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America's MAIN Street ~ Politics and Policy Frame the Game - Context Matters... In The ModularWorld there's no such thing as Free Market Capitalism. Capitalism and Politics are Reflexive...It's not our job to make policy. Our job is to analyze and anticipate the outcome of various policy initiatives for our clients, deduce their results in the markets and stay a step ahead of the competition.

 

 www.mwpennsylcaniaave.blogspot.com

 It's The Culture Stupid!

Published on More Intelligent Life (http://moreintelligentlife.com)

 By Robert Butler

Created 30/12/2011 - 12:15

 

~ Posted by Robert Butler, December 30th 2011

 

In 1992, Bill Clinton beat George Bush to the presidency with the slogan “It’s the economy, stupid”. Twenty years later, this phrase looks even more of a simplification than when it first surfaced. The current financial crisis has shown us the economy is part of something much wider: it’s the culture, stupid.

 Readers of Michael Lewis’s new book “Boomerang” have been taken on a hair-raising tour of Germany, Greece, Iceland and America during the financial crisis, “Boomerang” shows how the economies are very different because the countries themselves - and their attitudes toward finance - are very different.

 But this is a crisis for financial experts too. Gillian Tett, US managing editor at the Financial Times, told the BBC this week that for the last twenty or 30 years people had been trained to think that if they had a computer spread sheet and lots of numbers and equations they could not only predict the future but also control the economic environment.

 "The great wake-up call of the last year is that it’s actually about the social and political fabric and the question of what’s going to happen to the Eurozone or the UK or the US really depends on politics and the culture and the way that societies behave and people just aren’t trained to understand that or analyse it."

 Tett, tipped as a future editor of the FT, may have a head start: she has a PhD in social anthropology.

 

Robert Butler is online editor of intelligent Life...

 

Democracy, Culture & Capitalism...

 

The pull of value, mediated by valuation, contracting, and guidance technologies, influences the paths of development of design and artifacts. The promised reward to those seeking value will be greatest along the paths that correspond to high perceived market value. For their part, the technologies of contracting and guidance will affect both what designers can see and how they seek value. As a result, the artifacts that arise in an advanced market economy will be different from those realized in primitive or planned economies. That is why the organization of the economic system is important to us as we attempt to understand the evolution of complex designs of artifacts like computers.

     Thus we need to look at the economic system as a whole, using three technologies - valuation, contracting, and guidance - as our lens. 

Hat Tip ~ Design Rules, The Power of Modularity


 

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