Economics Millennium Challenge

[chris macrae]

ECONOMICS MILLENNIUM CHALLENGE

Let us adopt The Economist’s 1972 microeconomics hypothesis : for any country to grow over time it needs capital markets that invest intergenerational savings into the next generation’s productivity

 

Then let’s assume that the peoples need to be entrepreneurially involved in the following puzzles

 

PUZZLE 1

Which of these 2 opposite types of banking do you want to be most pervasive in your country

 

Type 2:  

A) Issues credit for people’s income generation

B) develops local community

C) keeps savings safe

 

Type 1  

A) Issues credit to get people into debt through unsustainable consumption

B) isn’t community-based in its decision-making

C) rewards those who speculate globally with people’s savings

 

PUZZLE 2

What if technology reduces the cost of the main manual process of type 2 banking’s record keeping and customer transactions by 100-fold

 

PUZZLE 3

What if additionally trends spin which put bankers, media and government’s public servants in each other’s pockets

 

PUZZLE 4

What if the value of organisations in financial services becomes more and more dependent on how truly trustworthy they are,  and such information becomes so interpersonally networked that there is no longer a way to prevent insider trading such as knowing what a rating agency is going to broadcast next a second before everyone else

 

Well, The Economist’s prediction in 1972 was that unless these puzzles were transparently resolved by designing globalization to safeguard the sustainability of community-grounded banking the whole global financial system would collapse

 

It would seem probable that both developed and developing worlds now need to action learn the transparent truth about the models that microcreditsummit set out to empower worldwide knowledge exchanges around in 1997. In other words, all of our media now needs to value the leadership heroes and working heroines of Bangladeshi microcredit now more than ever. Moreover we need to take their action learning into IQ tests contextually relevant to every stage of education primary , secondary, tertiary so that education’s main purpose can also be to help youth find the unique competences they were born with to be productively income generating and communally valuable

 

Further references

- www.considerbangladesh.com where you can find the last 2008 articles of The Economist’s Unacknowledged Giant Norman Macrae

- http://www.10thousandgirl.com/ where young Australian women are making social media smart enough to start tackling these puzzles

Special Issue of Journal of Social Business published for 15^th www.microcreditsummit.org Spain Nov 2011