The importance of trust…
Dear Friends,
There was an interesting discussion on Radio National this morning about the root cause of the present global economic crisis being a "drying up of trust". The reality is that our financial systems today, whether national or international, are fundamentally built on trust rather than underlying asset values as they were prior to the 1970s when the system was based on a gold standard. As one of the commentators said, "the system works because we trust that when someone pays us a dollar for something we have 'trust' that we can exchange that dollar with some other person in return for some thing else of equivalent value." Money has little intrinsic value in its own right. The coin, or piece of paper, or cheque, even a plastic card, derives its value from the "trust" we all invest in those things.
The discussion led me to thinking that our faith is also built on trust to a large extent. We "trust" in God, or we "trust" that our spiritual leaders really do know what they are taling about, or we "trust" that they have God's ear. Could we perhaps suggest that one of the reasons for the huge disenchantment of so many today is that we have lost trust in our spiritual leaders? Are we searching for some new individuals, or a new structure, whom we do feel we can trust? We have two commentaries for you today which both link into the foregoing idea...
Ian Elmer's commentary continues his exploration of St Paul. It's about the conflicts in the early Christian community and Ian links that to events that we see unfolding even here in Australia today. How does any community set boundaries? How do leaders inspire, or cultivate, trust between the various individuals and factions that make up a community? <Link to Ian's commentary>
The second commentary is from Ted Schmidt, editor of New Catholic Times, Canada. Ted is looking at the global economic crisis and he suggests that Catholic social teaching might have something to teach the world as our leaders search for solutions to the situation that has emerged. With further bad economic news from Great Britain overnight, it is now absolute that this is the greatest financial crisis since the 1930s and leaders are now talking in terms of needing another Bretton Woods type agreement to restore trust and confidence in the system. <Link to Ted's commentary>
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