We have been so quick to blame the titans of Wall Street for the current crisis of credit. For it is easy to censure the masters of the universe, who, with their eight-figure salaries and helicopter commutes from the Hamptons, loaned too much to too many. It is simple to hold responsible Brioni-bedecked executives, for they are powerful and the people are weak. But our judgement has been too swift, and we forget that for ever loan maker there is a loan taker and the voice of the masses is not forgotten, particularly at election time.
Culpability for the current predicament lies, of course with Wall Street, but we must not forget that an equal amount of blame sits on Main Street. Across the world, we have developed a culture of debt and throughout the great expanse of America, the expansion of the last twenty years has been through an explosion of debt. For every Lehman or Merrill banker who will lose his job, there were thousands of everyday people who accepted too much debt and failed to repay it. Banks do not foreclose upon the homes of responsible purchasers, they foreclose those who lived beyond their means. Pundits may take great pleasure in seeing salaried bankers carrying boxes out of their Canary Warf offices, but there sits only half the fault. It is impossible to deny that the American people - particularly those who chose to consume more debt then they could service - hold an equal responsibility for the state that we all now experience. The responsibility of millions of everyday Americans is evident and undeniable - but we, in fact, choose to deny it. This is because we live in a culture of externalisation. So quick are we to blame others, that we do not first look to ourself for the source of problems. I am overweight, not because I choose to eat too much or lack the motivation to exercise. I am fat because McDonalds uses transfats or joining a gym is too expensive. Certainly, we know that, as human beings, we have agency, we have free will. Yet, merely because a large fatty meal is cheap and accessible, it does not force one to consume it. Nor do the expense of gym memberships mitigate the blame for a sedentary lifestyle; last time I checked, there was no fee for running on the sidewalk or jumping rope in the basement.
I am poor, not because I lack the effort to work or lack the motivation to succeed. I am poor because society has not offered enough opportunity to me. I was not educated in private schools or born of rich parents, therefore I am excused to being lethargic and subsist on welfare benefits. Needless to say, such logic is flawed - there are many eminently successful people not born of great stature or given great opportunity. Great opportunities are not given, but they are earned. Western liberal democracy is a meritocratic society. One does not need aristocratic titles or hereditary privilege to attain success. One merely needs to work hard and be innovative, and opportunity will avail itself. When we begin to take responsibility for our own situation, exceptional things proliferate.
I am poor, not because I lack the effort to work or lack the motivation to succeed. I am poor because society has not offered enough opportunity to me. I was not educated in private schools or born of rich parents, therefore I am excused to being lethargic and subsist on welfare benefits. Needless to say, such logic is flawed - there are many eminently successful people not born of great stature or given great opportunity. Great opportunities are not given, but they are earned. Western liberal democracy is a meritocratic society. One does not need aristocratic titles or hereditary privilege to attain success. One merely needs to work hard and be innovative, and opportunity will avail itself. When we begin to take responsibility for our own situation, exceptional things proliferate.
But it easy to blame others for our obesity, our poverty or, even our indebtedness. If we are to avert the next great crisis, wether it be in credit, health or climate, individuals must accept that they are primary cause of their situation. There must be a culture of responsibility. Blaming others is easy, but finding fault in yourself is immeasurably challenging. But the easy path is not the road to opportunity, it is the short-term answer to the long-term problem. The voice of an individual amongst a cacophony of many is powerful, and citizens even silently objected to the bailout must take responsibility for their small part in a greater whole. - 15224
Culpability for the current predicament lies, of course with Wall Street, but we must not forget that an equal amount of blame sits on Main Street. Across the world, we have developed a culture of debt and throughout the great expanse of America, the expansion of the last twenty years has been through an explosion of debt. For every Lehman or Merrill banker who will lose his job, there were thousands of everyday people who accepted too much debt and failed to repay it. Banks do not foreclose upon the homes of responsible purchasers, they foreclose those who lived beyond their means. Pundits may take great pleasure in seeing salaried bankers carrying boxes out of their Canary Warf offices, but there sits only half the fault. It is impossible to deny that the American people - particularly those who chose to consume more debt then they could service - hold an equal responsibility for the state that we all now experience. The responsibility of millions of everyday Americans is evident and undeniable - but we, in fact, choose to deny it. This is because we live in a culture of externalisation. So quick are we to blame others, that we do not first look to ourself for the source of problems. I am overweight, not because I choose to eat too much or lack the motivation to exercise. I am fat because McDonalds uses transfats or joining a gym is too expensive. Certainly, we know that, as human beings, we have agency, we have free will. Yet, merely because a large fatty meal is cheap and accessible, it does not force one to consume it. Nor do the expense of gym memberships mitigate the blame for a sedentary lifestyle; last time I checked, there was no fee for running on the sidewalk or jumping rope in the basement.
I am poor, not because I lack the effort to work or lack the motivation to succeed. I am poor because society has not offered enough opportunity to me. I was not educated in private schools or born of rich parents, therefore I am excused to being lethargic and subsist on welfare benefits. Needless to say, such logic is flawed - there are many eminently successful people not born of great stature or given great opportunity. Great opportunities are not given, but they are earned. Western liberal democracy is a meritocratic society. One does not need aristocratic titles or hereditary privilege to attain success. One merely needs to work hard and be innovative, and opportunity will avail itself. When we begin to take responsibility for our own situation, exceptional things proliferate.
I am poor, not because I lack the effort to work or lack the motivation to succeed. I am poor because society has not offered enough opportunity to me. I was not educated in private schools or born of rich parents, therefore I am excused to being lethargic and subsist on welfare benefits. Needless to say, such logic is flawed - there are many eminently successful people not born of great stature or given great opportunity. Great opportunities are not given, but they are earned. Western liberal democracy is a meritocratic society. One does not need aristocratic titles or hereditary privilege to attain success. One merely needs to work hard and be innovative, and opportunity will avail itself. When we begin to take responsibility for our own situation, exceptional things proliferate.
But it easy to blame others for our obesity, our poverty or, even our indebtedness. If we are to avert the next great crisis, wether it be in credit, health or climate, individuals must accept that they are primary cause of their situation. There must be a culture of responsibility. Blaming others is easy, but finding fault in yourself is immeasurably challenging. But the easy path is not the road to opportunity, it is the short-term answer to the long-term problem. The voice of an individual amongst a cacophony of many is powerful, and citizens even silently objected to the bailout must take responsibility for their small part in a greater whole. - 15224
