-S. Sam Christopher Oswin

Since a year ago,(This article is written in,2009) horror and anxiety has spread around the globe as the world economy has experienced a severe quaking. Stock markets have tumbled, companies and banks have failed and millions of jobs have been lost. It seems, life may never return to normal, with 6 lakhs people joining the job-loss line every month in America. Nobody can predict exactly what the world’s economy will do in the future, but we do know that God is in control of every thing. Only God knows exactly when and where the present economic downturn will end up. The present economic slowdown may be another indication of events yet to unfold at a later period. The Bible forecasts about one ultimate economic catastrophe when the Great city of Babylon, which many Bible scholars believe is characteristic of the global financial order, will completely crumple. (Revelation 18: 11-13). Very recently, as leaders of the world’s biggest economies gathered in central Italy for a summit,Pope Benedict XVI called for a new world political authority that can manage the global economy as his predecessor John XXIII indicated some years ago.May be it is the beginning of the end-times which will lead to a one global currency and one global government, and the advent of Anti Christ. Let us examine this topic further in the light of the word of God with the use of the acronyms of the 9-lettered word, R-E-C-E-S-S-I-O-N.

Recklessness

Economic recklessness which means lack of thoughtfulness in economic management is an awful manifestation of the current world economic recession. Recklessness is manifested when a nation or an individual or an organization thoughtlessly and faultily manages the economy unaware of the negative consequences. What must have led to the current economic crisis? It is due to the reckless economic activity which relied on unbridled passion for cheap money. Alas! The end was like what happened to that foolish builder who built his house on sand- the rain came down, the streams rose and winds blew and beat against that house, and it fell with a great crash.( Mt:7:26-27) This can be illustrated by the summary of an article in the Washington Post (Sept. 18, 2008) which provided an outline of the USA’s complex financial crisis: What was really going on in the most of the past one decade was that the United States was in the process of being forced by its foreign creditors to begin living within its means. Foreigners seemed only too willing to provide U.S -households, Corporations and governments, all the cheap money they wanted and Americans were only too happy to take them up on their offer…Two important things happened as a result of the availability of all this cheap credit. The first was that the price of residential and commercial real estate, corporate takeover targets and stock markets began to rise. The faster they rose, the more those investors were interested in buying; driving the prices even higher…Secondly, all of a sudden, in early, 2007, and foreigners began to lose their passion for financing much of this activity. In response at that point the interest rate on those loans should have increased, claim for borrowing should have decreased, the price of real estate and corporate stocks should have decreased, and companies should have slowed down on takeover activity and cut back on expansion. By and large that did not happen… As a result, the inevitable crash finally came…” The Bible says: A fool is hotheaded and reckless (Pro: 14:16.) No God’s child can serve two masters, either he will hate one and love the other or he will be devoted to the one and despise the other. You cannot serve both God and Money (Mt 6:24); the pagans run after all these things (Mt.6:32).   Christ’s solution for such recklessness is to repent and seek first God’s kingdom and His righteousness and then be blessed with all these things (Mt. 6: 32-33). Repentance from economic recklessness and turning to God is the need of the hour for those nations and individuals who are currently entangled by the economic mess that they inflicted upon themselves.

Extravagance

   Economic extravagance which means over-spending is another bad sign of the current economic distress. This can be best illustrated by the parable of the lost son who set off for a distant country and there squandered his wealth in wild living. After he had spent every thing there was severe famine in that whole country and he began to be in need (Lk.15: 13-16). God’s plan for God’s children is that they should work according to their ability, gain, invest, save and give to the needy. That is what we learn from the parable of talents (Mt.25:15). It is believed that the two things that got America and other countries into their present economic meltdown were over-spending and excessive debt. They are now attempting to get their way out of this muddle by spending more and taking on board even more debt. Some Christian Economic Advisors opine that those government’s (of affected countries including US) current action of printing and borrowing more money in a bid to get out the current crisis is doomed to failure, increasing the money supply ( inflation)at a rate never before seen in the history of the world. We need to also realize our own individual accountability and faults. Many believers even though they work hard pursue a lifestyle far beyond their needs and means. Statistics show that the average worker in China is able to save 30% of his or her wages, while in America and several other countries the average saving rate has plummeted to zero. We believers need to learn a lesson of economics from the ants which are creatures of little strength yet they are extremely wise and store up their food in the summer (Pro.30:25). Macedonian believers are really role model for us. They excelled in rich generosity and pleaded for the privilege of sharing in the service to the needy in spite of their poverty (2Co8:1-4).Repentance from extravagance is a solution for the current economic woes.

Craving

Economic craving or Economic greed, in other words, love of money is yet another peril which characterizes the current economic crisis. Psychologist Erich cautioned: Greed is a bottomless pit which exhausts the person in an endless effort to satisfy the need without ever reaching satisfaction. A greedy man brings trouble to himself and to his family (Pro.15:27). Similarly, a greedy nation can bring economic troubles to its citizens. This can be best described in the words of Rachel Marsden: “The economic crisis is currently being exacerbated by endless meddling – like when you pluck your eyebrows and it comes out uneven, so you just keep plucking and evening them out until you have nothing left…” Jesus warned about unbridled greed- the lust for money: watch out be on your guard against all kinds of greed; a man’s life does not consist in the abundance of possessions (Lk. 12:15). Paul reminds Timothy: Godliness with contentment is great gain. For we brought nothing into the world and we can take nothing out of it. But if we have food and clothing, we will be content with that (I Ti.6-8). He exhorted: People who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge men into ruin and destruction. For the love of money is a root of all kinds of evil. Some people, eager for money have wandered from the faith and pierced themselves with many griefs. But you man of God, flee from all this and pursue righteousness, godliness, faith, love, endurance and gentleness (I Ti.9-11). Repentance from economic craving or greed can bring economic healing to an economically affected individual or nation.

Exploitation

Economic exploitation of the poor is a disadvantage which adds to the woes of the current world economic distress. The word “economics” is derived from the combina­tion of two Greek words.  Oikos means household and nomos is the word, or the law.  Oikonomos, or economics, can therefore be understood as “the law or the management of the house­hold. The imagery of the household is given in the Bible.  The word “household” appears in both the Old and New Testament. In the New Testament, the “household” is vastly extended to include all people including the poor.  This definition stresses the need to be concerned for the welfare of the poor among us. Paula Clifford, says, What we are now seeing worldwide is that it’s poor people who are suffering most from a crisis that’s not of their making. He opined: Inadequate global financial regulation and a lack of transparency are the two elements that have long been instrumental in keeping poor people poor in the developing world. Lax tax regulation that enables transnational corporations to avoid tax in the countries where they work and lack of transparency that surrounds international tax havens have together deprived many developing countries of the revenue that would have enabled them to climb out of poverty without recourse to international aid. When transnational companies extract the mineral resources of developing countries and avoid paying a proper amount of tax, we see that poor countries are having their assets stolen from them” The Bible warns: Do not exploit the poor because they are poor and do not crush the needy in court. For the Lord will take up their case and will plunder those who plunder them (Pro.22:22-23). Repentance from economic exploitation of the poor enables the richer to enjoy God’s mercy and economic recovery.

Selfishness:

Economic selfishness is a snare which has entangled the people in the dismal state of the current economic disorder. James exhorted: If you harbour selfish ambition in your hearts, do not boast about it or deny the truth. Such wisdom does not come on from heaven but is earthly, unspiritual, of the devil. For where you have …selfish ambition, there you find disorder and every evil practice (Jas 3:14-16).God’s plan for His people is that they should do nothing out of selfish ambition.(Php.2:3). What Seth Barnes said reveals the selfish ambition of the people particularly in the west: We need to begin by recognizing that we have placed far too great a value for making money in the west. Many of us have chosen a different path – a lifestyle that puts us in bondage to this crashing economic system of ours.  We find ourselves beholden to forces beyond our control.  We end up caught in a cycle of worry because we’ve forsaken our first love, pursuing selfish careers instead of seeking first the kingdom. Please understand, I’m not condemning anyone here. But what I am saying is that the economic downturn may be God graciously offering us a fresh opportunity to reassess our priorities. And perhaps even graciously forcing us to go through a season of purging.  We need to rediscover what real needs are” .Paul warned: For those who are self-seeking… there will be wrath and anger. There will be trouble and distress … (Roman 2:8, 9). The psalmist earnestly prayed for God’s protection against selfishness: Turn my heart toward your statutes and not toward selfish gain (Ps.119:36). We need to repent from selfish ambition in order to be blessed with the economic wisdom that comes from heaven.

Stewardship:

Lack of stewardship is another pitfall which is manifested by the current economic jolt. What Garrett Glende said is quite pertinent to understand this: In order to develop a biblical attitude toward the current state of the economy, it is necessary to look to scripture to see how God has told us to handle our finances and the rest of our possessions. First we must realize that what we have is truly not our own. Everything that is ours has been given to us by the grace of God. Paul reminds the Corinthians,’ for who regards you as superior? What do you have that you did not receive? And if you did not receive it, why do you boast as if you had not received it?(1 Corinthians 4:7). We need to recognize that our belongings are God’s and it needs to show through in our actions. Also, we should guard ourselves from any temptation to covet money and material things. The believer’s first affection is Christ. When we place money and wealth above all else, we have fallen into idolatry and have dethroned Christ as Lord in our hearts. Jesus warns us that you cannot serve God and money (Mat. 6:24). It is easy for the man who pursues riches to become blinded by his quest for worldly possessions that he forgets what is most important, ruining his soul in the process. We must store up heavenly treasures, for our treasures are in the the same place as our hearts (Mat. 6:19-21). With this in mind, the Christian believers must show stewardship and also work hard to provide a healthy life for his family, doing all to the glory of God.

Injustice:

Economic injustice pressed upon the underprivileged is an ugly negative consequence of the current economic meltdown. This aspect of economic slump is best described by the author of the book, “Do Justice: Linking Christian Faith and Modern Economic life” The following is the excerpt from the book: Throughout the Bible, God manifests a deep concern for economic justice and economic well-being among God’s people.  The formative event of the Old Testament is God’s liberation of slaves from Egypt.  While this is a spiritual event, resulting in a covenant of faithfulness between God and the Chosen People, it is also a political and an economic event.  God leads the Israelites out of the oppressive household of Pharaoh, out of slavery and into freedom, establishing a new household and a new economic system.  God cares for the physical needs of the Israelites, providing manna in the desert.  God gives the Law, which not only teaches the proper forms of worship, but also sets out an economic and political framework for the Israelites to live by, designed to assure a just distribution of resources. The Law of the Old Testament explicitly protects the rights of the least powerful and neediest in the household of the Israelites.  These include the poor, the stranger, the sojourner, the widow, and the orphan.  God’s people are directed to tend to the needs of these most marginalized groups and to be sure that they receive their just share of the community’s resources [Deuteronomy 10:17-18].  There is to be a regular redistribution of property and the forgiveness of past debts [Leviticus 25:1-55; Deuteronomy 15:1-11].  It is clear that God demands that a faithful people order both their spiritual and their material lives in ways that are pleasing to God. This emphasis on economic and social justice as well as spiritual faithfulness recurs again throughout the prophecies of the Old Testament.  Isaiah speaks of economic prosperity and peace as an integral part of God’s desire for Israel.  Amos, Jeremiah, and Micah denounce the political and economic injustices within Israel as well as its spiritual practices. Jesus’ ministry continues this theme.  Jesus talks as much about economics in his teachings as he does about spiritual life.  Many of the Gospel stories are both metaphors for spiritual lessons as well as direct lessons in economic decision-making. Jesus not only feeds the souls of his followers, but also literally feeds their bodies with loaves and fishes [Mark 6:35-44; Mark 8:1-10].  Jesus emphasizes that the hungry shall be fed in God’s kingdom [Luke 6:21] and feeding the hungry here on earth is a way to do God’s will [Matthew 25:31-45].  He castigates those who focus on material possessions as the primary aim in life, and who do not share their wealth with others.  His story contrasting the behavior of the rich with the widow who quietly gives from her meager resources to help the poor [Mark 12:41-44; Luke 21:1-4] remains a compelling indictment of the selfishness and injustice exhibited by those who have too much and give too little. What we need to do now is to address the injustice being done to the poor, by speeding up the economic help that they need and, putting in place effective financial regulation that will help them develop independently and sustainable in the future.

Oppression

Economic oppression is yet another danger imposed by the economic malpractices which surround the current economic crash. Paula Clifford observes: We need to articulate a relational theology- where human beings enjoy a privileged relationship of oneness in God the Father and in Jesus Christ (Jn.17) and in turn therefore are bound to be in a right relationship with one another in Christ. So our calling to love God and love our neighbour is reflected in our just relationship with one another. And from these relationships there flow what we know as human rights: the right of the other to life, the right to a home, to health and so on and so forth. Where these relationships go wrong-where we fail to see Jesus in the face of poor, where we seek to dominate one another, where systems of community and state are cruel and repressive-that is oppression. Jesus’ life embodies God’s particular concern for the poor.  Through Jesus, God becomes one with the poor, and lives in suffering love with their pain and oppression.  In Luke, Jesus begins his ministry with the announcement that he has been appointed to preach the good news to the poor, to proclaim liberty to the captives, and to set at liberty the oppressed [Luke 4:18].  The identification of God with the poor is nowhere better expressed than in Jesus’ words, I tell you the truth, whatever you did for one of the least of these brothers of mine, you did for me [Matthew 25:40].” Our covenant with God binds all of us within God’s care and concern.  But events throughout the Bible emphasize that God has a particular concern for the poor and the oppressed.  As people who seek to do God’s will, we too are called to give special attention to the well-being of the poor and the oppressed. Jesus Christ came so that “they may have life, and have it to the full [John 10:10].”  Full life or abundant life for the Christian believer surely has a spiritual context; abundant life cannot occur for an individual who feels separated from God’s love and mercy.  But abundant life is not solely spiritual.  To live abundantly one must first have access to the necessities of physical life. In short, abundant life requires the effective functioning of the entire global community.  To follow Jesus and to preach the Good News is to be concerned with all aspects of our community life together- physical, spiritual, intellectual, moral and social.

Nepotism

Economic nepotism or Economic discrimination is the bleak indicator which portrays the appalling state of the current economic recession. Let me draw your attention to what the author of the book, “Do Justice: Linking Christian Faith and Modern Economic life” wrote on the prevailing economic discrimination: Poverty does not occur randomly.  There reasons why some groups are disproportionately poor and other groups are disproportionately well-off.  Discrimination in jobs, education, and economic opportunities has affected members of racial and ethnic minorities, women, older workers, and among others. Racism in America may be the most pervasive and destructive social problem that this society has faced and still faces.  The human slavery of the early decades of this country’s history evolved into a form of economic slavery in the years following the Civil War, when African Americans were given little chance of economic advancement and no political voice.  The Civil Rights movement of the 1960s brought enormous political and economic change for African Americans, including vastly expanded access to educational institutions, a changing mix of job opportunities, new avenues of political participation, and the growth of a middle-class African American population.  But at the beginning of the 1990s, this progress remains strikingly incomplete. Poverty rates among African Americans are three times higher than among white Americans; unemployment rates are close to twice as high.  Even among the non-poor, African American families earn less, have less wealth, receive less education, and have poorer health.  While wage rates among African American men steadily increased relative to white men for almost two decades, since 1980 this progress has stopped and even gone backwards slightly. Recent layoffs and loss of jobs in the U.S. manufacturing sector, which has historically employed a disproportionately large share of African Americans, have hit African American families particularly hard.  African American men who work full time earn less than three-fourths of that earned by white men. Even among middle-income persons, there is still often wariness across racial lines.  A rising number of hostile racial incidents have occurred on the streets and campuses of this country.  Efforts to rescind civil rights legislation at the national level give African Americans the sense that their progress is still tenuous.  African American professionals tell painful stories of being excluded from the social networks of their office or treated with uncomfortable unease.  In the words of the recent Committee on the Status of Black Americans, “The status of black Americans today can be characterized as a glass that is half full–if measured by progress since 1939–or as a glass that is half empty–if measured by the persisting disparities between black and white Americans since the early 1970s. The Bible warns discrimination or favouritism in strongest possible terms: If you really keep the Royal law found in the Scripture, “Love your neighbour as yourself, you are doing right. But if you show favoritism, you sin and are convicted by the law as lawbreakers (Jas.2:8-9)