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May 23, 2007
The Triple E
J.Pozuelo-Monfort, MSc candidate in economic development at LSE.
Extreme, External, Eternal
Published at elPeriódico.cat (In Catalan).
The three words that the debt and the poverty of the developing world have in common.
Extreme because debt and poverty have reached levels that are so regretful, so inhumane, and so beyond the normal levels, that need to lead to serious thinking in the industrialized world as to when and why this has happened.
External because the current levels of debt and poverty have been fostered by external causes. Their root might be in the developing world itself, but oftentimes not in its citizens, but in its corrupt leaders that once upon a time where given a wildcard to borrow as much money as they felt they needed to undertake their personal vision, far away from being backed and supported by their own citizens.
Eternal because debt and poverty risk to be long-time companions of a world that heads off in the wrong direction. An unequal world that operates according to the rules of a minority that is powerful and wealthy. An unequal world that operates according to the rules of a select club of nation-states unable to move forward and face the real challenges of the XXI century.
The Triple E. A challenging trilemma. One wonders who in this world of ours is responsible and can be accountable for a change. We are reaching a point in which the developing world will cry out loud and say it is enough. It is enough. We need public administrators ready to deliver. We need public administrators eager and willing to deliver. A huge responsibility lies on our shoulders as citizens of a democratic world whose leaders are not being consecuent and coherent.
The Triple E. Let's get to work.
Posted on 23 May 2007 in Development, Social Entrepreneurship, Philanthropy, Corporate Responsibility, Corporate Governance
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