Umair Haque thinks that we have lost our way:
The real roots of the crisis aren't about liquidity requirements, reserve ratios, or monetary transmission mechanisms. No amount of regulation or rule-making can fix it. And mere "growth" in GDP, as we're discovering, isn't a cure for it.What really caused the crisis was the fact that we didn't care.
I'm kind of conflicted on this because I sympathize with his view, but ultimately I disagree with it. Among other things, he says that:
Culture is what makes a CEO not listen to the beancounting consultants who advise him to offshore — and upskill his workers instead.
As someone who has offshored jobs, maybe I'm culturally empty, but I think I was right to do so.
This is a debate we should all have our personal views on. I think he's wrong, but at least he made me think.