Globalize Yourself

Globalize Yourself

This era of globalization is not characterized by countries globalizing, it is not spearheaded by companies globalizing. Now what is really new, really unique, really exciting and really terrifying, is that this era of globalization is built around individuals. What is new, unique, terrifying and exciting about this era of globalization is the degree to which it empowers and enjoins, the degree to which it enables and requires individuals to globalize themselves and to think of themselves as potential connectors, collaborators and competitors with other individuals anywhere in the world.” –Thomas Friedman, in the above video, The 3 Eras of...
Understanding Crisis And Today’s Need To Shift To A Global, Interconnected And Integral World

Understanding Crisis And Today’s Need To Shift To A Global, Interconnected And Integral World

John Dupré, Professor of Philosophy of Science and Director, at the ESRC Center for Genomics in Society, University of Exeter writes the following in Project Syndicate: …The creationists are right about one thing: contrary to the impression given by much popular writing on the subject, the theory of evolution is in crisis. But this is a positive development, because it reflects the non-linear progress of scientific knowledge, characterized by what Thomas Kuhn described in his influential book The Structure of Scientific Revolutions as ‘paradigm shifts.’…” …Beyond undermining the gene-centered theories of evolution that have dominated public consciousness for several decades, these developments call for new philosophical frameworks. Traditional reductionist views of science, with their focus on “bottom-up” mechanisms, do not suffice in the quest to understand top-down and circular causality and a world of nested processes…” …Evolutionary theory’s current contretemps – and our inability to predict where the field will be in 50 years – are a cause for celebration…” Crisis = Turning Point, Point Of Decision, Rebirth Indeed the word “crisis” in its original meaning describes a “turning point”, “point of decision”, or even “rebirth,” thus it does not necessarily mean a negative event as the word is mostly used nowadays. As the above mentioned article suggests, a crisis opens up new possibilities, clears previous dogmas and prepares paradigm shifts. Today, humanity is in a global crisis. It is not only evolutionary theory that has reached a turning point, but basically all of the human institutions that looked well grounded, even 10 years ago, are facing crisis situations. Moreover the developments in quantum physics started challenging even the...
International Monetary Fund Predicts Global Financial Crisis Will Take A Decade To Recover From

International Monetary Fund Predicts Global Financial Crisis Will Take A Decade To Recover From

It is not yet a lost decade but it will surely take at least a decade from the beginning of the crisis for the world economy to get back to decent shape.”  – Olivier Blanchard, chief economist at the International Monetary Fund The Daily Mail reports: … with the eurozone crisis threatening to spiral out of control, the US approaching a debt storm, and the global economy slowing from China to Brazil, the outlook remains bleak.” The Problem With Isolated Analysis The unfortunate dilemma continually facing the global economy is a lack of unified integral analysis. For instance, the U.S. looks at the Eurozone and seeks to prepare itself for the worst, although not-much-thinking of providing aid. The Eurozone looks to the U.S.’s approaching fiscal cliff and thinks likewise—neither has proposed the need for mutual aid. In an interconnected world, perhaps most represented in economic relationships, where markets are tied together, and therefore rise and fall in conjunction with one another; the idea of mutual responsibility is so fundamental that it is almost mind boggling that it has yet to be realistically proposed. If markets remain connected, as they are now, and nations do not think of each other as parts of one global system, which is now in a growing crisis predicted to worsen, then how can it possibly be tackled by independent parties working towards different goals in an integral network? The Family Analogy The most simple interconnected group that exists is a family. In a family, we have a mother, father, possibly children, and extended family. The health of the family is predicated by the health...
This Crisis Is Different

This Crisis Is Different

The observation that recoveries following a financial crisis are different suggests that standard macroeconomic policies might not work as one would usually expect… On balance, it thus seems that this time – or, rather, this post-crisis environment – really is different, and that macroeconomic policies have done little to improve matters…” — Daniel Gros, Director of Center for European Policy Studies, in the Project Syndicate article, “This Recovery Is Different.” Today’s Crisis Renders Political Leaders & Financial Experts Helpless Indeed political leaders, financial and economical experts seem desperately helpless in the face of the deepening crisis all over the world. In Europe, for example, they switch from austerity to stimulus, and then back and forth. In the US, there is sharp debate about more market freedom or more State control, interest rates are lowered to even minus levels like in Denmark, but overall nothing seems to work. All the debate and analysis is touching only the surface, the symptoms. It does not extend deeper trying to identify the core problem. How Is It Possible That The Methods & Tools That Drove Progress Until Today Turn Out To Be Useless, Moreover Harmful? Every day, the news increasingly exemplifies how the globally interconnected economy affects every country in the world, but when it comes to implementing solutions to global problems, no leaders or experts know how to do it. A global, integral system means that all the elements are tightly intermingled with each other. When one part of the network moves, the whole network moves with it. All the elements are fully interdependent. Today’s globally interdependent conditions are still being approached by...
Downward Spiral In An Interdependent World

Downward Spiral In An Interdependent World

The Slowing Down Of The Chinese Economy Continues A recent article in the Financial Times, “Downturn in China spreads to key sectors,” outlines how the slowdown in China spreads into the key sectors of economy previously thought to be solid.  …China’s downturn is spreading to the sectors and companies that were expected to withstand the slowdown and drive growth in the region. Financial Times analysis shows that a third of publicly listed Chinese companies suffered cash outflows in the quarter to the end of June as the combined effect of the slowdown in exports, a build-up in stocks and tightening local government finances begins to bite. Cash balances at a tenth of 1,700 companies analysed by the FT using data from S&P Capital IQ have turned negative in the past two quarters. For a further 6 per cent of companies that normally report an outflow, the outflows were worse than last year. The results highlight that even the companies that are expected to help rebalance China away from an investment-driven economy – such as consumer and retail businesses, healthcare, pharmaceuticals and electronics companies – are being affected by the slowdown, along with construction, real estate, industrial machinery and chemicals…” The Chinese Downturn Is Part Of The Global Process Due To The Interdependent, Integral System For a long time many observers, and also leaders of the global economy, financial institutions and politicians look at China as a potential savior of the global economy with its unstoppable growth. But this belief did not take into calculation the interdependent state nations evolved into in today’s human network. Individuals and nations alike are tied together into...
Redefining Prosperity

Redefining Prosperity

Prosperity – at least in economic terms – has always been defined within the remit of very narrow boundaries.> Typically it has always meant growth, a six letter word that obsesses politicians and economists. But when attempts to create growth prove counter-productive then it’s time for a rethink. The ultimate aim of growth is prosperity, yet – for the vast majority at least – it remains an elusive dream. The question that needs to be asked is: What is prosperity? And if our previous attempts to attain it have proved unsuccessful then how can it be achieved? The following excerpts are from the book Prosperity Without Growth: Economics for a finite planet, by Tim Jackson. The excerpts are quotes from Zia Sardar, a London-based scholar, writer and cultural-critic who specialises in Muslim thought, the future of Islam, futures studies and science and cultural relations. Prosperity Depends On The Society You’re In & Your Responsibility To It The good life of the good person can only be fully realised in the good society. Prosperity can only be conceived as a condition that includes obligations and responsibilities to others.” The prevailing vision of prosperity as a continually expanding economic paradise has come unravelled. Perhaps it worked better when economies were smaller and the world was less populated. But if it ever was fully fit for the purpose, it certainly isn’t now. Climate change, ecological degradation and the spectre of resource scarcity compound the problems of failing financial markets and economic recession. Short term fixes to prop up a bankrupt system aren’t good enough. Something more is needed. An essential starting point...