John D Manwell's Blog

The Bank of England is considering negative interest rates. The UK’s credit rating has slipped. Surely this is further evidence that the banking system is broken and that the government has run out of levers to pull to stimulate the economy? The government has bailed out the banks, and now wants the banks to bail out the government! Maybe now is the time to start to think about the real issues and the real solution.

When Saint Paul wrote 2000 years ago about the triple qualities of ‘faith, hope and love’ he probably was not thinking about solutions to a triple dip recession, but maybe there is an application right now?

There is plenty of cash in the world economy. The problem is that those with the cash are hesitating about investing. It is all about confidence in where the economy is going, and confidence is based on trust, which is really faith. Those with faith are the ones who are investing and starting new ventures.

The world is increasingly filled with insecurity about the future. People and economic markets, whether investors or consumer spending are depressed about the outlook. Those with hope are able to operate with a different kind of liberty and sense of vision. Those with a Biblical framework for understanding the world can see their own place and purpose without anxiety. The people of hope can give others hope. In a world awash with hopelessness, the currency of the future is hope.

We can have great confidence (faith) for the days we are in, and sure-footed steps for the future (hope) but all of this can only be held together if we have authentic relationships. Investors want to know the people they are investing in. Workers want to be treated as people with families and friends. Businesses need to be part of communities. Much of this has been lost in our age of ‘Corporate Social Responsibility’ replacing community. Investors and workers have lost touch with each other. Families seem disconnected from the stockholders. The glue we need to help us stick together is love. When we have meaningful relationships, trust seems to develop and our thinking is guided with hope.

The principles of faith, hope and love are timeless, and truly are at the heart of what our society and economy needs. More than the cheap alternatives of political correctness, diversity and equality.

Paul gave us profound wisdom:

Three things remain: Faith , hope and love. The greatest of these is love.

It really is time for those with faith, hope and love to step forward. All three are required at the same time.