Following a decade characterized by an explosion of global challenges, and most recently a structural economic crisis, we now live in a completely new reality. Never before has the world faced so many serious challenges simultaneously. Leaders from all sectors of society are finding it increasingly difficult to navigate this new reality. Our old tools and models to address these problems don't work anymore. We are living in a world that is becoming increasingly complex and interconnected and, at the same time, experiencing an erosion of common values and principles that undermines public trust in leadership as well as future economic growth and political stability.
As we begin the second decade of the 21st century, humanity is at a cross-roads. We can either continue to work as lobbyists for our narrowly defined self-interests and keep doing the same old things that got us into the crisis in the first place. Or we can act together as true global leaders, with the long term global public interest in mind and at heart.
Following the economic crisis of the past two years, we have now entered a new era of austerity and greater modesty. In this new reality, collective sacrifices must be made to safeguard and enhance our future. While a total collapse of the global financial system was averted, governments around the world have gone into huge debts to do so. In the short term, this is leading to higher taxes, reductions in social and public health systems, as well as reduced investments in education and infrastructure.
As the economic center of gravity continues to move to the East and to the South, it will create political, economic and social shock waves in the process. And new global players -- in particular non-state actors -- are emerging at an unforeseen pace. This new fluid global power structure, marked by greater expressions of national interests, may lead countries to look primarily inward when attempting to solve any problem.
Looking ahead, the new reality will also be characterized by growing resource scarcity, and this has serious implications on energy, food and water security. The traditional borders between business and government will continue to erode as neither governments nor civil society alone can confront the complexity of global challenges that confront us.
All these dimensions of the new reality require first and foremost a common approach: basic values and shared norms to be turned into positive forces driving our future. It also requires a new sense of "global togetherness."
This is why we will focus on shared norms for the new reality as the theme at this year's Annual Meeting of the World Economic Forum in Davos. Norms are vital for providing fundamental guidance to decision makers who operate in this new reality, which still lacks an effective formal and globalized legal infrastructure. They also provide the compass which can guide the decision-making of leaders and help ensure inclusive rather than exclusive outcomes. Without such shared norms, our efforts of reforming global systems will lack direction and, in the worst case, prove to be ineffective. Shared norms will also help to define a common vision for the future that we want to create.
International cooperation is everybody's business now. More than ever, the new reality underscores the need to create new bonds rather than new boundaries. We need new partnerships and alliances between public, private and civic life to tackle the problems that lie ahead. We are more likely to succeed in managing global challenges if we take a practical, multifaceted approach, focusing at least as much on the "how" as the "what." It will force us to set aside our immediate short-term interests and take the long-term global public interest to heart.
This may prove to be difficult. But one thing is certain: We can't keep doing the same old thing in a new era that requires new responses.
Amy Rosen: Davos 2011: Seeding the Entrepreneurial Mindset
Translated: it means that whether we are aware or not, we are now at war with these proponents of global economy. The US and the EU, especially, should begin taking measures to roll back the lop-sided trade tapestry created by and for the 2%ers .
I suggest that we take that attitude to the ultimate end. There should be an Internatinal Bill of Rights and Responsibilities for the worlds governments, corporations and citizens. It would require ratification by all three groups.
It would be a forum for compromise on the great issues of today. For example, the people could share in a greater proportion of the wealth of the world in trade for limiting population increase. Corporations could be allowed access to international markets in return for responsible resource management. Governments could be free to operate by local custom or popular mandate, provided they adhere to the agreed to rights of citizens.
This is just a back of the envelope concept. But, I feel the principle has merit.
Sounds like fascism to me.
"All these dimensions of the new reality require first and foremost a common approach: basic values and shared norms..."
"Without such shared norms, our efforts of reforming global systems....."
"Shared norms will also help to define a common vision for the future that we want to create."
YIKES !
I hope you don't mean "shared norms" like relentless de-regulation & corp. co-opted federal agencies which contribute to oil spills in giant gulfs.
or "shared norms" that result in lost minutes to US energy policy meetings a la D. Cheney. That later resulted in congress. testimony where those same energy exec's. did NOT have to testify under oath.
or "basic values" like extending US military contracting to include "security" co's. as the former corp. Blackwater. Due to PR issues is now operating as "new & improved" corp. XE
In other words keep doing what we've been doing, just turbo charge the process. I am reading "Flat Broke In The Free Market" by Jon Jeter. He describes what neo-liberal globalist orgy has caused around the world and here at home. Now, architects and apologists for this thieving system would like to accelerate this process as the way out!? If the humanity goes along with this suicidal scheme we are doomed to a perpetual serfdom. It is time to say, ENOUGH!
If we are to be poorer than it is only fair to make the top poorer as well. Why tolerate our poverty caused by the elites while allowing them to get even richer? It is time to make them fear us once again. How can 300,000 people rule 300,000,000? Think about that for a moment.
And I have NOTHING in common with the Bangladeshi mother of 10 in a culture that has never learned the difference between a drinking source and a toilet.
Sorry.... too many people - too few resources ... this is not a time for Kumbaya
"The traditional borders between business and government will continue to erode as neither governments nor civil society alone can confront the complexity of global challenges that confront us. "
Tell that to Congress and while you're at it tell them that the American middle class and poor are sick and tired of being the ones to bear the brunt of the punishment. Let those who caused the mess - the wealthy, the Wall Street, the big banks, et al, open their pockets because the middle class is going to sew theirs shut.
For-profit organizations have no place in positions of leadership. The profit motive is inherently untrustworthy, meaning a businessman can only be trusted to abuse power.
The mechanics by which businesses are owned and operated are inherently undemocratic, meaning a businessman can never deserve a people's mandate.
And you're one of them, Mr Schwab, don't you think we'll forget that while you use your soapbox to generate PR for your corporatist vision of the world.
The power to change the world must come from the people - not from the wealthy. The wealthy can not be trusted to do good in the world.
sometimes the old responses are just fine and work remarkably well --------for example
those provided by glass-stegall ------which said --
no you cannot do that bad thing will happen ---again
new paradigm shifts needed to instantly replace stodgy old world bureaucracies,seems a pipe dream.
it is difficult to speculate what types of models we need,we are in a brave new world and any expertise will likely take away older models that no longer work. it seems it would take a clairvoyant to recognize questions to be asked.
While this is too often the case, we see from the Middle East uprisings that conditions can change very rapidly and unexpectedly too. So I prefer not to second guess history, and do what I can to make for the change I believe in. At least, it can create a seed for change way into the future. But if change comes unexpectedly fast here, it will be useful in making for a softer landing than might otherwise occur.
Individuals kept on spending even in face of declining incomes by using the cheap and easily available loans handed over to them by the bankers.
The bankers kept on lending to the individuals, who they knew would never be able to repay their loans, because they were earning commission. Moreover they were able to sell the poor loans after getting them fraudently rated as AAA to the pension funds and fixed income investors for commissions knowing very well they will go down in value when the borrowers default. The bankers were confident that the government would route tax payers collections to them in case of any mishap as they had become too big to fail and controlled the politicians, rule-makers and the rule enforcers.
The politicians around the world are nothing more than auction items which can be sold to the highest bidder. They will do whatever they can for the lobbyist paying them the maximum amount of money or votes, be it the unions, the banksters, the richest corporations or individuals.
The rest of the population is least of their concerns. The only activity they do is pacify the majority of the population using false statistics and promises of a better future so that they do not lynch them and their masters while they are robbing the taxpayers.
http://www.marketoracle.co.uk/Article24581.html
Another term that should be banned.