The fall of the Berlin Wall in 1989 marked the failure of communism. It was a great theory – equality, sharing, brotherhood – but it went sour in practice. When walls, barbed wire and machine-guns are necessary to pen in fellow comrades, the system is morally bankrupt.
The sub-prime mortgage crisis that is devastating the stock markets and plunging America into a deep recession/depression marks – like the Berlin Wall – the failure of capitalism. Again, a great theory – free enterprise with a competitive marketplace providing built-in checks and balances – ran aground in practice.
The common factor in the unravelling of these two great theories is human greed. Something in the human psyche, a basic drive, makes us – some more than others – lust for power, wealth and all their trappings. Too many CEOs and managers believe the ends justify any means. Who cares about ethics, regulations, share holders or our grandchildren. It's all about getting obscene salaries, perks and huge severance packages. Conrad Black – now languishing in jail – and Dick Grasso – who somehow "arranged" a $187 million severance package from the New York Stock Exchange – are poster boys for unfettered capitalism.
What a dilemma: two vastly different systems of governance have both been skewered by a simple, basic human trait. So what is the answer?
We must change our mindset. Somehow we need to become more caring of our neighbours and considerate of the future we bequeath our grandchildren. We must diminish our greed. But how? Perhaps topics like happiness, caring and volunteerism should become important parts of school curricula. Instead of obsessing about technology perhaps research should be directed towards these social topics. Perhaps cities can be redesigned around centres that function like villages, offering "communities" where people care and help each other.
Desperately needed is a campaign to conquer greed. Let's talk about this, it's important.
