The stock market is down. Gas prices are up. Rents, food prices, and mortgage costs are spiking. Interest rates are continually on the rise. Crypto is crashing.
If that were not already enough, analysts fear rising inflation and the stock market’s bear market growl could signal global recession.
In the midst of economic turmoil, it might be tempting to flip past the religion page and turn straight to business, finance and market reports. But that would be to miss the many intersections between religion and the economy that will be relevant to these storylines in the months to come.
Here are just some of the stories you might discover: Buddhist monks protesting on Sri Lankan streets in the midst of unprecedented economic crisis. U.S. churches buying up medical debt to relieve the burden on low-income families. A Sikh gas station owner in Phoenix selling petrol at a discount. Financial experts considering Islamic finance as a potential strategic growth market in the midst of global upheaval.
And let’s not forget that according to a 2016 study, the so-called faith economy contributes around $1.2 trillion (USD) of socioeconomic value to the U.S. economy every single year. That is more than Google, Apple, Amazon combined!
As financial news continues to come hard and fast, portending potentially precarious times ahead, the latest edition of ReligionLink provides background, example stories and potential experts and resources to help you explore angles related to religion, the economy and global financial markets.