What Hope for Economic Recovery?
During the reign of Louis XVI of France, his queen, Marie Antoinette, reportedly once asked the royal finance minister: “What will you do about the deficit, Monsieur le Ministre?” His reply: “Nothing, Madame. It is too serious.”
ALTHOUGH times have changed, this particular philosophy still appears to be in vogue. Statesmen and economists alike lament the huge international debt, the grave economic imbalance between rich and poor countries, and the abject poverty in so many countries. But little if anything is done—the problems are too serious. Does this make economic sense?
The word “economics” comes from the Greek word oikonomos, which means a steward or house manager. World economics is basically the study of how the world’s “house” is managed. How is it being managed?
To illustrate, let us imagine the earth as a neighborhood, and the individual nations as neighbors. One of the wealthiest neighbors is a compulsive spender and owes money to nearly everyone, but as he is their best client, his creditors are reluctant to press for repayment. Some of the poorer families are so deeply in debt that they have to borrow money just to pay the high interest rates on their loans. Meanwhile, the father of the most destitute family in the area has just treated himself and his friends to a lavish celebration meal, although several of his children are starving.
The richer families eat very well and end up throwing a lot of food in the garbage can. They spend more on their pets than the poorer families can afford to spend on their children. From time to time they have neighborhood meetings to talk about all the problems in the area, but nothing seems to get done. Tension is growing between the rich families and the poor. Obviously, something is fundamentally wrong with the way this neighborhood is managed.
Someone to Manage the Global Economy
Good management cannot be divorced from morality. As we have seen, selfishness and greed on a national, corporate, and individual level contribute significantly to the cost-of-living crisis, especially in poorer countries. Economic injustice is really just one reflection of an unjust system of things.
Admittedly, there are no easy solutions. The problems are too immense to be tackled by one country, and no international body exists with the necessary power to deal with them. In addition, world leaders are criticized for lacking the political will to come to grips with them.
Nevertheless, history describes one ruler who was especially concerned about the plight of the economically downtrodden. He enacted specific laws to protect them and provide for them.
This ruler was the one who liberated the Israelites from Egypt some 3,500 years ago and who fed them miraculously with manna during their 40-year trek through the wilderness. This invisible king made sure that everyone had enough.—Exodus 16:18; compare 2 Corinthians 8:15.
Later, when the Israelites arrived in the Promised Land, God-given laws protected the needy. Interest-free loans were provided to those who had fallen on hard times. The poor could glean the fields, the orchards, and the vineyards. And the owners had to leave something for the gleaners. Furthermore, God commanded the wealthier Israelites to ‘open up their hand generously to the afflicted in the land.’—Deuteronomy 15:7-11.
God managed the household of Israel in such a way that all the nation could prosper, provided they obeyed his instructions. His representatives, such as King Solomon, were required to imitate God’s example. Regarding Solomon, the psalmist writes: “He will defend the poorest, he will save the children of those in need . . . He will free the poor man who calls to him, and those who need help, he will have pity on the poor and feeble, . . . their lives will be precious in his sight.”—Psalm 72:4, 12-14, The Jerusalem Bible.
Nevertheless, God later predicted in his Word that there would arise an acute cost-of-living crisis. Describing the harsh economic realities that would eventually plague mankind, the Bible foretold: “A whole day’s wage for a loaf of bread.” (Revelation 6:6, Weymouth, Fifth Edition) Today, this is precisely the situation for many of the world’s poor. A whole day’s income does not even cover the cost of a single meal.
A Real Economic Recovery in Sight
The only solution to this deplorable state of affairs was highlighted by Nobel prize winner Willy Brandt. He said: “There must be a growing realization that poor and rich countries . . . are tied together by their common interest in survival, and that solutions will only be achieved by adopting a farsighted and worldwide approach.”
That is precisely what God himself has in mind, a farsighted and worldwide approach. Unlike human rulers, God has both the will and the way to bring about a worldwide economic recovery.
In that same prophecy about economic hardship, he referred to the ruler that he has appointed, a ruler capable of remedying the situation. He is described as being seated upon a “white” horse and also as one who would ‘go forth conquering.’ This is none other than Jesus Christ, who will shortly ‘conquer’ in order to extend God’s Kingdom rule as the sole government over mankind. This Kingdom, in the hands of Jesus Christ, is God’s way of solving, among other things, the cost-of-living crisis.—Revelation 6:2; compare Daniel 2:44.
Under this Kingdom rule, referred to in Isaiah’s prophecy as “new heavens,” God promises: “They shall not toil in vain or raise children for misfortune.” “My servants shall eat . . . ; my servants shall drink . . . ; my servants shall rejoice.”—Isaiah 65:13, 14, 17, 23, The New English Bible.
Millions who today toil in vain can take heart from these words. In God’s new world, their children will not be deprived of basic needs due to the misfortune of economic hardship. Concern about the cost of living will be replaced by delight in the joy of living.
If you feel that such promises are just a Utopian dream, why not talk to Jehovah’s Witnesses the next time they visit you. They will be happy to show you from the Scriptures why we can trust in God’s solution to the cost-of-living crisis.
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In God’s new world, no one will be hungry or poor