Money and Value

Money doesn’t always equal value.

These news items are about the United States but what’s happening there is impacting the global economy . . .

From The New York Times: Worried Banks Sharply Reduce Business Loans “Banks struggling to recover from multibillion-dollar losses on real estate are curtailing loans to American businesses, depriving even healthy companies of money for expansion and hiring.”

From the Economist: Inflation or deflation? “The markets have become incredibly volatile as investors vacillate between these outcomes.”

From the BBC: Record deficit for next president “The next US president is expected to face a record federal budget deficit of almost half a trillion dollars.”

Economics used to seem as opaque as metaphysics to me. Then, as I hit the middle of middle-age, it became apparent I was studying the economics that businesses use, that nations use, that politicians manipulate.

The economics that has squandered vast quantities of non-renewable resources.

The economics that keeps certain people away from creativity, away from a decent livelihood.

The economics that spawns wars and utterly brutal treatment of innocent civilians !

I don’t want to start ranting so here are some spiritual quotes to ponder:

“The repudiation of national right and power to make war represents the first step toward mutual wealth and sound economy. Short of a world economy mankind will not achieve the fruits of civilization.”
Bahá’í International Community, 1947 Feb, A Bahá’í Declaration of Human Obligations and Rights

“Widespread uncertainty about the condition of the economy indicates a deep disorder in the management of the material affairs of the planet, a condition which can only exacerbate the sense of frustration and futility affecting the political realm.”
The Universal House of Justice, A Wider Horizon, Selected Letters 1983-1992, p. 102

“…participants in the informal sector of the economy, women in particular, must be involved in reconceptualizing economics altogether, both theory and practice. If women have a unique approach to economic activity, it would most likely be apparent in the largely unstructured informal sector of the economy. For example, preliminary findings in an on-going study of women industrial sub-contractors in Malaysia, show that the business objectives of the majority of women sub-contractors are defined not so much in monetary terms as in terms of values.”
Bahá’í International Community, 1995 Aug 26, Women in the Informal Sector in Malaysia

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Light In The Darkness


“The bed-rock of a strategy that can engage the world’s population in assuming responsibility for its collective destiny must be the consciousness of the oneness of humankind.”
Bahá’í International Community, 1995 Jul 16, Realization of Economic, Social, and Cultural Rights

From The New York Times: Bank Investors Redefine Bad News
“…it has now been a year since the credit crisis erupted, and, so far, the optimists have been proven wrong time and again. Skeptics say it could take years for banks to recover from the worst financial crisis since the Depression. And even when things do improve, the pessimists maintain, banks’ profits will be a fraction of what they were before.”

From Forbes: Wachovia Loss May Spell End For Bank Rally
“After reporting second-quarter earnings that fell short of expectations, American Express said it does not expect to meet or exceed long-term financial targets until the economy recovers because conditions worsened more rapidly than expected.”

So much of the world is overextended.

So many people suffer.

A few get rich as the rest get poorer . . .

~~~~~~~~~

I used to work as a telemarketer (Oh, my God, Alex, how horrible !) for one of the major credit card companies. There came a point when they expanded their services into Ireland. The CEO said the Irish appeared to be overly careful in their finances—they weren’t carrying any balance on their cards. I quit the company right after I saw a quote from the CEO: “We have every confidence in the Irish market. It may be slow now but we will educate them.”

Educate them . . .

Time for class kids! Gather round. There ya go. See, this is a wall socket. Some people say its dangerous to put your finger in here but today we’re gonna learn that it’s actually fun !!

We all need education, constantly—from the bottom up and from the Top down.

Sometimes I get a little nutsey and think that the separation of Faith and State has brought ruin to both.

“…material civilization is like unto a beautiful body, and spiritual civilization is like unto the spirit of life. If that wondrous spirit of life enters this beautiful body, the body will become a channel for the distribution and development of the perfections of humanity.”
‘Abdu’l-Bahá, The Promulgation of Universal Peace, p. 11

Things sure are headed Somewhere . . . In fact, that reminds me of an old saying, “If ya don’t know where you’re goin’, any road will take ya there.”

“…it is unrealistic to imagine that the vision of the next stage in the advancement of civilization can be formulated without a searching re-examination of the attitudes and assumptions that currently underlie approaches to social and economic development….We are being shown that, unless the development of society finds a purpose beyond the mere amelioration of material conditions, it will fail of attaining even these goals. That purpose must be sought in spiritual dimensions of life and motivation that transcend a constantly changing economic landscape and an artificially imposed division of human societies into ‘developed’ and ‘developing.’ “
Bahá’í International Community, 1995 Jul 16, Realization of Economic, Social, and Cultural Rights

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Business . . . (as usual?)

I’ve recently begun a business that makes me an entrepreneur. The linked article from Wikipedia says, “Entrepreneurs often have strong beliefs about a market opportunity and organize their resources effectively to accomplish an outcome that changes existing interactions.”

Marketing? And, you call yourself a spiritual person, Mr. Zoltai?”

Well…

Howard Rheingold said, “Markets are as old as the crossroads.”

And, tonight, in a business training seminar, Brett Rademacher said, “Life is a moving market.”

Nothing happens without someone selling something.

“What?”

Consider this:

Did you ever pursue someone for a date?

Did you have the date?

You must have sold them on the idea . . .