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WORLD'S ECONOMIC
PROBLEMS
How They Will Be Solved
by
Donald D. Schroeder
The dreams of a future of stable peace and prosperity-for all- is achievable.
Today's unparalleled economic and human
crises will be solved! The Bible reveals precisely how.
T
HE WORLD'S
greatest
statesmen can't solve
it! The world's best
economists don't know t he
answers! Few persons even
grasp t he scope and com–
plexity of humanity's prob–
lems today!
How, then , could anyone be
so audacious as to give hope or
a positive answer to the wor–
sening and seemingly insoluble
economic, política! and social
problems now facing
every
n at ion - whether rich or
poor- on earth?
But the astounding truth is,
there is an excit ing and wonderful
a nswer! And it's sure!
Al arm ing Era Today
You live now in a totally new eraof
human experience. Nations all
around the world- rich technolog–
ical nat ions as well as poor develop–
ing nations- are plagued with
many similar and serious problems
that threaten their survival.
Almost every nation on earth is
now plagued with a spiraling
demand for , but scarcity of,
affordable
fuel and
affordable
food. Lacking are the resources
and money for the expansion of
their economies, for the security
and well-being of their people.
The end of cheap energy now is
June / July 1981
joi ned by the end of cheap food ,
by the end of cheap money, by
the end of cheap almost every–
thing.
And these shortages of afford–
able essential commodities of life
are happening despite record
incomes, despite record produc–
tion of manufactured goods and
services, despite record crops in
most nations.
How did it happen? T here is a
cause
why so many nations have
jumped the track!
Few understand just how great
today's economic problems are.
Or understand just how
great
the
solution to them must be!
Pivotal Ev ent
The sudden quadrupling of oil
prices in 1974 by Mideast oil pro–
ducers was a pivota! event in
world history. Do not misunder–
stand. This event is not the cause
of all economic ills today.
Mideast oil producers were
forced to dram atically raise
prices. They felt victimized by
decades of creeping, then spiral–
ing inflation for goods they had to
import from developed nations.
T hey understandably lost pa–
tience wben they continued to
receive low prices for their chief
income-producing and irreplace–
able resource- oil. Most oil
importing nations scarcely of–
fered a protest. They knew oil
had been priced unfairly low.
But this decision quickly su–
perintensified every problem
within and among nat ions.
Economically broad - based
technological nations-the indus–
trial world- were able to absorb
the first shock of quadrupled oil
prices. Now, seven years later, in
the new decade of the 1980s,
many of these powerful nations
are seriously weakened.
Third Wor ld D isaster
But in the less developed or non–
oil-producing nations (the nopecs).
serious economic tragedy is aiready
well advanced. These nations never
recovered from any of the oil price,
or other inflationary, shocks. Many
nations are walking on the very edge
of the precipice of total economic
disaster!
The non-oil-producing devel–
oping nations will have to spend
almost $200 billion a year on oil
imports by 1990 against $58 bil–
lion in 1980. Where will they get
the money? The governments of
many of t hese nat ions already
survive
only through massive
loans
from international and
commercial banks. But .develop–
ing nations are additionally hit.
Soaring inflation and recession in
much of the Western world has
slackened demand for many of
their resources and manufactured
goods. They are crippling the
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