What does Genesis 47:17 mean?
The land of Egypt and nearby Canaan is barren. It has been barren for several years, and the famine will last for several more. Earlier verses described the land using terms related to fainting and insanity (Genesis 47:13). Joseph, as Pharaoh's representative in Egypt, holds great stores of grain. These were built up through taxes (Genesis 41:33–36), then sold back to the people for cash (Genesis 41:55–57).Just two years into the seven-year disaster (Genesis 45:6), the people of the region have no more money to buy grain. They are still in danger of starvation. Joseph has suggested an alternative: trade livestock for food. It's not clear whether Joseph meant to literally hand over animals, physically, or simply consign their ownership to Pharaoh. This might have been a kind of mortgage or other arrangement.
Regardless of such details, the people comply. They don't have much choice since the alternative is starvation. So, the Egyptians and the Canaanites bring their horses, sheep, cows, and donkeys to Joseph. In whatever sense Joseph arranged, the ruler of Egypt now owned almost all the herded animals in Egypt and the surrounding region.
Genesis 47:13–26 describes how Joseph's plan for the famine made Egypt's king even more powerful and wealthy. In essence, Joseph sells grain taxed from the people back to them. When the people run out of money to pay for food from the storehouses, Joseph trades for their livestock, land, and even their freedom. Pharaoh comes to own nearly everything and everyone in Egypt, resulting in a standing 20 percent income tax on the people.
Genesis 47 begins with Pharaoh interviewing Joseph's brothers and father before granting their request to settle in the region of Goshen in Egypt. Just as Joseph had hoped, his family is secure. The rest of the people of Egypt and Canaan are not. Most run out of money and can no longer buy food from Joseph. On Pharaoh's behalf, Joseph trades food for their livestock and then their land and even their freedom. Nearly all people will be required to pay to Pharaoh 20 percent of their harvest each year from this time forward. After several years, Jacob asks Joseph to swear that he will bury Jacob's body with his fathers in Canaan.