Business, competitive world became a co-operative world, corporate values, Crisis, economics, G20, greed, London Summit, macroeconomics, Prof Harkant Mankad, Quantitative easing, speical situation, spirituality, The Buddha, trust deficit, US Fed
Crisis unites, for how long? I was thinking about Quantitative Easing of Fed in the US. While thinking undoubtedly read G20 communique of 2009 e.g. London Summit here. A prologue about this communique. In 2008, US financial market collapsed. This resulted in domino effect across geographies. Every country, its financial system and thus citizen of the country were adversely affected. Do not ask me – what happened to those who were responsible for this collapse? Many of them made huge money and (almost) vanished! as – according to the books – they earned legitimately. Coming back to the point – otherwise a competitive world became a co-operative world. The mindset changed like this –
“…We will conduct all our economic policies cooperatively and responsibly with regard to the impact on other countries and will refrain from competitive…” (source – London Summit communique para 12).
I am forced to think – do we need crisis to unite the world and people?
The thought is in the mind because now, when things seem to be fine with the US economy or may be just because US Fed wants to reduce burden on its balance sheet they came up with a solution of QE and rest of the world feels US is renaging the agreement/communique.
I assume, we may go in another set of moderate crisis in coming time, we have not come out of the crisis completely. However, perhaps, this time world would have lesser belief on Govts, financial system and the cooperation as agreed by the leaders, economists and Financial Organizations.
The trust deficit we live in – or we will live in – requires special measure. A special situation demand a special solution. Since, I am more of an spiritual person I feel the solution is moving towards spirituality. This can be done two ways – bringing spiritual lessons in corporate life or making corporate values resonate, implemented and executed spiritual life. Signing a document does not solve problem in long term – we are seeing that happen through tapering of quantitative easing by USA.
Disclaimer – Author doesn’t intent to criticize QE, author is of the opinion of looking at the basics of the problem – Greed. Author has written few blogs on Greed earlier here.