If you could erase one trend from history, what would it be?
The greed and gluttony of the eighties are a reminder of who we are as individuals. I was in grad school during this era, and the the lessons from that era have trickled down like a monopoly game that nobody is interested in anymore.
And by trickling down nothing actually trickles down. Certainly having investments that do well is a benefit to me. What I want is for that sentiment to benefit all of society. Greed is not good. Corporations are not people.
The world does not need one more billionaire . The world needs billionaires who give back to society.
An idea thrown about in the early nineties the I embraced is the following.
Former U.S. Senator Paul Tsongas argued that mandatory quarterly corporate reporting and its focus on short-term profits hindered the long-term global competitiveness of U.S. businesses. He championed pro-business, centrist economic reforms to strengthen the domestic manufacturing base against international rivals like Germany and Japan.
What he reasoned, was a longer reporting horizon that would avoid profit centered short sighted decision making. I still support this.
I also endorse a system more like European systems that are more employee centric.
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