesis 41:34 mean?
ESV: Let Pharaoh proceed to appoint overseers over the land and take one-fifth of the produce of the land of Egypt during the seven plentiful years.
NIV: Let Pharaoh appoint commissioners over the land to take a fifth of the harvest of Egypt during the seven years of abundance.
NASB: Let Pharaoh take action to appoint overseers in charge of the land, and let him take a fifth of the produce of the land of Egypt as a tax in the seven years of abundance.
CSB: Let Pharaoh do this: Let him appoint overseers over the land and take a fifth of the harvest of the land of Egypt during the seven years of abundance.
NLT: Then Pharaoh should appoint supervisors over the land and let them collect one-fifth of all the crops during the seven good years.
KJV: Let Pharaoh do this, and let him appoint officers over the land, and take up the fifth part of the land of Egypt in the seven plenteous years.
NKJV: Let Pharaoh do this, and let him appoint officers over the land, to collect one-fifth of the produce of the land of Egypt in the seven plentiful years.
Verse Commentary:
Joseph has revealed the meaning of Pharaoh's dreams (Genesis 41:28–32) and is now going beyond that. Despite not being asked for such advice, that we know of, this imprisoned slave (Genesis 41:14–16) is now telling the king of all Egypt how to manage the nation. He has advised Pharaoh to select a wise and discerning man and to give him the political authority to manage the coming famine (Genesis 41:33). For anyone to presume to tell the absolute dictator of a nation how to rule was a risky move. Yet Joseph seems confident that this is the message God wants him to speak.

Further, Joseph proposes a group of specially empowered overseers to work under that leader. Together, they should impose a tax on crops grown during the abundant seven years. These years will be immediately followed by seven years of harsh famine. According to Joseph, these administrators should require a full twenty percent of every crop to be given to the Egyptian government during those first bountiful seven years.

Further details about Joseph's plan come in the next verses (Genesis 41:35–36).
Verse Context:
Genesis 41:9–36 contains Joseph's explanation of Pharaoh's visions. When Egypt's ruler is bothered by vivid dreams, his formerly jailed cupbearer remembers a young Hebrew. This is Joseph, who explained the cupbearer's dream in prison (Genesis 40:23). Joseph explains that Pharaoh's dreams point to seven years of abundance in Egypt followed by seven years of desperate famine. Joseph boldly proposes a plan to manage the coming crisis.
Chapter Summary:
Joseph's status in Genesis 41 begins as "forgotten Hebrew prison slave" and ends as "the second most powerful man in Egypt." The cupbearer from the previous chapter finally mentions Joseph two years later, when Pharaoh is troubled by dreams which wise men can't interpret. Joseph reveals the meaning of the dreams: seven years of abundance will be followed by seven years of great famine in the land. Pharaoh, recognizing that God's Spirit is with Joseph, makes him second in command over the entire nation and tasks him with preparing for the famine.
Chapter Context:
Joseph was sold into slavery by his own brothers (Genesis 37:24–28). He then excelled in his work for an Egyptian official, only to be falsely accused and imprisoned (Genesis 39:20). There, he accurately interpreted dreams for servants of the Egyptian ruler (Genesis 40:20–22). Unfortunately, the restored cupbearer failed to mention Joseph, leaving him in prison for two more years (Genesis 40:23). A series of disturbing dreams leads to Joseph's audience with Pharaoh. This, in turn, leads to Joseph becoming the second most powerful man in the nation. The following chapters emphasize Joseph's reunion with his family. Details about his administration of food during the famine are recorded in Genesis 47:13–26.
Book Summary:
The book of Genesis establishes fundamental truths about God. Among these are His role as the Creator, His holiness, His hatred of sin, His love for mankind, and His willingness to provide for our redemption. We learn not only where mankind has come from, but why the world is in its present form. The book also presents the establishment of Israel, God's chosen people. Many of the principles given in other parts of Scripture depend on the basic ideas presented here in the book of Genesis. Within the framework of the Bible, Genesis explains the bare-bones history of the universe leading up to the captivity of Israel in Egypt, setting the stage for the book of Exodus.
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