As we continue to experience global economic problems, we are seeing leaders from various nations attempting different methods of economic reform in order to deal with the current market conditions.
We have seen the effects of the Great Depression in the 1920’s on the nations of the world. Many nations have suffered! Economists have declared that this was as a result of the US Market Conditions at that time that led to that kind of effect on the nations. Almost a century later we are hearing the same thing!
This should never be, because it means that after almost a hundred years in which to learn from their mistakes, the nations are still in the same position of dependency on one particular nation! It means that the nations have built their economic structure on the blueprint of another nation! Therefore, each nation must now have its own economic blueprint if it is to move forward at all and not be significantly or adversely affected by the fallout of any particular nation.
Many nations’ leaders have tried different economic theories for global recovery. They have tried Orthodox Classical Economics - monetarist, Austrian Economics and neo-Classical Theories which focus on the macro-economic effects of money supply or how central banking decisions lead to overinvestment. Now we hear of the Stimulus Package in the USA that other nations are copying in some form. Today in Jamaica, there is new talk of ‘Dollarization’.
All economic scholars should realize by now that all the methods they have used to correct the economic problems are merely artificial interferences.
Historical data and text books have become outdated, and the old ways of doing business are over! The economic model they should now be looking at is Biblical Economics Model which includes the principles developed by divinely inspired men such as Joseph, Nehemiah, Solomon, Ezra, King Hezekiah and King Josiah!
One thing is certain with this Economic Model called Biblical Economics – and it is that there is always a way out! The principles embedded in Biblical Economics disallow borrowing from international lenders. It also calls for the removal of a credit-based system and high interest rates, (Genesis 26). On the other hand, it promotes tax reduction during recession, pay cuts for politicians, bailouts for small businesses, reduction in interest rates, tax exemptions for religious and security personnel. It also allows for debt write-offs and restoration of foreclosed property to former owners. Increase in giving is one of its mandatory activities. Most importantly, it requires us to enquire of the Lord for causes and solutions! (II Samuel 21).
The Holy Bible tells us that, “… The secret of the Lord is with them that fear Him and He will show them His covenant.”
