What I do know is that the World has reached a cross-road in regard to financial and economic matters generally.
This, though, will present an opportunity for a major change in focus; more specifically, how we measure success.
Under the current regime - the one that has been with us since Adam Smith, we are focused on growth - bigger is better.
GDP numbers must grow each quarter or we deem ourselves to be in recession or worse - depression.
In pursuit of our drive for bigger and bigger GDP numbers, profits and the like, Governments spend like crazy, demand more productivity and impose greater immigration.
In response to this I say, what is wrong with Smaller? Or even the Status Quo? As long as our citizens are fulfilled in their day to day lives.
Let me be clear here, I am not for a moment turning my back on Capitalism for indeed it is the only proven, effective way to ensure quality products at as cheap a price as possible. It also treats individuals evenly, i.e. those who are prepared to work are rewarded and those who are not willing to work, do no succeed.
What I would like to see though is less reliance on over all growth - growth at all cost. Such an approach to me causes more damage than good - a Country like Canada is deemed to need massive immigration for fear we will lack needed workers in the years ahead. But that brings with it a host of problems that are not easily dealt with such as inner city crime, too much demand on our health care and social services. That is not to say that immigration is wrong - heck this country is made up of immigrants - the natives too, albeit they came here somewhat earlier. But Immigration for the sake of Immigration becomes a problem in itself.
In place of GDP analysis, I would like to see a Happiness/Contentment/Fulfillment (HCF) Measure developed.
A 'Put People First' approach that encourages an individual to do what he or she likes and / or is gifted in doing. Be that painting, writing, working with the elderly, our youth, kite making etc; in addition to the professions.
This would have to be done in the schools and in society to help our kids identify things they want to do in life - be it a plumber or a garbage collector. Or maybe a garbage collector who also collects scrap and in the end makes a fortune in recycling.
Included in this is to have the time to 'smell the roses' to get some real enjoyment out of life - it is too short a time to waste.
So instead of saying each quarter that the GDP rose or fell 1.5% we would say, the HCF rose or fell 1.5%.
This approach would hopefully get more people involved in life - off welfare, or off the business treadmill into something they get a kick out of.
It would mean lessening our expectations since the type of living I am referring to would not always bring in the big salaries. The Cost of Living would need to decline since that is one of the prime reasons why life has become so much of a chore for many of us - 2 wage earners per household earning more and more but less to show for it.
We don't need the big houses, the costly cars and all the bells and whistles, many of us can and should get by with less
and, by so doing, I believe we'd all be much happier.
Regardless of what is done - we as the Boomers are headed for some dramatic changes as we retire and grow older. There will be less younger folks around to care for us - even with massive immigration. We will have to attend to our own needs, the best we can. And we'll probably be better off for it.
We might just as well get started and work at improving our own HCF indexes.
'As I see it...
'K.D. Galagher'
