So, we are in a tough spot. The cornerstone of the system, the Banking sector is in peril. Apparently, this is the case in the entire Western hemisphere, which poses a threat to the status quo.
So, where do we go from here? Albert Einstein once stated that a person, who by repeating the same process expects a different result, is definitely insane. Following this, it is evident that expecting salvation from the current economic practices is doomed.
I sincerely believe the West should move towards the Scandinavian welfare state direction. Adopting such a system, would end the focus on personal gain and the ridiculous pursuit of riches. It would stress the importance of collective well being and the importance of society’s progress instead of pure personal well-being.
Obviously, there are arguments against this. Winston Churchill, an ardent Anti-Socialist in his time, considered Communism as the destruction of free enterprise and will and thus, the damnation of society as a whole into misery.
Alas, the present situation indicates that collective misery can occur in the liberal system as well.
How can we put things into perspective? Our youth should be introduced to the belief that the common good is above personal gain. Schools and Universities should struggle to abolish the ‘greed is good’ dogma that has led society to a dead end. As George Orwell had noted in the 1940’s, ‘in a society, indexes and percentages are irrelevant, what is critical is whether the average citizen is happy’.
Ask yourselves a very simple question: how can one feel happy when there may be even one fellow citizen in misery?
In retrospect, we should have never allowed society to reach a state where the individual is more important than the whole. I am well, when everyone around me is well. My main concern is to have healthy and resourceful people around.
And this should be the norm in our society!