Saturday, 26 January 2008

Economic Insanity

ESPECIALLY to the younger ones among us, the events of last week must have been one of the worst in their living memory – in economic terms, that is.

All around the world, going around the time zones like some dark and insidious plague, stock markets plummeted to their lowest levels in years, with each successive opening spooked by the results of the one before it.

Billions of dollars in market value were wiped out in a matter of minutes.

But then like some white knight to the rescue, the markets of the Far East sprung into action, buoyed partly by the response of the U.S. Federal Reserve, as well as confidence in their own economies to withstand the possibility of an economic slowdown in the West. And from that wellspring of optimism, a reversal of sorts took place in the major markets, recovering most of the value they lost in that single day of pandemonium. By week’s end, though still fragile, much of the damage seems to have been repaired, at least momentarily.

Difficult to explain sometimes, the financial markets. But perhaps not so strange when you think of who’s behind this amorphous thing called the “the market.”

That’s we, the people, of course.

No wonder then that markets act so strangely sometimes –- being the collective sentiment of thousands upon thousands of individual sellers, consumers, financiers and financial intermediaries interacting with one another in all sorts of ways.

It’s hard to explain the reasons behind these movements most times. If we really think about it, nothing much seems to have changed in our world from, say, a couple of years back. The planet is as populous as ever, climate change is still a major challenge of our time, and peace in the Middle East remains as elusive as it has always been. So why the sudden shift in our economic prosperity between then and now? What has happened to the world that has made us collectively poorer than we were a couple of years ago?

In tangible terms, perhaps nothing much has really changed. But our sentiments have shifted significantly. With the war in Iraq dragging on with no end in sight, worries have started to creep up concerning the future supplies of oil, thereby pushing prices up and putting pressure on costs for all manner of businesses, as well as ordinary consumers.

In response to rising costs, businesses reacted by slashing their organizations, or else exporting parts of their businesses to lower cost overseas locations, displacing thousands of their employees in the process.

Of course, the possibility of losing their jobs has unsettled a lot of consumers, causing them to hold back on their spending in order to prepare for an uncertain future. And guess what? Less consumer spending means lower corporate earnings, which lead to more rounds of layoffs, which lead to even lower consumer spending, ad infinitum.

The global economy is into a deeper and deeper spiral of despair, with no one seemingly able to pull it away from its downward course.

It is safe to say that if the economy were a person, it would have committed suicide a long time ago due to a severe mental disorder, or perhaps it would have already been interred into an asylum for the mentally deranged, for which person could afford to live with the ups and downs that the global economy undergoes every now and again?

The truth is that no person could live a life with the ups and downs of the world economy. But like it or not, we all have to live with the consequences of such seemingly insane economic behavior.

Published in the Sun Star Daily, Saturday, January 26, 2008

Saturday, 19 January 2008

The Covenant

THESE days, it is difficult to turn on the television in Britain and not hear anything to do with gang violence.

Just this morning when I was getting ready to work, I was greeted with the heartbreaking scene of a widow crying to reporters outside the courthouse where her husband’s teenage murderers had just been sentenced for their crime. In some areas, things are supposed to have gone so bad that a number of schools have had to resort to American-type screenings for schoolchildren entering the premises, looking into their schoolbags for everything from knives, guns and an assorted array of deadly weaponry.

From all indications, it seems that the tendency for youths to join gangs has been on the uptrend, alarming authorities in the country, who appear to be helpless to stop the phenomenon.

In one informative program that I saw on the issue recently, one commentator expressed a view that seemed to me to hit the nail right on the head vis-à-vis the reason for the uptrend.

He said that youths turn to gangs as a proxy for the sense of belonging and affiliation that they do not receive in their own families.This, in a sense, is very true.

In modern day Britain, in most of the Western world, and indeed even in growing economies like the Philippines, families are becoming more and more fragmented. Either because of changing family values, the pressures of work or a combination of any of the other stresses of modern-day living, the family is losing its cohesion. Even in matters of discipline, parents have now outsourced this to schools and state authorities, conveniently blaming everyone but themselves for the problem.

In a perverse sense, one can understand why youths are drawn to their gang affiliations. Albeit in a very distorted sense, gang members have a deep sense of unwavering loyalty to each other, pledging total allegiance to the group, whatever the consequences. More than anything else, it is the sense of loyalty for each other that bind them together, and make gang life so attractive for disenchanted young people.

Commercial organizations can learn from this in a very significant way — not the violence mind you, but the impact that the perception of total loyalty has in terms of galvanizing groups into action.

Many of today’s organizations have lost the loyalty of their employees, because they have been unable to provide the assurance of total loyalty to their staff. Just as respect begets respect, loyalty to employees begets loyalty from employees.

Sadly, these days this is no longer the case.

As Scott Adams’ cartoon character Dilbert says in a famous cartoon, employees’ are no longer the company’s greatest resource. They are now seventh, right behind carbon paper and paper clips.

Behind the gallows humor is a painful truth. Too often, companies do what they do without regard for the potential impact these decisions may have on their employees.

Information about important and life changing situations like mass layoffs, business closures and job redundancies are kept well away from employees until after it is too late, rendering them unable to take the necessary steps to look after themselves.

Is it any wonder then that in today’s climate, employee loyalty has become a scare commodity to come by?

Published in The Sun Star Daily, Saturday, January 19, 2008

Saturday, 12 January 2008

Openness

FUNNY how these days, it is not easy to talk about workplace matters with your colleagues anymore. I used to remember a time when people were more open about their thoughts and opinions about work, and how stories around the “water cooler” or the “coffee machine” were seen as the real pulse of the organization.

Due to the uncertainty that tends to accompany the modern working environment, a lot of talk these days tends to be sanitized and neutral, and doesn’t tell you very much about what people are really thinking.

It was, therefore, somewhat of a surprise when a colleague of mine, who I am very cordial with, but with whom the topic of conversation tended to be limited to football most times, suddenly remarked to me on our walk from the car park that he felt “the culture of the company was changing, and changing too fast.”

This was the cue that I was waiting for, in terms of probing what he actually meant by that declaration. And taking my probe as his cue, he in turn started telling me his real thoughts on what he perceived was really happening.

It turns out that he was feeling what everybody else was feeling — a sense of alienation and neglect over the things that were clearly happening for everybody to see, but yet were not discussed honestly and openly with everybody else.

Change is certainly a feature of the modern-day workplace. This is something that cannot now be reversed. Even the Japanese have now moved away from the lifetime employment practices, and the French have started to adapt to the Anglo-American way of doing things as well.

It is therefore not the change itself, but the way that it is communicated to the people within the organization, that is critical. After all, it is people who make up an organization, and it is perhaps only proper that they know exactly what is happening to them.

There is something to be said about keeping things open and transparent. Even the nuclear family itself is adapting to this reality, and it is now not uncommon for family members to vote on issues of mutual concern — with Mom’s and Dad’s votes counting just as much as Junior’s.

Organizations, however, seem to be reticent in being as open with their affairs. But then, they live with the consequences of this choice.

In the military, where we know the overriding importance of loyalty and trust under fire, soldiers consider themselves comrades-in-arms, and are therefore sworn to look after each other’s backs and to leave no one behind.

It is this sense of assurance that allows them to be a cohesive unit, with each one knowing exactly where they stand.It is not probably quite as life-and-death in most organizations as it is in the military, but the principle remains the same. When people know exactly where they stand, they will give their all, and then some. And this, of course, is the most important – secure people are productive individuals, who will eventually contribute to the achievement of the organization’s goals.

The reverse is true as well.

If an organization sends the message to its workforce that their views do not count, and that they should just sit tight waiting to be told when the next sequence of events is going to unfold, they are clearly not going to be as committed and as dedicated to the organization that does not treat them with the total honesty and openness that they deserve.

Published in The Sun Star Daily, Saturday, January 12, 2008

Saturday, 5 January 2008

A Brave New 2008

THERE is a comforting sense of familiarity that accompanies each passage into the New Year.

Allowing for certain local variations, people everywhere tend to celebrate it in almost the same way, invariably to the rousing revelry and merrymaking that accompany the last moments of the year past, and the first of the year just come.

2008 was welcomed with no less enthusiasm-–what with most people having been hit by crisis after crisis in 2007 desperately trying their best to get the old year out of the way as quickly as possible.

And who could blame them? No place in the world, it seems, was spared from some of last year’s most difficult moments.

The lingering uncertainty over peace in the Middle East continued to hold sway over oil prices, which during the first few days of this new year traded at historical highs of over $100 a barrel.

The ever volatile Middle East remained fractious and divided, with even the Palestinians themselves not agreeing on how to deal with its perceived common adversary-–Israel. And the Israelis themselves were no more united in their approach to solving the peace problem than the Palestinians were.

The rest of the world remains as polarized as ever regarding the issue of global security, with countries either taking the hawkish stand of the United States, or the equally belligerent attitude of those opposed to the American solution.

This lingering geopolitical uncertainty consequently spilled over into the economic arena, with record oil prices taking their toll on business costs, as well as dampening the already fragile confidence of consumers everywhere.

To say that 2007 was a very difficult year for most of us would be understating the enormity of the problem.

But will 2008 have us faring any better than the year before?

Most signs say that things are going to get worse, before they get any better.

No one knows for sure how high oil prices will still rise in the new year. Nor is anyone certain just how deep the current credit crisis—precipitated by the collapse of the US sub-prime mortgage market—is still likely to drag the world’s financial markets down too.

And yet as daunting as all of these sound, the sense of optimism that always accompanies the coming of each new year cannot but let us see that it is not all dark clouds ahead.

For the first time ever in our lifetime, our world is coming ever closer to a global consensus on what is perhaps the greatest problem of our age-–climate change.

People’s attitudes everywhere are changing, in ways that we would never have thought possible before.

With the impending regime change in Washington this year, we may yet be closer to solving our common concerns over global peace and security, than at any time in almost a decade.

And while economic prosperity has continued to elude our nation while everywhere else progress seems to be the fate of most of those around us, there are hopeful signs at last that we may finally benefit from the fruits of globalization that seem to have blessed everyone else but ourselves.

And so, as we always have in new years past, let us go forth with prayer on our lips, and hope in our hearts, and make this 2008 the best year yet.

Our warmest New Year greetings to all our readers!

Published in The Sun Star Daily, Saturday, January 05, 2008

Saturday, 22 December 2007

Religion In Politics

A RATHER interesting, and I’m sure totally strange (at least to most Filipinos) phenomenon, happened in British politics last week.

The newly elected leader of the Liberal Democrats – the third largest party in Parliament after Labour and the Conservatives – openly declared on national radio that he did not believe in God.

I could almost hear the gasps among you who are reading this part of the article. What an outrage, you say. A man who does not have any religious faith? That’s just plainly unacceptable, isn’t it? And especially coming from someone who aspires to lead one of the most powerful nations on earth?

How would he govern then, if he were elected? Would he have a firm moral foundation on which his values would be based? What will guide his actions, and make him distinguish right and wrong?

Needless to say, to the Filipino electorate, a local version of Nick Clegg would never be acceptable. Any politician who aspires to be elected to public office must profess to be a man of faith.

Any mainstream religious faith would normally suffice, but usually it is the faith of the majority, in order to ensure the majority’s vote. Openly atheist aspirants to public office just would not stand a chance at all.

And yet in the West, just the opposite is true.

Tony Blair, as it is now known, is a firmly committed Christian – a secret Catholic in the land of the Anglican communion. While it is now accepted that he will eventually embrace the Catholic faith, none of his religious convictions were publicly expressed during his long reign as Prime Minister of the United Kingdom. To have done so would have spelled disaster for him and his party.

For in the land of St. George, the land where the Protestant reformation first sprung, and the land that now professes to embrace people of all faiths within an open and secular society – any talk of the religious is considered out of bounds in politics.

Many people in post-modern Britain do not have any religious conviction. Thus, they regard anyone who holds any religious conviction – especially those who do so with great fervor and devotion – with a great deal of suspicion and mistrust.

While I personally do not agree with the strident, almost militant view against all religion that a lot of people here hold, it is difficult to argue vehemently against them either. Without their politicians openly professing their faith in God, and sprinkling their rhetoric with “Praise the Lord” with every turn of phrase, their society has not disintegrated, as we would assume in our local context.

Contrast this to the scene back home.

Almost to a man (and woman), all of our public servants profess to be adherents of a religious faith. More than that, many of them openly declare, and in fact advertise, their adherence to such faith. And yet, what do we get as a consequence?

It would not be fair to draw direct comparisons. After all, our society is totally different to the UK’s, and religious faith is just one of the many facets that make up our individual societies. But it would also be unfair not to make any attempt at a connection.

The Most Reverend Rowan Williams, the Archbishop of Canterbury, when asked what he thought of Nick Clegg’s declared atheism, replied that he considers it less of an issue, than he would Mr. Clegg’s stand on secular matters such as law and order, social justice and foreign policy.

In a society where openly religious politicians are routinely discovered to be engaging in acts of corruption, isn’t it perhaps time that we took a more secular approach to our choice of public officials?

HAPPY CHRISTMAS, AND BEST WISHES FOR THE COMING YEAR TO ALL OUR READERS!

Published in The Sun Star Daily, Saturday, December 22, 2007

Saturday, 15 December 2007

The Christmas Message

FUEL prices at their highest level ever. An imminent credit crunch that threatens to plunge the world’s economies into a major slowdown.

The mortgage market in the United States in the worst possible shape, dragging down those in other parts of the world along with it. Unprecedented climate change that has already taken its toll with severe flooding in parts of the Indian subcontinent. And especially for England, the prospect of a summer without a team in the European Football Championships!

Surely, events and occurrences to dampen the spirits of even the most resilient of men?

2007 surely was a testing year. And on all fronts at that. The economy, global security, and for the first time in decades – a natural phenomenon that seems to be spiraling out of our control.

We had always assumed that with globalization would come increased tolerance, understanding and integration among the world’s communities.

With all of us surfing the net, visiting the same websites, and playing identical video games, the thought was that we would all eventually “get” one another.

And yet, in some ways there has never been the opportunity for more misunderstanding, at any other time than today.

While most of the simmering anti-Western tension in the Islamic world is politically motivated, a part of it is not. There is certainly a strong undercurrent of resentment against what they see as the decay and moral decadence of Western civilization. All this just adds to their already strong conviction that when they attack targets in the West, they are not only redressing political imbalances imposed by their governments, but also “cleansing” the world of evil, vice and sin.

Back in the days when communities were isolated from one another, we were blissfully ignorant of others’ ways, and were therefore more tolerant of one another by default. For how else could we dislike something we had no idea about?

Today, however, the image of Paris Hilton coming out of a New York night club drunk, half-dressed and with a coterie of drooling men in tow could as easily be viewed in Los Angeles as in Islamabad. This kind of image, when superimposed on an ultra-conservative religious template, is enough to spark revulsion, hate and contempt for everything Western. And certainly, it is more than enough to convince those already armed with a political agenda that they are in the right, and the communities they set out to damage are in the wrong.

Time to reflect perhaps, if ever there was a better time to do so, on the message of that first-ever Christmas, when a child was born among the simple folk of Bethlehem, with a powerful message for all the world.

While we think our world today is a great deal more fractious and strife-torn, it wasn’t all that different in Christ’s time. The Romans were in town, and their way of governing would probably make today’s worst dictator look decidedly benevolent. In short, life was hard —much harder than the situation most of us are faced with today.

And yet it was in those very difficult of times that he chose to come among us, to give us hope.

Christ gave himself to mankind, by being born among them. This is the message of Christmas – the message of joyous giving, just as He joyously gave himself to the world, to save it from sin.

What better message for us to take, as we go forward in these rather difficult times? If we can give joyously of our understanding, our tolerance, our appreciation for one another, and our concern for the world we live in, then perhaps we could make a difference, just as He did on that first Christmas Day.

Published in the Sun Star Daily, Saturday, December 15, 2007

Saturday, 8 December 2007

The Blaspheming Teddy Bear

IT has probably reached Philippine ears by now, this strange, strange saga of a Liverpool schoolteacher in Sudan, who has been threatened with 40 lashes of a cane, for having allowed the children in her class to name their teddy bear Muhammad.

Sudan practices Islamic Shariah Law, where the crime of blasphemy to the Prophet Muhammad is punished rather severely. Unfortunately, naming a bear, albeit a teddy one, after the prophet is a grievous transgression – the rationale being that the bear is a “wild animal” (though a teddy bear surely isn’t, but the Sudanese don’t know that), and something “wild” is surely not in the prophet’s character.

To the West, none of this makes sense. In a society where secular humanism rules, and all religion is considered “superstition” and basically frowned upon, there is just no logic behind the Sudanese action.

Unfortunately, in the Sudanese world view, there is perhaps nothing wrong with what they have done, as far as they are concerned. After all, they are merely upholding their beliefs and traditions, and administering punishment to a Westerner who has broken their laws, just as if she was one of their own.

Echoes of Rudyard Kipling perhaps? East is East and West is West, and never the twain shall meet?

In more ways than we can measure the length of a twain with – yes.

Globalization has forced a convergence of sorts among different cultures and societies. Western consumerism — the new Socialism –- has conquered the world with the speed of the Internet. Trends like business process outsourcing (BPO) have allowed people of erstwhile different backgrounds to work and interact harmoniously and productively, enhancing social integration at a pace that would never have been possible previously.

Having said this, it has also emphasized certain key differences among our societies, and forced us to confront those realities that still separate us.Religion is one of those realities.

With the exception perhaps of the USA, most of Western society has shunned anything religious. Secular humanism rules all aspects of life -– from government, to education and the consequent social institutions they give rise to. Christians and Muslims alike are treated similarly –- as superstitious individuals who are not capable of rational behavior.

Not surprisingly, individuals have lost respect for all aspects religious.

The wearing of religious symbols of any kind is frowned upon in Britain, so much so that even small Christian crosses that are common ornaments for us cannot be worn to the office, at the risk of serious consequences. Even the celebration of religious festivities is downplayed. As we mentioned in this space before, holidays like Christmas have been renamed to strip away their religious connotations, and make them inclusive for everyone.

It is within this greater context that the “teddy bear” furor takes on more significance.

On the one hand, we in the West need to be more sensitive to those beliefs and values that people in other places hold dear. Our “rational” secular humanist values may make sense of the world for us, but they do not necessarily govern the world view of people elsewhere.

And for those of us in societies where the spiritual holds more sway over the temporal, perhaps we need a sense of moderation in our beliefs, especially when it comes to imposing punishment for transgressions that are more accidental than intentional, as this one surely was.

Published in the Sun Star Daily, Saturday, December 08, 2007