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What Is Wrong with the World's Economies?

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Recessions, unemployment, mortgage defaults, bankruptcies, debt and poverty: these negative, economically-related terms appear in today’s headlines across the globe. Why? What’s wrong with the world’s economies?

An economy is about producing and consuming goods and services. There are plenty of goods and services available, and plenty of consumers with a world population at nearly seven billion. Yet, the world’s economies are stumbling and even teetering on the edge of collapse in some cases. And many people are without even basic necessities.

The world’s economies need to be fixed. Some say that to cure the economies we need more laws, more government intervention, more regulation, better fiscal controls and so on. Some say we need more economic stimulus—more spending. Others say the opposite, that we need less government interference, regulations and spending to let free enterprise reign.

Some blame business and manufacturing for the current state of economic affairs. Some blame government for stymieing business investment, risk taking and hiring. Some blame consumers for being fearful and not spending. What is the real cause of these economic problems and how can it be fixed?

There are definite reasons why we find so many problems in the global economy. There are basic economic laws and principles which, if followed, produce positive results. Unfortunately, these principles are not taught in the schools and colleges. Economic professors would likely scoff at these laws as naïve, unsophisticated and impractical.

These principles are in a book that, though a best seller, is largely ignored and rejected. But these are principles that work because the Creator has declared it to be so. The book is the Bible.

Unlike man’s laws, God’s laws are simple, broad principles. In fact, all of God’s laws are summed up in the two broad principles of love toward God and love toward neighbor (Matthew 22:34-40; Leviticus 19:18). God’s economic laws also apply to these broad principles.

Concerning love toward God, Christ said, “Render therefore to Caesar the things that are Caesar’s, and to God the things that are God’s” (Matthew 22:21). To render means to give, acknowledging the obligation.

What belongs to God? “And all the tithe of the land, whether of the seed of the land or of the fruit of the tree, is the Lord’s. It is holy to the Lord… And concerning the tithe of the herd or the flock, of whatever passes under the rod, the tenth one shall be holy to the Lord” (Leviticus 27:30, 32).

This principle is reiterated in Proverbs. “Honor the Lord with your possessions, and with the first fruits of all your increase; so your barns will be filled with plenty, and your vats will overflow with new wine” (Proverbs 3:9–10).

Christ said: “It is more blessed to give than to receive” (Acts 20:35). This reflects the law that says, “When you reap the harvest of your land, you shall not wholly reap the corners of your field, nor shall you gather the gleanings of your harvest” (Leviticus 19:9; 23:22). Also, “When you reap your harvest in your field, and forget a sheaf in the field, you shall not go back to get it; it shall be for the stranger, the fatherless, and the widow, that the Lord your God may bless you in all the work of your hands” (Deuteronomy 24:19).

There are other laws of God which, if followed, would fundamentally change the world’s economies. God gave laws concerning possessing land, resting the land once every seven years and the Jubilee year. God’s laws cover lending of money. “If you lend money to any of My people who are poor among you, you shall not be like a moneylender to him; you shall not charge him interest” (Exodus 22:25; Leviticus 25:36; Deuteronomy 23:19).

Man’s ways are not God’s ways. God’s better way is coming. Order your free copy of The World Ahead: What Will It Be Like? or read it online.