by wbhawkins
Our economy lacks purpose
1:39 pm in business by wbhawkins
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“The economy’s central problem isn’t a lack of demand, or a lack of supply — but a lack of purpose“, according to Umair Haque at the Harvard Business Review.
It’s an interesting statement but what does it mean? His article talks about the two arguments in play at the moment on the economy where one says ‘cut’ and the other says ‘spend’. His argument is that this is the old way of thinking about the economy, an economy founded on an industrial past which the developed countries no longer have and which the developing countries are experiencing.
How do the developed economies compete in a world which has changed so rapidly? More than focusing on just products and supporting old industries which have failed (e.g. the car industry), he suggests we rethink our approach to living in a post-crash society and we take , a more creative approach to building our futures.
He has got a point.
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