For the thirty-plus years of my adult life I have watched, read, and learned - albeit somewhat passively - about our national and world economy, the politics of big business, the exclusive world of money, and how it all fits together to affect each of us. But a few days ago, while watching more economic bad news on the television, my teen looked at me with an inquisitive voice and said: "I don't understand...if all this is based on confidence, perception of value, and speculation...why are we in this mess and how does it all fit together? Can't we just print more money?" Oh boy, thought I, where do I start? Explaining the complicated components of the economy - in fact the world of money - and why we are in a recession and our economy is failing is not such a simple task.
Rather than fumbling around with a lengthy dissertation on macro and microeconomics, I thought better of it and stopped. I wanted to somehow give her an answer that she could get her brain around quickly. So I spoke about the underlying reason for our national and international financial perils: greed. I explained to her that it is the concentration of greed, and the want that we all have to live beyond our means, that has hurt us all. We are picking up the tab for our greed. I explained to her that I personally want to blame the big corporate CEO's, the super rich, and the Wall Street executives. But the foundation of greed upon which our woes are set extends all the way to each and every consumer; we have lived beyond our incomes through the invention of credit.
Short Stories
Coincidentally, following this conversation with my daughter, I picked up the September 29th issue of Time magazine - that I still hadn't been able to get to - and there, on page 32, began an article entitled: "The Price of Greed." The article confirms the point: "...in the end, almost all of us, collectively, are going to pay for the consequences." And a bit later on the same page: "When greed exceeds fear, trouble follows." The article goes into strong detail as to the specific details that contribute to our economic troubles (and I will ask my daughter to read this fine article).
The news story we watched that prompted my daughter's questions was about the American automakers asking for some of the bail out funds. I admit to a bit of extra angst on this matter. The auto industry is like the deliberately rebellious son who commits a crime, then finds religion and repentance too late. For decades we have been warned about pollution, the damages to our environment, and the need to migrate away from fossil fuels...but greed determined decisions; it was short-sighted greed that kept the American car makers from taking the lead by making better cars than Toyota, and new, environmentally conscious products. No fear; the auto makers have always been confident that consumers will buy (and trust) whatever they make.
The same goes for "the environment" (which is related in many ways). I put this in quotes because we speak about the very air we breathe, our sky, and the ground we are pulled to as if it is a possession, like "the house" or "the television" or something detached from our person. Sure, I know that it's just a label, a common term, a way to address an issue...but in my mind, it's so much more than "the environment"...it is our very lives, the reason we are alive...it is us, more than us. Anyway, as I said, the same goes for the environment; we have been warned and known for decades about the effects of pollution, the impact we humans are having on our planet, and the need to migrate away from fossil fuels...but greed determined our decisions. It was easier to not incite fears in the masses, and largely ignore this exponentially growing problem in favor of greedy consumerism, and the intrinsic pollution of our disposable economy.
Perhaps between the Time article and the assistance of her parents, our daughter may come to understand a bit more about our collective condition. But understanding is only the start. As she prepares for a successful adulthood, my hope is that she will act in responsible ways and seek to promote responsibility in others.
The (September 29th) Time magazine article I aptly concluded: "Coping in this new world will require adjustments by millions of Americans. We all will have to start living within our means - or preferably below them." To this I would add that unregulated Capitalism must be tempered by lessons of the past; we humans have a responsibility to our planet and to each other to heed the warning signs, shy away from allowing greed to determine action, and take consistent action based upon (and within) that responsibility.
A Concentration on Greed Makes Everyone Bleed
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http://www.KissOfTruth.com / Kurt Turrell
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