Stephen gets it on the “troubled” mantra

When an Economic Crisis Hits eLearning, What Do Managers Have to Say About It? – Stephen only instructs his community but the advice should be taken to heart elsewhere – especially in the news media. He says to can this “in these troubled times…” stuff as it is not accurate and can be a self fulfilling prophecy.

the economy has not changed materially since before the crash. This is important to understand, because what it suggests is that the loss of wealth was of wealth that did not exist in the first place – it was largely fictitious wealth created by (shyster) credit markets. Real harm will be caused, though, if we act as though nothing is of value any more. We need to, for now, continue creating, selling, producing and consuming. But we also need to retool, because our economic patterns are not sustainable. The only way out of this is to replace, in relatively short order, fictitious value with real value. We don’t do that by pulling in the reins, managing conservatively, being ‘fiscally prudent’.

Stephen is looking for

an environmentally responsible, socially just, and progressive market economy based on fairness and humanity. Real value, produced by real people. To proceed in any other direction will most certainly unleash substantial and needless misery throughout what will have formerly been called “the developed world”.

Which sounds reasonable but one must keep in mind that a primary cause of the current mess traces back to governmental efforts for fairness in housing where that fairness ignored ability to pay. “Real value, produced by real people” is sometimes in conflict with the fact that not all people create the same value. Fairness must not mean that individual productivity does not have consequence. That is the tough dilemma.

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