A BOOK proposing a new economic philosophy capable of bailing Nigeria and indeed the world out of the current global downturn was presented to the public in Lagos recently. Titled Global Joseph Project, the book written by Peter Alexander Egom is a 5-chapter work.

 It gives a Christian and Bible-compliant account of the market rules and procedures which any economy must observe in order to bring the integral human development of equable and sustainable social, physical, entrepreneurial and environmental well-being to each and everyone of its members.

Speaking at the presentation which took place at the Nigerian Institute of International Affairs, Lagos, chairman of the occasion, Monsignor Obiorah Ike recalled the philosophies of Karl Marx, Joseph Stalin and Adam Smith and compared them to the current economic state of the world which has witnessed the crumbling of capitalism and the collapse of stock market.

According to him, “the world can be better if its inhabitants decide to do, at their own competencies, what they are supposed to do”.

He hailed the author for taking a different approach to economics by introducing a different concept of economics which bothers on Christian ethics.

In his own remarks, the special guest of honour and the Secretary-General of Nigerian Supreme Council For Islamic Affairs, NSCIA, Dr. Lateef Adegbite, remarked that the greatest problem in economics is the exclusion of God.

According to him, the current economic system in the country has become an unruly horse destroying the nation and must be controlled, adding that the way to control it is through an economic system sanctioned by God which is similar to that proposed by the author.

Dr. Adegbite emphasized that an economy built on interest cannot survive, pointing out that the introduction of interest-free banks such as that being proposed by the Islamic Society will revolutionize banking in the country. He urged religious bodies to co-operate and restore religious primacy in Nigeria.
The author of the book, Mr. Peter Egom, while delivering a paper tilted Taming the Global Market Shrew of the Dual Economy and Center—Periphery Syndromes, pointed out that the book tells how and why the dual economy phenomenon arises in any developing economy and what must be done to eliminate it completely from any developing economy.

Mr. Egom remarked that he was inspired to find out why developing economies are marooned at the poor and price taking periphery of global markets, adding that what crossed his mind in 1976 on the issue was that the root-cause of the centre-periphery syndrome lies in the economic relations between the reserve currency nations of the West and the non-currency nations of the rest of the world is observed in the character of the money which currently underpins the global market.

He pointed out that Diachronic Trinitarian economics which he is championing has to do with interest free economics and a level ground market.

He linked the Trinitarian economics to the logo of the Adione Institute of Justice and Peace which is Islamo-Christian, stressing that the economic blueprint for the millennium rests on and is driven by Islamo-Christian interest-free equity money.

Mr. Egom remarked that the AIJP is God’s vehicle to the destiny and fulfillment of a new type of global banking establishment.

While reviewing the book, Prof. Bola Akinteriwa, representing Dr. Obadiah Mailafia noted that inflationary money is the bane of modern capitalism which has informed extortion, fraud and ecological degradation.

He remarked that in the not too long future, credible mechanisms will be put in place to repatriate looted funds back to Africa, pointing out that no nation is better placed than Nigeria to champion the rejuvenation of the continent.
The book was formally unveiled by Architect Martin Emeka, who prayed that the visions of the author will be realized.