thks 260 years adam smith, 60 fazle abed & soros, 20 fei-fei li -Economist pro-youth economist -bravo sir fazle abed & jack ma

Consider Bangladesh - Extract from Norman Macrae's Last Article 2008 - how to prevent 2010s decade of slump

Below enjoy Norman Macrae's Last article, 2008 - 65 years after his last days as a teenager navigating RAF planes over modern-day Bangladesh in world war 2

Macrae Family Asia Rising Timeline 20th Q2 Sir KK's 25 years preparing for writing up legalese of India's Independence with Gandhi; Norman Macrae's Q3 and most of Q4 @ The Economist: Consider Japan from 1962; Consider Asian Pacific worldwide youth century and lead currency from 1975...Fast Forward to Consider redevelopment of Cox'a Bazaar  , Royal Automobile Club, London Saint James 2008. and subsequent dialogues on celebrate Bangladesh at 40 as number 1 Youth Collaboration Lab for end poverty experiments; Glasgow-Bangaldeshi-www Youth Interdependence Declaration 4 July 2010 -race to atlanta as greatest twin capital of youth's millennium goals and job creation Nov 2015 -all of above need integrating into 9 minute khan-ac type training modules of The Curriculum of Entrepreneurial Revolution , linkedin round The Economist since 1972 -how open education can make 21st Century's coming of age- youth's most productive and sustainable era

If banks in rich democracies had been truly competitive

institutions, at least one of them somewhere would have seized

the main opportunity created by the computer. This main

opportunity was to make all deposit-banking vastly cheaper than

ever before. By this cheapening it should make such banking

hugely more profitable. Then further competition would search

for the cheapest ways to guide all the world's saving into the

most profitable (or otherwise most desirable) forms of capital

investment, thus enriching all mankind.

Instead, during 2008 the total losses of banks in rich democracies

- in North America, West Europe and Japan - soared into trillions

of dollars. Fearful for their solvency, these banks virtually stopped

lending. The issuance of corporate bonds, commercial paper, and

many other financial products largely ceased. Hedge and

insurance firms also crashed. Mankind is thus threatened in the

2010s with its longest great depression since the hungry 1930s.


Why? The strange answer seems to be that other happy

consequences of modern technology promised to make this

cheapening even faster. Call centres in Bangalore vastly undercut

the middle class salaries of Midland bank clerk who until the

1950s expensively answered clients' questions in their branches

in the City of London. Cheap mobile phones kept village ladies in

once miserable Bangladesh as fully in touch with market prices as

is the chief research officer of the First National Bank of

Somewhere in California. His weekly salary is still 1000 times

greater than the previous annual earnings of that village lady. The

cost-effective way of running the old Midland or First National

then seemed to be to cut its total salary cost by something like

99%. This did not please Western welfare governments, or the

decent chief executives of the old Midland or First National bank.


Western welfare governments have long preferred to run their

banks in high cost cartels, and even invented reasons why this

seems to be moral. Their deposit-banks have usually kept in cash

only 10% of the total amount deposited with them. If 11% of

depositors suddenly feared that their banks might go bust, this

could accelerate a run that would send them bust indeed.

Governments therefore thought that depositors would be less

fearful if they were assured that the banks were officially and

tightly regulated. Actually, this mainly meant that the banks had

to hire ever more expensive lawyers so as to escape any crippling

consequences from this regulation. The attached quote shows

that Samuel Pepys understood this fact of life in his Diaries of July

21, 1662.


I see it is impossible for the King to have things done so cheaply

as do other men

- Samuel Pepys on discovering an important commercial fact of

life in his Diary, 21 July, 1662


The decent bosses of the deposit banks felt that the best way of

avoiding sacking nine tenths of their staffs was by competing

with a very different sort of financing called merchant banking

whose earnings and bonuses were far more generous than those

given to their own staff. These merchant banks were of peculiarly

differing pedigree. In London, it was assumed that they could best

be run by families like Barings who had done the job for over 200

years. In the 1990s, Barings went totally bust because one of its

hired traders bet much of its money on a hunch that a bad

earthquake in Japan meant that the shares of Japanese banks and

insurance companies would become more profitable. In Zurich,

merchant banks felt it most moral to keep the accounts of their

depositors totally secret, especially if these accounts were being

used to defraud their own countries' tax authorities. In 2008 those


secretive banks were then defrauded. In Wall Street, Goldman

Sachs and Lehman Bros bid up their annual bonuses to millions of

dollars for each partner. In 2008 even Goldman Sachs made a loss

and Lehman Bros went bust.


A former chairman of the Federal Reserve argues that "fearful

investors clearly require a far larger capital cushion to lend

unsecured to any financial intermediary now". He therefore thinks

that taxpayers money should be ladled into them to make those

investors less fearful. This seems far more likely to make

depositors intermittently more terrified and cause any depression

into the 2010s to linger on and on.


One of the few big banks to make a profit in 2008 was the

Grameen Bank (which means Village Bank) in that once basketcase

country called Bangladesh. The sole staff in a branch serving

several villages was once a woman student. It is now more usually

someone who has learnt to use the computer in the right way.

The rest of this report will examine how this marvelously costcutti...

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Consider Japan


 Posted 22 June 2010 by David Warren UK Ambassador in tokyo |  -see below

3rd remembrance party hosted Japan Ambassador to Dhaka, April 2011 with Bangladeshi's leading youth  technology wizards and collaboration NGO leaders

.Asian Sample Tour of Macrae's Curriculum of Entrepreneurial Revolution .. 

sample tour of Norman Macrae- 15 years into his career at The Economist, Normanis asked to sign his first survey

his greatest debates on youth futures start in 1972 when he saw students experimenting with digital networks:

I was very sorry to read in last week's "Economist" magazine of the death of Norman Macrae, who was its deputy editor for many years.

Norman Macrae was the first journalist to recognise the growing economic importance of Japan in the 1960s.  His seminal essay "Consider Japan" (which can be read in the Norman Macrae archive) was published in September 1962, is a fascinating and powerful analysis of the Japanese economy at that time, and was an important corrective to those who still thought justin terms of Japan as a poor, developing country producing cheap counterfeit goods.  The "Economist" obituary gives many other examples of Macrae's prescience and far-sightedness. The sudden jolt of recognition that Japan was about to become - as it had in the late 19th Century after the Meiji Restoration - an industrial giant (two years after "Consider Japan" the world woke up to Japan's success with the Tokyo Olympics) led directly to the British Government's trade promotion activities that I listed in my last article on the blog, the setting up in the early 1970s of the Exports to Japan Unit in the then Department of Trade, and the emphasis in this Embassy's work on trade and investment links with Japan,that lasts to this day. Do read the "Economist"'s obituary of Norman Macrae - it is a tribute to a massively influential thinker, whose impact is still felt today in the work we do here in Tokyo.

Consider Cox's Bazaar

The idea of developing Cox's Bazaar as world destination hub (rivaling the world trade multiplying potebtial of dubai or hong kong or singapore) and offering the region's 21st C gateway to bangladesh, india and china was too good for Norman not to want to celebrate it with its author Dr Muhammad Yunus. This Norman did in his last public birthday party with 40 Londoners and Dr Yunus at the Royal Automobile Club London Saint James 2008, by sponsoring 2000 yout book club and 10000 youth dvd club of dr yunus, and bequeathing funds for Glasgow Interdepenece Day and 70th birthday wish weekend with Dr Yunus 4 July 2010. Norman's last article is circulated in the consider banagldesh pamhoplet used at his remberance parties and we welcome similarly bold yout colaboration ideas at

Norman loved cox' bazaar as he spent his last year as a teenager navigatinfg raf planes over this port - and noted how efficiently its infrastructure started being developed by the Americans compared with Chittagong which the Brits were responsible for developing during the world war 2 . Norman's viewpoints on peace as biggest economics compass of starting up 21st C are here.

Happy 2014 from Norman Macrae Foundation

Over the 24 months of 2014-2015 we will be reporting connections between youth summits wherever we can linkin and assemble micro-wikis around the above issues - you can help us here: Googledoc the most collaborative 24 month race youth have played



PC1 Was it a mistake for a book, whose main economic recommendation was that open education would be the net generation's greatest ever entrepreneurial freedom to start with valuing how to network peace?

APC1.1 Timing is everything in mediating transformation in worldwide  system futures. Noran argued that 1984 was the greatest opportunity since world war 2 for citizens to vote against governments spending (through tax) a fifth of all their lives on arms.  Why 2014 is the other greatest youth opportunity to bid for worldwide peace


APC1.2  None of his obituary writers at The Economist or elsewhere understood Norman's timeline: spending his youth in parts of Europe ruled over by stalin or hitler, spending his last days as a teenager navigating raf planes over modern day Bangladesh and Myanmar, going up to Cambridge to be mentored by keynes that the number 1 system design job of economist is to end hunger and that youth should never let those in power divorce the future compounding disciplines of economics and peace


APC1.3 Ironically all those readers and investors in the entrepreneurail revolution curriclum which Noramn spent 40 yeras editing The Economist from number 3 weekly uk journal to one of a kind global viewspaper understood how the search for peace was embedded in all his major surveys: as the only journalist to be at the founding of the EU, as the journalist who believed the deviation of the BBC fgrom world service was the greatest missed opportunity in mass media, as the journmalist who cheered on Japan as the most value multiplying nation of 1962 and asia pacific worldwide yoyth region liberating china as the turn of the millenniums greatest opportunity for youth to design colaborative millennium goals and action networks around


APC1.4 Dismally few of the 21st C most famous economist undersrand the curiculum of economics that Keynes mentored his alumni including Norman on:

1 the core job of the economists is to back whatever system designs she or he believes will help the human race unite to end poverty ( see the last Keynes last essay on persuasion); see also last 3 pages of Keynes general throory on why yoth's grearest enemy is a particular type of elderly academic economist who is most prone to pad his pension with funding from big governments on indsutry sectors that have lost that purspoe which has most relevance to producing future livelihoods.


how do humans design futures?-in the 2020s decade of the sdgs – this question has never had moore urgency. to be or not t be/ – ref to lessons of deming or keynes, or glasgow university alumni smith and 200 years of hi-trust economics mapmaking later fazle aded - we now know how-a man made system is defined by one goal uniting generations- a system multiplies connected peoples work and demands either accelerating progress to its goal or collapsing - sir fazle abed died dec 2020 - so who are his modt active scholars networks empowering youth with his knohow n- soros with jim kim paul farmer leon botstein and with particular contexts- girls village development and with ba-ki moon global climate adaptability where cop26 november will be a great chance to renuite with 260 years of adam smith and james watts purposes there is no point in connecting with system mentors unless you want to end poverty-specifically we interpret sdg 1 as meaning mext girl or boy born has fair chance at free happy an productive life as we seek to make any community a child is born into a thriving space to grow up between discover of new worlds in 1500 and 1945 systems got worse and worse on the goal eg processes like slavery emerged- and ultimately the world was designed around a handful of big empires and often only the most powerful men in those empires. 4 amazing human-tech systems were invented to start massive use by 1960 borlaug agriculture and related solutions every poorest village (2/3people still had no access to electricity) could action learn person to person- deming engineering whose goal was zero defects by helping workers humanize machines- this could even allowed thousands of small suppliers to be best at one part in machines assembled from all those parts) – although americans invented these solution asia most needed them and joyfully became world class at them- up to 2 billion people were helped to end poverty through sharing this knowhow- unlike consuming up things actionable knowhow multiplies value in use when it links through every community that needs it the other two technologies space and media and satellite telecoms, and digital analytic power looked promising- by 1965 alumni of moore promised to multiply 100 fold efficiency of these core tech each decade to 2030- that would be a trillion tmes moore than was needed to land on the moon in 1960s. you might think this tech could improve race to end poverty- and initially it did but by 1990 it was designed around the long term goal of making 10 men richer than 40% poorest- these men also got involved in complex vested interests so that the vast majority of politicians in brussels and dc backed the big get bigger - often they used fake media to hide what they were doing to climate and other stuff that a world trebling in population size d\from 1945 to 2030 also needed to map. so the good and bad news is we the people need to reapply all techs where they are only serving rich men and politicians od every party who have taken us to the brink of ending our species- these are the most exciting times to be alive - we the 3 generations children parents grandparents have until 2030 to design new system orbits gravitated around goal 1 and navigating the un's other 17 goals do you want to help/ 8 cities we spend most time helping students exchange sustainability solutions 2018-2019 BR0 Beijing Hangzhou: BR6 Geneva, Luxembourg, BR2 Dhaka, Delhi, BR1 Tokyo, Seoul

Map with Belt Road Imagineers :where do you want to partner in sustaining world

Our search for top 50 World Record Jobs Creators begins with E1 Xi Jinping - World's Number 1 Job Creator - Peoples Global2.0 

Girls world maps begin at B01 Bangladesh economical miracle of 15 million poorest village mothers grasssroots networking -good news reporting with and and


online library of norman macrae--


correspondence welcomed on 50 year curriculum of Entrepreneurial Revolution and net generation as most productive time to be alive -

MA1 AliBaba TaoBao

Ma 2 Ali Financial

Ma10.1 DT and ODPS

health catalogue; energy catalogue

Keynes: 2025now - jobs Creating Gen


how poorest women in world build

A01 BRAC health system,

A02 BRAC education system,

A03 BRAC banking system

K01 Twin Health System - Haiti& Boston

K02 Twin YouthWorldBanking: Haiti& Bkash (BRAC)

K03 Twin Open Society : Budapest-Rome - Economists and Peace Champions

A04 Africa & Asia's 5 Billion Peoples eleraning satellite Yazmi

A05 Triplet Open Apps Media Labs of Ethiopia and MIT and Ma-Lee (worldwide China)

Job creation case Y01 Foundation of Grameen Bank- good news in association with
Ma 10,2 grameen inteldt

Ma 10.3 IHUB/Usha Kenya DT

Ma 10.4 Kenya nanocredit

Ma 10.5 MIT top ten mobile app labs of open tech

Ma 10.6 berners lee www

KMAS1 Kimchoices KMAS1.1 Ki-Moon KMAS1.2 Sun F Yang Lan

W4E1 telecentres for girls jobs

W4E2 womens nanocredit










MEDIALABNegropronte > Yazmi


AFM00 Samara and AfricaStar and Yazmi
AFM10 IHUB/Ushahidi
AFM11 MIT Media Lab Africa
AFM12 MIT D-lab and Abdul Latif with Toyota
AFM121 Polak last mile multinationals africa –eg green energy and clean water distrib
AFM13 Ibrahim Foundation
AFM14 Africa24tv
TB1 Free University and Jobs Schools
TB11 Open Learning Campus Africa
AFM15 Young Africa Society –world bank ypa milennials’ goals 2.1
AFM2 Jamii Bora –end slums youth banking and partner labs
TB20 Primary financial literacy curriculum – eg Afaatoun out of Orphanages
AFM21 Bridges primary schools
TB21 Love of self- empowerment curriculum – eg Maharishi (TB1)
TB22 Coding curricula from primary up
AFM31 Kiva Africa
AFM32 Acumen
AFM33 BRAC African Girl Jobs-creating banking
AFM34 Eagri-Africa
AFM35 African health millennials www –and PIH Rwanda, Free Nursing College Africa
AFM36 Mara Foundation
AFM5 Nanocredit
AFM6 USADBC - diaspora association benchmarking african food security value chains
AFM61 –diaspora multi-country celebrations eg AfricaTip (AgeTip)
AFM612 Makerfaireafrica
BOM1 berners lee
BOM2 mit every students an entrepreneur
BOM21 MIT100k
BOM3 mit media lab -open source wizard entrepreneurs and new commons
BOM30 Negroponte $100 Laptop
BOM31 Joi Ito
BOM32 reclaim our learning
BOM4 MIT open education movement
BOM5 Legatum
BO51 Legatum millennials and fans
BOM52 networks of cashless banking technolgists
BOM53 innovations journal
BOM6 partners in health/brigham womens hospital
BOM61 value chain networks club inspired by pih and world bank millenials
BOM62 ypchronic
BOM64 Haiti training hospital - connector of neraly free nursing college
BOSF1 Kiva and puddle
BOSF2 Khan Academy
BOSF3 Coursera segment interested in Open Learning Campus

communications and community banking links series 1 and 2

Out of The Economist since 1972 Macrae's viewpoint Entrepreneurial Revolution argues that the net generation can make tremendous human progress if and only if educators, economists and all who make the biggest resource integrate youth job creating into the way their worldwide purpose and impact is valued join in ... 43rd Entrepreneurial Revolution Youth Networks Celebration..

job creation survey

discuss valuation video

Norman Macrae Foundation


Wash DC tel 1 301 881 1655




For how many of The Economist's first 175 years was it the most effective mediator of sustainability exponentials of humanity all over the planet


best million-youth moocs hosted by economists


discuss valuation video

hottest youth-spring question of our life and times-can online education end youth unemployment for ever ? yes but only if you help map how!

moocyunus launches youtube competition -what would purpose of youth's favorite free online university be?

join blog of moocyunus


 The Economist- when first seeing youth experiment with digital networks in 1972,

Season's most urgent collaboration debates:

next 100 million jobs nursing

42nd year of 7 wonders if thinkpad of The Economist's genre of Entrepreneurial Revoution

40 years of notes from archives of entrepreneurial revolution 1-7 a...


help catalogue top 100 microfranchises


help catalogue 100 short videos on right old muddle of anti-youth economists..

Dad (Norman Macrae) created the genre Entrepreneurial Revolution  to debate how to make the net generation the most productive and collaborative . We had first participated in computer assisted learning experiments in 1972. Welcome to more than 40 years of linking pro-youth economics networks- debating can the internet be the smartest media our species has ever collaborated around?

Foundation Norman Macrae- The Economist's Pro-Youth Economist

5801 Nicholson Lane Suite 404 Rockville MD 20852   tel 301 881 1655 email

Main Project webs including as lead open education partner of mandela elders and branson

2013 = 170th Year of The Economist being Founded to End Hunger

2010s = Worldwide Youth's most productive and collaborative decade

 1972: Norman Macrae starts up Entrepreneurial Revolution debates in The Economist. Will we the peoples be in time to change 20th C largest system designs and make 2010s worldwide youth's most productive time? or will we go global in a way that ends sustainability of ever more villages/communities? Drayton was inspired by this genre to coin social entrepreneur in 1978 ,,continue the futures debate here

world favorite moocs-40th annual top 10 league table

  • 1) e-ME
  • 2) 8 week tour of grameen curriculum and uniting human race to poverty museums
  • 3) 8 week tour of brac curriculum and mapping microeducation summit for post 2015 milennium goals

send votes to , Macrae Foundation

  • 4) 8 week tour of africa's free university and entrepreneurial slums
  • 5 what to do now for green energy to save the world in time
  • 6 nurses as 21st world's favorite information grassroots networkers and most economical cheerleaders more



  • 7 how food security as a mising curricululum of middle schools can co-create more jobs than any nation can dream of
  • 8 pro-youth economics and public servants
  • 9 celebrating china as number 1 creditor nation
  • 10 questions worldwide youth are asking about what was true last decade but false this decade because that's what living in the most innovative era means

archives at The Economist


Number 1 in Economics for Youth

The unacknowledged giantcelebrate unacknowledged giant

dannyboyle chrispatten butler-sloss marianowak tomhunter MYunusgeorgesoros bernerslee michael palin

Timeless ER from The Economist's Unacknowledged Giant (aka dad Norman Macrae) A  b  c ;;1997 a;;; 1983 a ;;;1976 a b;;; 1972 a ;;; 1962 a 1956 a - correspndence with optimistic rationalists always welcome -


from please help in 2 ways -nomination of collaboration 100; testify to world's largest public broadcasters such as BBCthat this survey needs their mediation now

Intercapital searches for replicable youth eonomic franchise



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