Learn the lesson this time

I don’t think it has hit most people yet, but we are in the middle of the defining moments of our livetimes. 

At the end of 2001, my economics teacher whom I respected greatly told me that when the history books would be written, the most important story of that year would not be 9/11 but Enron. 

I now know what he meant. 

We are facing a meltdown of broken systems that have been pillars of our existence for quite some time now. The political system needs some serious cleaning, the economic system needs a total revision. 

A lot of truths aren’t anymore. 

You can see it in the United States, in the UK and most seriously in Iceland. A change is needed. The question why is more important than ever. Why do we do the things we do the way we do them?

Extreme ideology driven with religious fervour is untolerable anymore. The free and unregulated market is a myth, just like the virgins that await the suicide bombers. It would be nice if it were true for those who believe but it isn’t. The reality is a disaster and we should stop listening to the preachers.

A debate format that pits extremists against each other on television works for CNN but gives unnessecary credibility to people who believe in talking, burning bushes.  

The seperation of the branches of government is more important than ever. The independence of each branch from the other is crucial if the goal is a society that people can trust. Checks and balances are crucial. 

Obama is letting the stimulus of the leash. I fear that it may come too soon and it is helping to keep alive too many broken dreams. Like the US auto-industry that seems to have no long-term vision. 

In Iceland, change is needed but the politicians and business leaders are scrambling for their seat at the old table, ignoring the fact that a new one is needed. Elections are probably coming too early for any debate to mature from the sandbox. 

In the UK, the talk in the media resembles where Iceland was a few months ago. Chaos! 

A word of advise for the rest of the world. Learn the lessons of Iceland. The interplay between politics and business and the havoc it has wrecked.

Since you didn’t learn from Enron, you now absolutely have to.

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2 Responses to “Learn the lesson this time”


  1. 1 Sebastian February 16, 2009 at 3:54 pm

    We used to see oligarchy in (post)communist coutures, but probably it’s everywhere, few people with money trying to influence on politics to have more power & more money, please have a look on this interview:

    http://www.pbs.org/moyers/journal/02132009/watch.html

    transcript is here:
    http://www.pbs.org/moyers/journal/02132009/transcript1.html

  2. 2 Jon February 16, 2009 at 8:40 pm

    “The free and unregulated market is a myth, just like the virgins that await the suicide bombers.”

    — Nice! 🙂


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