NO.189 The Great Depression in an ultra-low interest rate environment. China, India and Islamic society.


2019. No one has ever experienced the Great Depression in an ultra-low interest rate environment. Who will stop?



Probably people outside Europe and America. This is because people in Christian society will be subject to great religious restrictions on solving the Great Depression in an ultra-low interest rate environment.
For example, people in Christian society may have great mental resistance to the Keynes policy. Many people interpret the Keynesian policy as violating the professional ethics of ascetic protestantism.
I think this depends on how the Christian interprets the Bible.

Both the global economic system and economics were born and grew up in Christian society.
I think that both the global economic system and economics have been subject to religious restrictions in Christianity.
The people of Christian society would have continued to solve many problems both in the global economic system and in economics.

And I think there are still problems that are difficult to solve because of religious restrictions.
The Great Depression is one of them.

Non-Christian people, such as those in China, India, and Islamic societies, learn economics born in Christian society.
And people outside the Christian community are free from the religious restrictions of Christianity.
People in China, India and Islamic society will be free from religious restrictions to implement the Keynesian policy. At least they have this advantage.
And we observe the Great Depression from a unique perspective different from those of Christian society.

I think there is potential for problem-solving innovation.

The people of Christian society have solved various problems until now. Entrust difficult-to-solve problems to non-Christian people because of Christian restrictions.


About Christian restrictions on the Great Depression.


See the following article for details.
Here is just an overview.

I think that those who do occupational work in Christian society strongly believe that the economy should be left to market freedom.
This is a religious ideology.

Ascetic Protestants interpret occupational work as God's command. If a person suits God's will, all the hardships will be solved by the phenomenon that follows the laws of heaven and earth.
I think that the ascetic Protestant believes in this planned harmony (Monad).

The world economy as of 2019 is inevitable to enter the Great Depression if it is completely left to market principles.
However, ascetic Protestants can only choose to leave the global economy to market principles entirely because of the current ideology.
However, ascetic protestants have the potential to modify ideology.



Countermeasures for Great Depression by people other than Christian society.

China


The purpose of China is to realize Belt and Road. 


China will rationally organize all actions for the realization of Belt and Road.
For this purpose, it will implement the necessary economic policies.
China will do this if it determines that the Keynes policy is effective in preventing the Great Depression.


Islamic society.


The construction of Dar al-Isram is an Islamic purpose.
I think there is a possibility that Muslims will take measures against the Great Depression such as the Keynes policy for the construction of Dar al-Isram.
However, it depends on how Muslims interpret the Quran and Islamic law.



India


I have no idea how India will deal with the Great Depression. However, I think there is a high possibility of implementing measures that I cannot imagine at this time.
Indian philosophy is regarded as one of the world's highest standards of thought. India is the country that created the intelligence that built the Indian philosophy. India created Buddhism.
Indians have the world's highest math skills.
India's outstanding intelligence will create a Great Depression.


Related article


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NO.094 The person saves the world economy from the Great Depression.




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