Category: Business


40 years to repeat your mistakes

I made an observation recently.

You may or may not know that there have been four major economic recessions in the last 120 years.

1890 Panic of 1890
1930 Great Depression
1970 Little Depression
2010 Credit Crisis

Now, I wonder if you noticed the gap between each of them.  40 years.

Why do you think that is?

I think that may be due to the generation gap – rather two-generation gap. I think history has a way of repeating itself, not because that is the way of things, but because people eventually forget what happened in the past – they make the same mistakes. I hypothesise that the 40 year gap, is the time period that is takes for people to forget – and make the same mistakes.

This may be because the leaders in power at the time of each recession are the grand-kids of the leaders from the last recession. How many people actually remember what happened when their grand-parents were in around? How many know and listened to the stories that our grand parents can tell us? I don’t think enough of us.

Lesson: Listen and learn from your grand parents.

Do you think that this is a reasonable conclusion? Do you think I’m talking bollocks? Let me know, I would really like to discuss it.

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Forming an opinion

The more you read, the more you understand. You become more willing to talk, discuss, argue your points of view.

Over the past year I have done a lot of reading – blogs, articles, books – and a lot of listening – conversations with professionals, experts and experienced people. The result. I have an opinion.

In fair trade, I have my criticisms of the system, my opinions on the problems that persist, and most of all I have suggestions for improvements. Having read a lot and paid attention to arguments, I have formed those opinions. I have identified there are areas with which I agree, and many that I do not.

Similarly, being economically interested, I have read about economic systems and recently watched Milton Friedman’s “Free to Choose” series. This has opened my eyes to a complete Free Enterprise System, where government does not intervene in the matters that belong, wholly, to an individual. I support many of the practices suggested by Friedman, but do not understand some others. Regardless, I have formed an opinion and wish to discuss this with you.

I think in the real world, where people are classified as Left-wing or Right-wing, it is not so black-and-white. Personally, I am perceived as right-wing on some issues, and left-wing on others. But by no means do I completely support all of one side’s arguments over the other side’s.

This leads me to ask the following question: How do you find yourself forming your opinions? And, are they always to the one side of the spectrum?

Look out for the upcoming Vlog 🙂

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