Norman Macrae -The Economist pro-youth economist -bravo sir fazle abed & jack ma
The answer is yes but as George Soros says it will need a complete Rethink of economics (including government, professions, media/commons) from the ground up. This rehinking was rehearsed ahead of time by my father in The Economist in the 1970s in a genre he called Entrepreneurial Revolution- his 1984 book mapped 3 billion new jobs of the net generation empowered by million times more collaboration technology. Banks could be investing in that social mediation. Dad had been mentored Keynes- people like Keynes, Von Hayek, Schumacher, Schumpeter had clarified conflicts that economists and banking needed to resolve from observing how the worst of fascism and communism were the same broken system ultimately run for less than 1% of the peoples. In 2018 The Economist' will be celebrating its 175th birthday of being founded to mediate bottom-up system designs integrating an end to hunger. Help research out which shareholders of The Economist want to lead that celebration
What we need now is a planet-wide uniting of peoples that goes way beyond national boundaries. There is no way to be polite about this: more and more nations will fail their youth unless job creating banks become mainstream. The good and the bad news is that collaboration in the greatest social goals humanity has ever imagined such as ending poverty are highly correlated with celebrating job creating bank systems. This is also why my father spent the last 5 years of his life encouraging 10000 young people to benchmark the original designs of Bangladesh 's poverty-slaying banks- ones that BIll Clinton once clarified had sustained a whole new economic paradigm. This is why dad's last article written in 2008 explained that the 2010s would go into serial slump unless the wall street (compound risk and externalisation) crisis spun through the sub-primes 2000s were branded as the peak of global corporate and public service irresponsibility
So the political problem is immense. In all other respects, the solutions remain remarkable simple and youthful!
1 Make financial literacy a primary skill school - the best work on this curriculum emerged from an Indian orphanage. uch training is now distributed in nearly 100 countries and that's before MOOCs were widely understood.
2 Search out 30000 microfranchises which open source solutions to most of society's most life critical service challenges. A microfranchise is a life-enhancing service solution iteratively rehearsed until it becomes sustainable in one community which is then openly replicated in other communities with analogous sustainability crises. Critically most or all of the value of the franchise remains in the community of production, and local people are increasing empowered to be the service providers (mobuliesed by best for the world advice -something a digitally networked world's greatest economic progress is defined by. So who will open source a life critical service franchise instead of patent a licence fee for every replication. Well that is the role of the job creating bank, politicians who wish to get back to the idea of public service that existed before the tv advertising age replaced hi-trust lives of service with PR. Consequently an integral player in job creating banks and celebrating microfranchises is needs to be reformed public media. See how father described this in his 1984 book mapping 3 billion net generation jobs through collaboration around way above zero-sum models.
The question hi-trust public media needs to have the courage to celebrate is what is the most sustainable purpose that each different global market sector needs to free locally so youth can co-network it. We are talking about inter-generational purposes. the big hairy audacious goals that regenerate, enlighten , restore. These need trillion dollar audits in exactly opposite ways to system designed around:
one most powerful side extracting from every other productive and demanding constituency in a value exchange
exactly opposite ways to externalising across borders
How else can sustainability of a borderless world and our human species expect to evolve given nature's designs which are local up and collaboratively open
Fortunately there are banking systems that have become meta-connectors of hundereds of microfranchises. The problem is there leaders are in their declining years. Its urgent we mooc the knowhow of these epicentres of hundres of microfranchises. Such MOOC capability needs to be pivotal of ll millennium goal summits from this day on. Yes today's youth - linked in by collaboration tcholgy- can co-produce the most human gaols ever dreamed of but only if economics designs capital to invest in such worldwide spirit