A new era

manos mundoCapitalism bases their existence in a simple concept, increasing growth of the productive capacity, accumulation and reinvestment of profits, increasing growth of consumption, debt and credit under the assumption of unlimited resources. But resources are not unlimited and capitalism requires a steady expansion that is clearly not possible.
Western countries have been engaged in a virtuous spiral during the past decades, a phase in which everyone was always better (more-and-more), never worse. In the last years of the twentieth century capitalism emphasized the supply side (companies/capital); capital rules the game, capital is the most important and therefore has to have the maximum facilities. But nowadays the framework has changed: global reduction of GDP, increasing unemployment, credit crunch and shortage of resources forces us to assume we will not grow as we have done ever again. It is physically impossible.
We have driven all these years at double speed and we will have to pay a very high price. The growth of the planet has been based on the belief that endless economic growth was possible (even necessary) because technology and financial engineering would solve any arising tension. However debt has become physically unsustainable and consumption capacity is exhausted.  Our system is facing a global crisis.
The systemic-crisis will force us to change the way of doing things, to change the way of working because the former is exhausted. These first years of crisis we have been aware of a prominence number of concepts: coordination, collaboration and accountability. Concepts understood under a premise of operability and optimization of “scarce” resources. Economic actors and institutions, that include banks, must coordinate to achieve a goal that will benefit all.
The conclusion is that much of the solution lies in a reassessment of various aspects of economic and social realities which will be launched by enacting a number of regulatory mandates to be the embryo of a new structure. We cannot afford to turn away from the inevitable, moreover, if we are capable of turning 180º our discourse we will discover innovative alternatives to our past and obsolete policies.
The latest events have led to a feeling of impotence among the financial forces and a growing mistrust of the population. We must be able to anticipate this new scenario, to be pioneers embodying new standards and values that will govern our future economy. The capitalist system as we know it, maximizing profits regardless the consequences and the resources has come to an end. I defend sustainable growth, committed to our environment, our employees and our shareholders but especially to the future of an increasingly globalized-cooperative system is the winning strategy

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