The Economic Crisis is a Sideshow to the Real Issue
Economicnoise.com
March 2, 2012
The world is changing and few people understand the implications. Old rules and guidelines which worked for generations no longer apply. Profound changes, termed “discontinuities” by the late Peter Drucker, have obsoleted them. For those accustomed to linear change, there is a new normal. Mr. Drucker described a discontinuity as a change so profound that normal extrapolation of the past would produce misleading forecasts.
The most profound change the world faces is the future role of government in relationship to its citizens. Here are a few of the unsettled issues:
Are citizens going to allow government to continue to grow at the expense of the productive sectors around the world?
Can economies prosper as government becomes a larger section of the economy?
Does government work for the people or has this relationship been inverted?
Once government has reached a certain level of power over citizens, is it possible for people to ever reduce its control and power?
Will what appears to be inevitable sovereign bankruptcies destroy economies, welfare states and societies themselves?
Short of the disruptions associated with a World War, there has never been as much uncertainty regarding the future. For the US, isolated by geography from most wars, the current situation has no comparable other than the Civil War. What is happening is not understood by the masses. For them, this crisis is another economic problem, just another recession albeit one that is harsher and longer than previous ones. For them, it will eventually pass like all others.
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