What is a better world?

Everyone seeks a better world. What is it, then?

Taro Aso, the prime minister of Japan, stated in his speech in davos.

http://www.youtube.com/watch?v=A8vxkTozAdE&feature=related

First, it is a world in which each and every individual can develop his or her potential through his or her own efforts.

Second, it is a world that values diversity, including diversity of races, of ethnicities, and of religions.

Third, it is a world with a resurgence of economic rationality with a balance between competition and regulation.

I can totally agree with this idea. Not only that these could be universally important in this modern world, but also these three conditions can be connected to the present challenges that global society is facing at.

However, one thing I want to say is: why he, actually the bureaucrats that support him, doesn't speak out the ideal picture of the society when he makes a speech in Japan? Maybe he does, but it is not so highlighted and each policy seems not to be connected to that picture. I dislike the ambiguous way of politics.

In terms of the goal showned by a leader of Japan, I appreciate the slogan "toward a beautiful nation" introduced by Shinzo Abe, the ex-prime minister of Japan. This kind of key word makes people aware of the politics more, which means an impressive key word can lead people.

Before restoring the consumer confidence, the governors may restore the people's confidence as a Japanese.

Needles to say, if the slogan contains some forms of global awareness, that's highly better.

The essences to become someone

From what I've felt today having a conversation with good friends, I thought the following essences are important to become someone.

-Have a global perspective. Don't confine your focus within narrow, trivial things.

-Be proud of what you've achived. The accumulation of steps that you've taken brings you another, oftenly exciting step.

Broad focuses foreseeing the future, and daily activities. That makes you an interesting person.

Greed is...

http://www.youtube.com/watch?v=Sq_9xr4rrZ0&feature=related

"Greed, for lack of a better word, is good. Greed is right. Greed works. Greed cuts through and captures the essence of evolutionary spirit."

This is a scene from the film "Wall Street", a story of a young stockbroker named Bud, once succeeded with the backing of a powerful and greedy gentleman named Gekko.
Gekko had a speech as the biggest share holder in front of the company managements, and showed his philosophy of greed.

This represents one extreme side of capitalism. Greed shapes the world better, as the great economist Adam Smith had said in his famous work "The wealth of nations". However, in this film, Bud was finally arrested for his violating federal securities laws. And, though it stayed ambiguous in the film, Gekko could be arrested for Bud's cooperation with the federal authorities. I don't know. Gekko also could escape from being arrested. His greediness would urge him to take every conceivable means. The conclusion depends on your imagination.

I hope he will be arrested if it were a real story. The economy system should be kept healthy. Greed could be good, as Gekko said. You can rack your brains to invent some revolutionary way to earn, and the way you invented could maximize the utility of individuals. That's a contribution to the society. That's what the system should be.

What now people need would be a more realistic way of "greed management" that assures healthy and sustainable development.

global financial system

Global financial system seems to be transformed... and I believe that's needed.

Looking back one or two decades, there were too many financial crisis happend, which means the system have not been well designed yet. We still don't know what's the best financial model, considering too many factors such as international politics, religious conflictions, and an appropriate balance between efficiency and equality.

There can be seen tons of critisizing IBs, some of which are emotional and incoherent. I interpret that those include a kind of scapegoating. It is too much easy to blame those who earned so much. But who bought the products of IBs, urged by their own greed? Who was responsible to regulate economic activities?

However, in my opinion, two ingredients in the present financial system are needed to corrected:
One is the possibility of controlling the stock price spectacularly by dominating a company's share.
The other is the fragile way of risk hedging showned as CDO, CDS, and so on.

On top of that, some experts insist the importance of "morality" and "long term view".
Those could also be the key words for the new system, though I cannot see any concret way to include those elements into the market rules.

The aftereffect of the Era of Excess will confuses us for a long time.