Most leading business writers, economists and social scientists are saying we are experiencing not another downturn but a fundamental restructuring of our economic and social order. Tomorrow’s possibilities will be different and better for those who are prepared.
For a lot of us, near-term survival will be the only agenda item, but once we are past the panic stage, it’s time to think strategy again (see post titled: Strategy and the Fat Smoker). The economist Dr David Fleming wisely said at a recent conference, “Large-scale problems do not require large-scale solutions – they require small-scale solutions within a large scale framework.” This time we are in shouts for strategy rather than knee jerk responses, if ever I heard it.
There will be less financial leverage and more government involvement. The price for risk will be much higher but innovation will abound. We are a creative species and investors looking for opportunities will start to shift away from financial services[1] and towards areas such as renewable energy, software, genetics and agriculture opportunities.
There is also a shift in consciousness happening. A desire to move away from pure profit-induced materialism towards an appreciation that the whole world matters and a new type of altruism. We’ll see less power-over behaviour and much more power-with. Long may this continue, I say.
We have selected some of the best articles and books for you to read…
Articles to link to:
The New Normal
A Less Selfish Capitalism (May require registration to read full article)
The Green New Deal
The Great Turning: from Empire to Earth Community
“To those nations like ours that enjoy relative plenty, we say we can no longer afford indifference to suffering outside our borders; nor can we consume the world’s resources without regard to effect. For the world has changed, and we must change with it.”
From the inaugural address of US President Barack Hussein Obama, on 20th January 2009
[1] Although the ethical banks are booming, Triodos just posted huge growth.
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Specialists in sales & business development optimisation for multinationals and SMEs
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Futurecurve
Specialists in sales & business development optimisation for multinationals and SMEs
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The change in the social order of the things is far from evident in all areas and one cansay that bankers have no interest in changing and given that the next election is just a short year away I can't see how they can be made to change. Will we as consumers change our behaviour? Will we give up our cars. our centrally heated homes and our over stocked wardrobes? I for one think that this will be very hard to achieve.
ReplyDeleteIf you read The Great Crash 1929 by John Kenneth Galbraith and then try to challenge your statement that there is "a desire to move away from pure profit-induced materialism", you will find it quite easy. We have not changed since 1929, indeed for the last two millenium so i doubt another economic hit resultant from financial innovation will have an impact in this area...
ReplyDeleteMy view is that there is a slow but inexorable rise in the consistent desire for change in the order of things. This change may come through social, political or capitalist drivers or, most likely, a combination of all three. The price and availability of oil and its concomitant impact on food production, coupled with deep recession and the associated political fall-out, will start to chip away at the pure-profit drivers. This time, I feel the wind of change is blowing...
ReplyDelete