Tuesday 16 September 2008

Some Thoughts on the Economic Turmoil



As another massive investment bank goes bankrupt and rumours of a 1930s style global economic meltdown begin to increase, I suppose the really worrying aspect of it all is the social and political consequences. When times are good, people are obviously kinder. As long as people have a roof over their head and a bit of money and can feed themselves society does function. In these circumstances, liberal, parliamentary democracy flourishes, even if we think that half of the time, MPs are a bit naff and don't make the right decisions. The worst aspect of a global recession is not unemployment and economic gloom. The worst aspect is that things we took for granted such as a parliamentary democracy, liberty and civil rights suddenly come under threat.

When the proverbial hits the fan in the economy, people look for strong leadership. In Latin America, where there is often economic instability, the electorate sometimes are just relieved when a military dictatorship takes over and just recreates some semblence of order. If in the US and the UK the economy goes down the pan, perhaps the greatest danger will be within ourselves. We have experienced relative 'good times' for so long now that we easily forget about the conditions that led to the fascism of the 1930s and 40s. Both the US and UK Governments have been laying a bedrock of legislation aimed at eroding the civil liberties we have enjoyed for so long. For that reason and others the next couple of years will be a dangerous time.

As I said, the greatest threat to peace and stability, even in an economic downturn is within ourselves. At such times, as occurred in various countries in the 1930s, the temptation will be for us to look for a scapegoat. In the 1930s in Germany it was the Jews who faced the horrendous persecution of the Nazi regime. I'm no historian, but clearly Hitler inspired such loyalty and devotion that his ideology was given the blank cheque of the electorate and many of them collaborated with the execution of his murderous plan. Italy too, found their strong man in Mussolini and Spain sought General Franco.

History all too easily repeats itself. In Rome, when the Emperor Nero was facing the anger of his people as a fire swept though the streets, he cleverly blamed the early Christians and suddenly Christian men and women were being torched and thrown to the lions. It wasn't just because people were suspicious of the Christian religion. The conditions for a persecution were already there. The people needed to pin it on someone. They needed someone to blame for their misfortune.

I guess what I am saying is that even though we have so many years of history behind us, will we have learned the lessons if times get really hard? Will we remain in solidarity with each other, or will we look for a scapegoat? Will we stay true to our beliefs that we all have a common humanity or will society turn on the Jews, or the Christians, or the Poles or the Muslims? We now live in a multi-cultural society which prides itself on being such. For so long now, fascism and ethnic hatred have been rightly derided in this country as the scourges of peace and brotherhood that they are.

But if millions of people lose their savings and their livelihoods in the months to come, what hope will they have? If thousands of people lose their homes to repossession, what hope will they have? If the Government uses force to control the rising tide of popular opinion against it, what hope will we have? For us Catholics, and we believe, for all humanity our hope is only in Jesus Christ and His Church. We pray we shall not give in to hatred and emnity with our brothers and sisters should times get hard, for He has given us a new law, "Love one another." Whether we are rich or poor, we know that Love is the only way to serve God, even unto loving our enemies.

This is no longer a country which holds religion dear, even though there are many faith communities who live here. In the absence of faith in God, the temptation for all will be to put their faith in something else, a cause, a leader or an ideology. Yet that temptation will be there for all of us, religious or not. The temptation to give into hatred and lose sight of our values and our common humanity will be there for all of us, religious or not. If that were not true, countries which elected dictators in the recession of the 30s, such as Spain and Italy, which were and still are predominantly Catholic would never have done so. If that were not true, it would not happen so regularly in Latin America.

I hope and pray that not only will the economic troubles be mild, but that if they are not that the strength we are looking for when we are weak, is found in the 'love as strong as death.'

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