This is what we found interesting from the current issue of the “The Economist” (May 19th – May 25th 2012).
We decided to take a break with our reflections on this newspaper for a few weeks. What made us resume this week is the cover page of this issue: ‘The endangered public company’. We, however, hope that the cover page for a future issue would be titled ’Endangered Humanity’. The newspaper will do a great service to us if it takes up this subject and warns us of the coming dangers. We have stopped evolving. To give an analogy: what we are doing is picking up fallen leaves shed by trees in Autumn and reattaching them to the trees that no longer have any use for them. New leaves can only grow when spring comes; this is Nature’s way.
The multiplying population of 9.5 billion (by the middle of this century) with its growth expectations of two cars per family and unlimited power consumption will need resources five times more than what the earth can provide. Growth needs more water, more food, more forests and little waste in order to sustain humanity.
What we need is a total change in our educational system, which could bring awareness for:
i. High enlightenment (f focus on wisdom rather than skills)
ii. High integrity (humility and courage)
iii. Low expectations
- “Mr. Hollande wants Germany’s remedy of austerity for troubled countries to be balanced by growth promoting measures.” (8)
- ’The endangered public company’: This essay discusses “corporate chiefs’ complaint that the combination of fussy regulators and demanding money managers make it impossible to focus on long term growth.” (11) The real issue ought to be sustainable growth.
- ‘The Greek run’: “Most of them want to ditch the hated austerity policies that they blame for their plight. Discipline and reforms are not familiar concepts in Greek politics.” (12)
- ‘The Brazil backlash’: “Domestic credit cannot go on increasing at today’s rate, as households are starting to struggle with debt. Most of the money goes on over generous pensions and wastefully on big government, rather than transfers to the poor.” (18)
- ‘Rebuffed on the Rhine’: “Some saw the NRW result as a revolt against Mrs. Merkel’s policy of austerity. The SPD leaders have launched a growth programmed convinced ‘ in a close accord’ with the new president Francoise Hollande. The policies of Mrs. Merkel and Nicholas Sarkozy, the defeated French president, have ‘failed across the board’”. (54)
- ‘The waterproof Mr. Hollande’: “Mr. Hollande was elected on a pledge to reduce the French debt to 3% in 2013, and increase the spending by 20 billion euro over five years. The European commission forecast 2013 deficit at 4.2% implying that extra 24 billion euros savings are needed. All of which suggest that waterproof president’s campaign promises may turn out less than the watertight.” (55)
- ‘North and south’: “Looser monetary conditions are thawing the property market after a long freeze. Consumers are spending more as higher pay settlements swell wage packets.” (55)
- ‘Charlemagne: Angela’s new partner’: “Now Mr. Hollande seeks different bargain. Instead of balancing European rules with the national prerogatives, he is more concerned to slow the pace of austerity. Where is the money for a growth package to come from? Europe, suggests Mr. Hollande, meaning that Germany must pay more.” (57)
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