Discussion abounds as to the author of this psalm. Some attribute it to Solomon for it contains proverb-like verses (Spence-Jones, volume II, p 64-65, 2004). Others attribute it to David as a prayer for Solomon stating that Psalm 71 was a prayer of David for David in his old age and Psalm 72 is a prayer of David for Solomon in his early years (Henry, 1996). I will agree with Matthew Henry in that this is a prayer of David for Solomon, using verse 20 as a summation of Psalm 71 and Psalm 72 not as an end to the second book of the psalms. This psalm is considered an indirect messianic psalm in that it points to what a righteous king will accomplish.
Verse 1 sounds like David is praying for Solomon, But, NKJV makes it appear messianic (i.e., verse 7 states “His” not “his”). If David is praying for Solomon, he is indeed praying for his kingdom with messianic overtones for this is the prayer of all regents in Israel.
Verse 2 presents righteousness and justice being the guiding factor not equality of people as the United States does today. Verse 3 presents peace coming through righteousness, which includes justice. This would imply that righteousness produces a prosperous country, not equality. Righteousness and justice, including capital punishment and responsibility for behavior with appropriate consequences, produce hope and a future.
Verses 4, 12, and 14 demand that justice cares for the widow, the poor, and the oppressed resulting in a reverential fear for God (see verses 5, 11, and 13). This is not to be done by the state though, as is currently being pursued by the United States. It is to be pursued by the people of God. If the state occupies what the people are to do, the people will cease to do it, which is exemplified in this generation of people in the United States.
Verse 6 states when we pursue life the way God intended us to and seek to accomplish His work, righteousness will flourish (compare with verse 7). What evidence is there of this in the year 2012?
Verse 8 describes the physical boundaries of the nation of Israel as promised to Abraham (see 1 Kings 4.24).
The question for the United States and believers today is “Can we see God’s work in our life as a fulfillment of what Messiah would do?”
I saw this psalm as a reflection of Christ and what He did for us. He came and helped us and delivered us from our sins. He became our King and all nations and people are to bow down to Him and worship.