Comments on: Building a three-legged stool http://blogs.reuters.com/great-debate/2009/01/28/building-a-three-legged-stool/ Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Mac http://blogs.reuters.com/great-debate/2009/01/28/building-a-three-legged-stool/#comment-22197 Sun, 30 Aug 2009 22:05:41 +0000 http://blogs.reuters.com/great-debate/?p=1507#comment-22197 Great speech, yet Chief Seattle might say you speak with forked White Man tongue if he could reveal you …. “start valuing people first” … “each person on this planet is entitled to fresh water, nutritious food, proper shelter, healthcare, and access to capital” … well said old chap, in true Brit style. Some live poor so you don’t … next time try some quotes from Chief Sitting BULL.

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By: Marios Gerogiokas http://blogs.reuters.com/great-debate/2009/01/28/building-a-three-legged-stool/#comment-6549 Thu, 29 Jan 2009 22:28:04 +0000 http://blogs.reuters.com/great-debate/?p=1507#comment-6549 Very well said. Rebekah also made several important points, on personal responsibility and the need to change one at a time, although through fear we respond as a herd of cattle. And this is how ‘market specialists’ are seen us in their mathematical models.

North American Indian wisdom can be extended to the financial web too. Today’s financial system is based on ‘Fiat Currency’, created out of nothing, taxes from future generations for instance. ‘FIAT LUX’ in Latin translates ‘let there be light’, and the Greek phrase is γενηθήτω φώς (or genēthētō phōs). When credibility fades systems crumbles and indeed we need to go back to basics. The financial system will evolve towards a resource (human & environmental) based system. This is going to change rapidly. The interaction with IT infrastructure, the ascend of Knowledge Society and the enlightenment of individual and collective Conciseness will bring the changes we all strive for.

Greed had led us to demand for never ending growth. To deliver their promises, the financial experts devised all sort of alchemies; derivatives, Ponzi schemes, toxic papers, billions of right-offs to oligarchs. Trading and shorting shares has been wide spread through internet in large numbers increasing volatility, risk and instability.

We are in the age of ‘credit crunch’ for those that ‘have not’, and the lack of ‘cash flow’ from those that ‘they have’ but don’t trust the market and their capital is not circulated. Stimulus strategies are created to ‘bring in’ the circulation additional, more money. With current crisis of confidence on the system, the hoarding of capital even with low interest rate will continue. We have seen it in Japan. The one Trillion dollar question is, will it ever end?

During the last Great Depression in the 30s, the ‘Wörgl Experiment’ proved to be successful through the introduction of local currency. Unemployment was minimised and local economy flourished. It was ended by the bank of Austria seen it was seen as threat rather than as complementary and a competing action.

Today with the IT infrastructure, internet, e-society, e-currencies are emerging in different forms and can be a complementary additional stimulus. Currencies are created based on trust we build and agreements we make as group and as society to value something.

The environment can be seen from a ‘positive angle’ rather than a burden or an additional cost to be past to the consumer. For instance, creating value through Innovative ‘Carbon Capture and Storage’ methodologies can be the next source of hope for the activation of environmental measures. Most companies and well paid consulting firms are proposing complex expensive methodologies that ends up with enormous amount CO2 stored in the see or underground with the danger of escaping.

A far more creative method that is been adopted recently with coal power plants is a process that uses engineered algae to capture and reduce flue gas carbon dioxide (CO2) emissions into the atmosphere. The algae are harvested daily and converted into a broad range of biofuels or high-value animal feed supplements, or fertiliser.

There is deep wisdom in the saying, ‘think globally act locally’. If we balance our lives, our families, and the societies we live in, we will see the successful change globally because our conciseness will grow on the way.

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By: Rebekah Shaman http://blogs.reuters.com/great-debate/2009/01/28/building-a-three-legged-stool/#comment-6412 Thu, 29 Jan 2009 10:18:36 +0000 http://blogs.reuters.com/great-debate/?p=1507#comment-6412 Thanks so much for your post. Your eloquent perspective on our current economic system puts a much needed emphasis on its impact on people and the environment.

You quoted Chief Seattle, these indigenous people understood the crucial relationship between humans and the natural world. Another Cree Indian Proverb prophesies the same thing, “Only when the last tree has died and the last river been poisoned and the last fish been caught will we realize we cannot eat money.”

But are big businesses and governments, brave and courageous enough to be the change, or will the current behaviour of greed, selfishness and fear continue to dominate?

What we need is REAL leadership, like the one Obama is spearheading. Leaders who understand the importance of maintaining and protecting the environment, have compassion for the poor, hungry, sick and weary, who are willing to take responsibility for their actions, and who will build a three-legged stool.

While I continue to hope, it is becoming obvious to me that every one of us need to take personal responsibility and be the change we want to see in the world instead of waiting for others to lead the way.

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