Innovative Solution to our economic crisis: Prudence as the vehicle
This morning during my drive to work I was listening to NPR where they were discussing – what else- the latest “Innovation”to come out of Pennsylvania street.
As a congresswoman was being interviewed about her no vote, she mentioned the word “prudence” and expounded on it being part of the mid-western value system. In my world prudence is a universal value, but let us drop this line of thinking for now.
Like everyone else, however, her analysis stopped there and did not take the next logical leap, which is how do we stimulate the prudent people; first as a way of thanking them for being prudent and second as a vehicle for fixing the economic mess that we are being told we are in.
Being in innovation and involved in a daily process of evangelization of new ideas to internal and external audiences, I have come upon the realization that in many instances companies mobilize their entire "enlightened" energy to change the minds of the reluctant few which in may intances are CEO's.
By any measure, this is not a good utilization of resources: the many mobilizing for the reluctant few. Or, taking this logic one step further, those with prudence ought to be the ones to change the minds of the imprudent. With that in mind, here is my recipe for our politicians to consider:
Take the $700 Billion and distributed to the prudent few. Let us say this equals to about $1Million for each prudent family. In case the prudent few become imprudent due to this new found windfall (let us cover for weak human nature traits, like greed) we will have them save at least ½ of it in a prudent bank (thus building bank reserves and loosening credit) and the other ½ they can spend in specific purchases. If they need a car if would have to be American so that we help Detroit and the trade deficit. If in education, it would have to be advanced education in Math & Science so that it can help us compete with China and India. The rest they can use to pay off their credit card debts (the next shoe to drop in American households) and lower their mortgage debt and thus bring balance to their equity holdings.
There you have it, should any politician out there wish to call me on this. Please feel free to do so.
As a congresswoman was being interviewed about her no vote, she mentioned the word “prudence” and expounded on it being part of the mid-western value system. In my world prudence is a universal value, but let us drop this line of thinking for now.
Like everyone else, however, her analysis stopped there and did not take the next logical leap, which is how do we stimulate the prudent people; first as a way of thanking them for being prudent and second as a vehicle for fixing the economic mess that we are being told we are in.
Being in innovation and involved in a daily process of evangelization of new ideas to internal and external audiences, I have come upon the realization that in many instances companies mobilize their entire "enlightened" energy to change the minds of the reluctant few which in may intances are CEO's.
By any measure, this is not a good utilization of resources: the many mobilizing for the reluctant few. Or, taking this logic one step further, those with prudence ought to be the ones to change the minds of the imprudent. With that in mind, here is my recipe for our politicians to consider:
Take the $700 Billion and distributed to the prudent few. Let us say this equals to about $1Million for each prudent family. In case the prudent few become imprudent due to this new found windfall (let us cover for weak human nature traits, like greed) we will have them save at least ½ of it in a prudent bank (thus building bank reserves and loosening credit) and the other ½ they can spend in specific purchases. If they need a car if would have to be American so that we help Detroit and the trade deficit. If in education, it would have to be advanced education in Math & Science so that it can help us compete with China and India. The rest they can use to pay off their credit card debts (the next shoe to drop in American households) and lower their mortgage debt and thus bring balance to their equity holdings.
There you have it, should any politician out there wish to call me on this. Please feel free to do so.
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