The world rejoices when there is high GDP growth, which means more value was added to the economy. But today, it is groaning over negative GDP growth. GDP is the sum total of all the value of goods and services produced in an economy. A healthy economy grows its GDP in order to support a growing number of people with ever increasing demand. A declining economy means unemployment and more poverty.
But is GDP growth the only measure of growth? Let us say for example, roads, bridges, airports, and infrastructures were built but they were overpriced by an average of 30%. The overprice that was counted as GDP did not represent any value at all. How about projects that turned out to be white elephants or ghost projects and ghost employees? How about the production of goods that destroy the environment that brings long term effects on general welfare and health? How about gambling, an activity that does not contribute any value, but instead subtracts. Then on the other side, how about positive things we do to add value to others and are not monetized? How about the things I do in order to grow my skill, stay healthy and productive so that I can add value to others? Or the things we do to encourage and build up others and teach them skills? How about building a family that values the things that matter? None of them are counted because they have no monetary value. Now that we are being brought back to the basic, what do we see as the real measure of value moving forward?
Governments print more money in order to arrest a plunging economy. This palliative measure to prevent bankruptcies creates distortions on the economy that over time, corrects itself in the form of cycles of boom and bust. We are in this world, and we have no choice but to operate in this kind of environment. To survive and even to thrive in this kind of economy, we have to understand that there is another economy that is operating that will prevail over time. God’s economy is not dependent on the world economy. It is founded on biblical principles and the faithfulness of God who owns everything and who has called us to be stewards.
The emerging world economic crisis should not cause undue strain on those who look up to God as their source of provision. The real economy actually lies on what God has already provided and that should be our assurance. Every person has the capacity to produce value. God created the earth and apportioned enough resources to every nation. It is up to its citizens to harness those resources to create value and add value to others. That process creates wealth. In that process, our reward comes from God.
No matter how much human pride and greed have caused disruptions on the economy, God’s design will remain reliable at any time. God did not command Adam to take dominion over man, as the world does to create wealth, but to take dominion over His resources, in other words, to manage and multiply them for the common good. Wealth is attracted to good management. God’s economy adds value to man.
For those who have to reboot and start all over again, or to shift or recalibrate, it is time to ask again, “what is in my hand?”. This is a question that entrepreneurs must ask themselves. It is in that small thing in your hand that God wants to do a miracle. It is in that thing in every person’s hand that God’s economy will begin to manifest, proving that biblical economy will prevail over the world’s economy. More than ever, it is clear that the economy is in the hands of His people who will create value at any time, whether during boom time or bust time.