“2011 will be a decisive year. We will finally see whether we have learned the lesson or whether we continue to take decisions and behave as if the exuberance of the pre-crisis world would return. It is a year where we should definitively recognize that we live in a completely new reality. The context for global cooperation, for national policies and for business models has substantially if not fundamentally changed. One new reality is global interconnectivity and the fact that all challenges must be addressed on the basis of “togetherness”. Thus the most crucial factor in accepting the new reality and confronting its opportunities and risks is our willingness to develop shared norms on all levels. Without such shared norms our reform efforts will remain at best piecemeal and at worst simply lip-service. Shared norms require principles and values. Here again, we should not look to old-world recipes since unfettered capitalism and state-directed collectivism have both been bankrupted as guiding ideologies. Our only way out is the stakeholder concept. This means that the pursuit of our own interests can only be substantially realized by incorporating the interests of all those with whom we have a mutually dependent relationship. This is true on all levels, and in any capacity in which we take decisions: family life, society, business or politics”.
Source: The Economist blog