Gabriel’s Tsunami

An analysis of the economic crisis

by Gabriel Timar

Part 3: How can we avoid the next crisis?

If you examined the reasons for this deep economic crisis with me, I might not have to say anything. Nevertheless, I am going to summarize it, knowing that most of my suggestions will fall on deaf ears, like my other rather well-founded scientific conclusions about the environment.

Perhaps the most important consideration is the balance of production and the market. This means no growth, at least no more than the actual population increase.
Settle all conflicts quickly, preferably by negotiation. If violence is unavoidable, try to get it over with fast. A protracted war is the worse thing that could hit a country’s economy.
Rein in the speed of technology development. Coming up with desirable but otherwise useless gadgets doesn’t help anybody except the manufacturer. Humanity must mature enough to assess the applications of new technologies. There might be a few that are great but do not impact our way of life in a positive way. Communication is great, but when I saw two schoolboys walking on the street side-by-side and texting each other, I thought this was the worst case of technology abuse.
Shrink the corporations and make sure that all contacts between the client and the firm remain personal.
Outlaw mutual funds and the bundling of loans and mortgages.

I could go on and attempt dealing with stock market, politics and many other aspects. However, a detailed solution is not my responsibility. Besides, I hate to repeat myself. Granted, if I did that often enough, instead of a five-thousand word essay I’d end up with a book, but nonfiction is not my cup of tea.

Let it suffice that I wrote this paper just to clear my conscience, just as I did more than fifteen years ago in connection with the environment. I have again delivered my warnings and suggestions. From here on it is up to you.

to Challenge 327…