Help
Sign In
joe perez
October 2008 
EQUAL Views for October 15, 2008
Posted on Oct 20th, 2008
by 
wolfspirit
wolfspirit
A daily look at self, culture, nature, and spirit...
| Inquiry: What's the Root of the Financial Crisis? | |
 Lack of consciousness to recognize the moral imperative to realize the economic well-being of all beings (worldcentric), in healthy relationship to Nature, not the furtherance of mere national self-interest or pure self-interest. ... Lack of self-understanding to grasp the fully social dimensions of the self, producing distorted emphasis on individual rights and responsibilities. ... Greed and corruption by "very bad people". | Consumer borrowing run amuck, undisciplined. ... Impusive buying based on false beliefs that housing prices always go up, stock market valuations reflect reality, and other illusions. ... Bigger McMansions, more highly leveraged real estate investments, exploding CEO salaries without no correlation to performance. ... Less job security (adjusted for inflation), declining real wages, impacting consumer confidence. |
| Lack of a reigning global philosophy that can effectively call for institutional solutions to address the failures of globalized capitalism. Failed anti-regulation ideologies, reflexively biased against democratic socialism, which couldn't forsee the limits of market forces. ... Poor political and religious leadership that failed to challenge Americans' debt culture. ... The Prosperity Gospel and all other justifications for materialism. | Fiscal policies of privitization of public resources, allowing irresponsible use of bizarrely complex financial instruments (derivatives, credit default swaps, etc.), the consolidation of the financial industry into institutions "too big to fail". ... Energy policies that failed to direct precious capital into renewable energy resources rather than the housing bubble. ... Business management polices that incentivized sales of risky, highly leveraged securities products. |
| Holon of the Day: The Windmill | |
"EQUAL Views" is a Web column written by Joe Perez, usually published most weekdays at Joe-Perez.com.
Access: Public
