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Interphone, the long awaited study by the World Health Organization investigating the relationship between cell phone usage and increased risk for brain tumors, was finally released last month. The $25 million dollar study was financed by the United Nations, the European Union and the mobile phone industry making it the largest study ever conducted on this topic.
Joseph Stiglitz, world renowned economist and Columbia University professor, is one of the most outspoken advocates for genuine financial reform. He is also a fierce critic of banking excesses and the glaring lack of integrity of politicians, lobbyists, financial executives and government regulators that led to the economic crisis. As a Nobel Laureate with no political affiliation or agenda other than preserving democracy, Stiglitz is an important voice for our time.
Who knew until just a few weeks ago that Big Oil had a contract with God? BP, the self-proclaimed poster child for corporate socially responsibility, got their right to dig one mile below the surface of the sea direct from above.
Do you believe in miracles? Well, brace yourself. We may have another one coming down the pike. Financial reform bills have been passed by both the House and the Senate. Lawmakers are currently working on the final version. We just might see the most sweeping financial reform since the Great Depression within our lifetime.
It is only in true partnership of men and women in government, in spiritual traditions, and in our economic structures that we can together heal the suffering of our modern world.
Remember the Old Boys' Club...? The boring, cranky, devious one that controls the banks, the economy and most of our wealth creation and money supply from behind the scenes? The one where nearly every key position in government is occupied by an Old Boy? Yes, that one.
It used to be that indifferent wealth building and outsized risk was sexy. For thirty years, the world of high rolling high finance was the object of admiration and envy. The chants of “Wall Street sucks” some ten thousand strong in front of City Hall last week signify that the days of glamorous greed are over.
There isn’t even democracy among bankers these days. Community and regional banks are being shuttered around the country by the FDIC to the tune of 218 since 2007. Any bank that levered more than its fair share of capital, suffered huge losses due to bad subprime, and generally managed their money poorly dies a quick painful death as it is swallowed up by the government “safe banking” machine.
Any bank that is except for the Supersized Bailed-out Big Six…
Last Friday, April 9, 2010, something wonderful happened at Princeton University.
David W. Miller, Director of Princeton’s Faith & Work Initiative, attempted to tackle the monumental job of “civilizing” the economy. No small task for anyone let alone the unusually courageous and innovative Miller. Formerly the Executive Director of the Yale Center for Faith & Culture, Miller also taught a popular course in the Management School, “Business Ethics: Succeeding without Selling Your Soul.”
Health care reform has passed into law and officially launched the Age of reform. Put on your boxing gloves as the battle to kill the new equal access to health care becomes more heated and volatile. Change has come to America!
Once upon a time in a far off land of sea monsters and fairies, there was a man named Adam. Now Adam was not the First Man. He was, however, the first man in his society to write down his ideas of man controlling his own economic destiny without the heavy hand of kings. Adam was a moral man and wrote that one’s “enlightened self-interest” and innate moral code should guide him in all matters of money and commerce.
We stand at the threshold of a moral crossroads in American business. Which way will we turn in the new decade is the dilemma before us. Do we retreat to old and tired patterns of indifference? Or do we find the courage to cut a new and hopeful path to the common good?
American business is getting an important lesson in civics as one of the world’s most beloved automakers dramatically and temporarily falls from grace.
The incessant chatter about financial industry legislation reveals more talk and less action. Opponents of financial reform stand to lose big bucks if the status quo is changed. Okay, so they have the right to free speech in the USA, but why would anyone of sound mind and independent means bother to listen to that tired old rant?
Debt. What exactly is debt? Merriam-Webster defines debt as “something owed or a state of owing.” I can think of no other group than college students who should be accustomed to a “constant state of owing.” But what do 18 year-olds fresh out of high school know about debt?
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