Hawai’i’s Shared Futures By Vision Foresight Strategy

Economic justice?

Morning, everyone!  I didn’t get around to posting yesterday due to being a little overwhelmed managing an information deluge (that’s going better today) and being immersed in my paper.  But along these lines, if you enjoy looking at lots of information and what a new way to organize and centralize your feeds, check out Netvibes.

Back in November Thomas Friedman, the well-known author of The World is Flat, wrote in his New York Times column about the (then) proposed auto bailout.  He quoted another writer who suggested that if the government (read: society) bailed out the auto companies, then the leadership should go and investors should lose their equity.

Recently in Davos, Nassim Taleb, author of The Black Swan and writer about risk and uncertainty (particularly in finance), summed up the financial bailout in wonderfully simple (and politico-economic) terms: in bailing out the banks, we kept profit privatized while socializing loss.  It was, he said, the worst of both capitalism and socialism, and one for which taxpayers bear the worst burden.

I think both of these are examples of an often much-needed step back from issues to see them in their larger (and unfortunately to the hyper-pragmatists in life) and often philosophical contexts and consequences.  We talk about these economic recovery plans as acts of government, but forget that government is in fact a creation of society and an agent for society’s benefit.  Many of these very large, complex issues need to be reframed in terms that illuminate larger issues of societal fairness and responsibility, referring to both private businesses and government.

Think about tomorrow.


Filed under: Business,

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