Interview with Mike Schneider, from “Night Talk”, on Bloomberg TV
If we understand the critical impact that the nature of people’s relations has on the economy, we will understand the kind of economic systems that we must build in order for it to carry out its roles effectively and maintain its stability. When the economic and financial system adapt themselves to the global integral world in which economic ties cross borders and firms, in which people depend on one another and affect one another, it will secure the stability of the socioeconomic system. Only then will the system avoid shocks and frequent crises that take a heavy toll on us.
Yet, not only must the economy change, since the economic and financial systems are reflections of human relations, but the entire international community is also required to provide solutions for restructuring the system of human relations. When our relations begin to change toward bonding, unity, social cohesion, care for others, and mutual concern, we will know how to alter the economic paradigm accordingly.