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Global Economics Through A Biblical Worldview

GLOBAL ECONOMICS FROM A BIBLICAL WORLDVIEW
by Doug Tjaden July 7, 2006

The comfort with which we as Americans have lived our lives is likely to end within this decade. Why? Simply put, it is the result of a convergence of global events that are just now beginning to manifest themselves in our country and the world at large. History tells us that there are definite cycles that our economy goes through. There are times when certain classes of investments are held in high esteem, while others are neglected for long periods of time. This is simply due to the sin nature of man. The old adage of markets being driven by greed and fear is true. The Bible tells us to neither be greedy (1 Tim 6:10) nor to be fearful (Matt 10:22-33). However when the world economic system is controlled by men who are not moored to a Biblical worldview, then greed and fear will drive our economy. The purpose of this essay is not to try to point out all of the historical examples that will support that assertion. There is plenty of information available elsewhere for that. Rather the intent of this essay is to provide the reader with an overview of what is likely to occur over the next 10 to 20 years based on the fact we live under an economic system that is driven by greed and fear. At the end of this essay I will provide a source which will support what I feel is the likely direction the economy will take. With that in mind, let’s get started. Economic Reality Careful review of economic history portends difficult economic times ahead. What are some of the signposts that point to this?  Debt levels of all areas in society are at record levels and are in fact higher than they were prior to the Great Depression. The growth of debt in our country has gone parabolic in the last decade. By any reasonable evaluation, this is unsustainable as evidenced by the graph at the right. The easy credit/low interest rate policies of the Federal Reserve are attempting to revive an economy that is tapped...