Reading a blog by Shekhar Kapur "Why the G20 will fail", I couldn't agree more with him.
http://www.shekharkapur.com/blog/archives/2009/03/_the_g_20_talks.htm,
My thoughts on this are that when the economy recovers in 2 years, will people remember this recession or the lesson from it? They will again start chasing money, wealth and riches at the cost of personal development and improvement of community, environment, etc. The cycle of recession will repeat itself in 7-10 years as it has done in the past.
There is a general lack of Collective wisdom out there. That is why the wise are so rare while fools abound. Not that I am claiming to be wise but the fact remains that vast majority of us measure success in terms of wealth. That is what the whole world is all about - isn't it? Whether free trade or G20 or anything. Even when GreenTech or CleanTech is hot these days, the lines are divided between the true believers and the big corporates. The corporates want to make huge money out of the Wind Energy movement - thats all there is to it.
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4 comments:
hey nick, quite agree with the need for wisdom from the current recession, but don't quite agree with your idea about measuring success. each business enterprise basic intention is to create profit, which is in turn measurable. what other means would you suggest to measure business success. this is one classic example of all roads lead to Rome. whilst there is a need for collective wisdom, my thoughts are ...there is a need for change, which is drastic in the basic mindset, wherein debt is seen as a bad thing and system of credit must be abolished and dealings in stocks and bonds must be eradicated because all these are based on future stipulations, which is an equivalent to gambling, whereas businesses must strive to create wealth
Alex: Much appreciate your reading my blog and commenting. I was trying to be emphasize the importance of other aspects of life enrichment rather than a uni-dimensional approach of measuring success - wealth. I agree that profits are the ultimate goal of any business but I believe that the future is about sustainability. Sustainable growth which creates employment and wealth without the greed of chasing ridiculous growth objectives which end up wrecking lives, businesses, people etc.. I am not sure if doing away with stocks, bonds and credit cards will solve the problem. It will take a change in mindset and the collective consciousness of people to make the change....
Very true and relevant.
Well...some changes do happen.Like the morphing of the G-7 into the G-20.The shift of the centre of gravity from the West to India/China, the replacement of the yen carry tyrade witht he dollar carry trade.etc please check y blog Sagnik..www.economicinsight.blogspot.com. Hope my picture rings a bell. I had seen you as a kid.
Venkatesh Rao
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