Jacob (still sometimes being called Jacob and sometimes Israel which is extremely confusing) travels will all of this children and their families to Egypt and are allowed to settle and put up shop as shepherds. Naturally, Jacob is just a little excited to re reunited with his not-so-dead son :)
As the famine wears on, the people run out of money to buy grains. Joseph accepts livestock in exchange, but when the livestock runs out, he buys up all the land and doles out seeds to the people to plant their crops. The only stipulation is that one-fifth of all the produce must go back to Pharaoh.
On a side note. In my humble opinion, Socialism is a perfect system in theory. But in a fallen world, it doesn't always pan out. Joseph is insituting a Socialist run Egypt by maintaining all of the goods and doling them out as necessary. For this kind of situation, I think it's genius. God knew that the people would probably eat themselves to death if someone did not step in to take preventative measures to ensure their future. This is why He provided Joseph and gave him the means to make it happen.
17 Years later Jacob readies himself to die and makes Joseph promise him to bury in him in the land of his forefathers--not Egypt. Joseph promises.
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