The Challenge To Develop New Economic Models

George Soros was reported today in the Times Online saying that  the world economic situation is like a ‘greek tragedy’ (and presumeably not just a tragedy for the Greeks..).

Reading this prompted me to re-read a letter first published by the supreme governing body of the Baha’i Faith entitled The Prosperity of Humankind. It was first published in 1995 and I thought I would share with you what seems to be a particularly prescient section-

‘The classical economic models of impersonal markets in which human beings act as autonomous makers of self-regarding choices will not serve the needs of a world motivated by ideals of unity and justice. Society will find itself increasingly challenged to develop new economic models shaped by insights that arise from a sympathetic understanding of shared experience, from viewing human beings in relation to others, and from a recognition of the centrality to social well-being of the role of the family and the community’.

Looks like a good opportunity to start developing those ‘new economic models’..

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