We are facing with financial crisis even with the free-market system as basis of the world economy. Economy should work with efficiency as defended by those who believed in free-market system. But it is not working.
So why does it not work?
Years of experiences in field of economy gave him the right perspective on the problem. Human nature.
And what traits of human nature caused this crisis in economy?
It is selfishness. Selfishness is stance of personalities to meet their desires regardless of fellow humans and nature. It is linked to competition and the wish for domination. Due to the social needs to connect with others we have family selfishness, group selfishness, nation selfishness.
We diagnosed the source of the problem. And what is the solution? Solution is the opposite of selfishness.
The opposite of consumption isn’t thrift. It’s generosity.
Notes and references:
1. ^ Greenspan: “I made a mistake in presuming that the self-interest of organizations, specifically banks and others, was such as that they were best capable of protecting their own shareholders.” Video
2. ^ Video: Alan Greenspan admits error.
3. ^ CDK, Ljubljana, 1996, (textbook DU)
4. ^ Raj Patel – The Value of Nothing
- “Are You Ready for the Next Crisis?”… (projectworldawareness.com)
- Dave Johnson: Alan Greenspan And Things Forgotten (huffingtonpost.com)
- Alan Greenspan And His Disciples Are Intrinsically Terrible Regulators (businessinsider.com)
- The Criminal Legacy of Alan Greenspan (lewrockwell.com)
- Lies, Manipulation and Deception. – All for Naught… (projectworldawareness.com)