Mahatma Gandhi admired the Boston Tea Party protesters, fondly referring to them during his campaign against the oppressive salt tax imposed on Indians by their British rulers. To him, such taxes belonged at the top of his sobering list of mankind's seven social sins: commerce without morality, politics without principle, wealth without work, pleasure without conscience, education without character, science without humanity, and worship without sacrifice. (...)
Because, frankly, there is very little evidence that much has changed-there is a record bonus pool on Wall Street this year, even though many fewer people have houses and jobs. But Wallis believes that alongside the visceral anger of movements such as the tea parties, there is a hunger for change away from the empty and destructive maxims-like "Greed is good," "I want it all," and as the deliciously selfish advertisements told us, "Because you're worth it"-to "We're in this together."
Part of that hunger is a curious kind of nostalgia, an uneasy sense that something may have been lost, or that our children are being taught poor values. What is striking about the history of the Great Depression is how those who survived it often talk fondly about the values they learned while growing up in a climate of deprivation and uncertainty. In interviews with NEWSWEEK's Tony Dokoupil, singer Ray Price recalled "Everybody helped everybody. No doors were locked. No food was refused to anybody, ever." Writer Gay Talese was taught by his father to "take nothing for granted, to be frugal and above all to be self-sufficient." He believes that if this recession "can end the foolishness and spoiled attitudes of selfish and rich people," then it "may be exactly what we need."
In the Great Depression, the reckless profiteers were chastised and regulated, and a welfare safety net was put in place. In his inaugural address, Franklin Roosevelt slammed the practices of "unscrupulous money-changers" who "have fled from their high seats in the temple of our civilization." "We may now restore that temple to the ancient truths," he said. "The measure of the restoration lies in the extent to which we apply social values more noble than mere monetary profit."
So what might these ancient truths be? Perhaps respect, integrity, caution, decency, fairness, hard work, loyalty, and a concern for others. For years, we did not scrutinize the values of our villains: we wanted to be like them, and continued to desire that which we could not afford. Wallis cites a study that found that in 2006, two thirds more high-school students thought "having lots of money" was "extremely important" than they did in 1976.
So here's the problem. Few would argue that the recession should not force us to rethink what we want and love-and how we behave toward those who have less than we do. It is clear that we should be self-sufficient and not rely on debt. That we should live more simply, consume more wisely, think of generations to come, and wonder what desires we want to plant in children's hearts. So how do we get beyond it sounding worthy and kumbaya? How do we actually shift values? Sarah Palin asked recently: "How's that hopey, changey stuff workin' out for ya?" Yep, still loads to do. So do we give up on hope and change? No. Those dressed in revolutionary garb aren't the only angry ones. Hope is not partisan. And taxation is not the only issue. Bringing decency back into debates, normalcy into pay rates, and ancient truths into temples is going to take a fight.
Lately, financial news has been dominated by reports from Greece and other nations on the European periphery. And rightly so.
But I’ve been troubled by reporting that focuses almost exclusively on European debts and deficits, conveying the impression that it’s all about government profligacy — and feeding into the narrative of our own deficit hawks, who want to slash spending even in the face of mass unemployment, and hold Greece up as an object lesson of what will happen if we don’t(...)
For some time it has been fashionable to describe businesses and organisations as “complex adaptive systems”. The phrase sounds learned. It is a cousin of that other knowing statement: that leaders need to be “comfortable with ambiguity”.
Well, yes. It is a turbulent world. It is hard to be certain about the future. But isn’t part of the problem for business leaders that life is in fact too complicated? Particularly in larger organisations, the legacy of old structures and traditions adds to this complexity. It is easy to lose sight of priorities. No wonder that, these days, the role of chief executive is often described as being an impossible job(...)
Governments used to worry about their banks. Now the reverse is also true.
A Senior HSBC executive reminisces fondly about the day he was parachuted into Latin America, a decade or so ago, to help run a recently purchased but troubled local bank. As he arrived he passed people protesting against the acquisition, some of whom were being carried about in coffins. For a moment he wondered whether that would end up being his fate(...)
The U.K. is all abuzz about "chip and PIN," but it's not a popular pub snack or a nickname for the newest celebrity power couple. It's the credit card security system rolled out in recent years to stem a wave of credit card crime (...)
You're having a hard time coming up with the cash. That's understandable. The economy tanked and dragged you down with it. Trish Hilliard gets that. She knows times are tough.
But here's the deal: You owe the money, and it's her job to collect. In the delicate relationship between debtor and collector, she has to be authoritative, always "in control." But nice, too, careful to keep her voice at a soothing lilt. She wants you to trust her (...)
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