Despite the global economy’s myriad of problems, leaders at the World Economic Forum in Davos, particularly those from Europe, seemed more interested in celebrating the euro’s survival, rather than in tackling long-term concerns. Over the last 25 years, our world has moved from one dominated by two superpowers to being dominated by just one, and now to a leaderless, multi-polar world. While we may talk about the G-7, or G-8, or G-20, the more apt description is G-0.

Joseph Stiglitz, The Davos Disappointment – Growing Complacency in a Leaderless World?

We are living in the ruins of a economic/political system that treats the Earth as spoils of zero-sum conflict.This is the context for business, media, and society, today. We’ve moved out of the neoliberal, postmodern era — the ‘post War’ consensus — when the western, advanced economies first stood united against communism, and then ushered in a truly unfettered globalist economy. But we are unable to solve the problems that we have caused, since the interests of the powerful are tied to the money being made by inequity and exploitation of undervalued resources.

Welcome to the postnormal. We are confronted by a growing number of dilemmas — like global warming, immigration, and water — seemingly unsolvable, and which share at their base the inability of our economic/political systems to effectively deal with the Earth as a shared commons. Instead, we are living in the ruins of a economic/political system that treats the Earth as spoils of zero-sum conflict.

(h/t futuramb)

Source: economywatch.com

7 February 2013 17
joseph stiglitzeconomicspostnormalpostmoderndavosshared commons

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