Friday, October 14, 2011

David Korten message to the Occupy Wall Street movement

David Korten, an economist, author, and former Professor of the Harvard Business School, was asked why the Occupy Wall Street movement is striking such a strong chord with such a broad base of our society.  He replied with some verysobering words "The problem is deeply structural.  There's not going to be an economic recovery, and the politicians are not going to take the actions that are necessary.   The leadership is only going to come from the people".  To the protesters he would like to say "The future depends on you.  Have the courage, the world is watching"

He also points out that the income of the middle class has been declining for some time.  We should note that this has been masked for the last two decades by the rise of two income families and a huge increase in personal debt.  These coping mechanisms have reached their limit though, which suggests that we are not going to return to the way things used to be.  Perhaps some people are beginning to realize this.  For others, this goes against their economic ideology and that makes it very hard to accept. 

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