The translations vary slightly on the first part of Proverbs 29:18. They say the same thing but slightly different. “Where there is no revelation” (NKJV), “Where there is no vision” (KJV, ASV, NASB), “Where there is no prophetic vision” (ESV). The meaning of the term here usually is connected to the means by which divine revelation is communicated. Hold that thought. The verse goes on to say that where this is lacking, “the people cast off restraint” (NKJV, ASV, ESV), “the people are unrestrained” (NASB), “the people perish” (KJV). The meaning of the term here indicates people who are out of control as they are allowed to run wild.
Put this together and think about the application. Where divine revelation (i.e., THE BIBLE) is not communicated (i.e., PREACHED FAITHFULLY), the result is catastrophic unrestraint among the people (i.e., UNGODLINESS).
Friends, look around today. What are we seeing? People casting off restraint! Why? Because God’s Word is lacking! Guess what our world needs right now?! Now, read the last part of the verse: “Happy is he who keeps the law!” Is that you?