DEMOcracy – MON(K)EYcracy - the Great Illusion

12th International Conference on Corporate Governance & 3rd Global Conference on Sustainability, 10-12 October 2012, London

10 Pages Posted: 9 May 2013 Last revised: 15 May 2013

See all articles by Gilbert Fayl

Gilbert Fayl

The Global Round Table

Ulric Fayl von Hentaller

The Global Round Table

Date Written: October 12, 2012

Abstract

In spite of a massive advisory potential that exists worldwide, the World community found itself unprepared when faced with the current financial crisis.

“The world economy is facing a severe challenge, almost certainly the worst one since the depression of the 1930’s. This could be the end of the age of over-emphasising shareholder value, even the end of the consumption society.” (Reference: see Footnote 1, p. 2.)

An example of main concern is the situation in the European Union where the crises has high-jacked the Union’s agenda and put a stone in the machine of the Union’s integration process.

The authors aim to raise a number of timely and relevant issues: · Will we continue with the great illusion that the market will sooner-or-later find the right solution?

Or: · Are we ready to admit that something else must be done? · Are we ready to admit that the political leadership alone cannot save us? · Could the Institute of Directors play a more active role in “ringing the bell” when the shadow of a crises is in the horizon?

Keywords: Current crisis, advisory potential, forewarning mechanism

Suggested Citation

Fayl, Gilbert and von Hentaller, Ulric Fayl, DEMOcracy – MON(K)EYcracy - the Great Illusion (October 12, 2012). 12th International Conference on Corporate Governance & 3rd Global Conference on Sustainability, 10-12 October 2012, London. Available at SSRN: https://ssrn.com/abstract=2262507

Gilbert Fayl (Contact Author)

The Global Round Table ( email )

Nachtegalenhof 3
Brussels/Sterrebeek, 1933
Belgium
+3223050626 (Phone)

HOME PAGE: http://www.global-roundtable.eu

Ulric Fayl Von Hentaller

The Global Round Table ( email )

Nachtegalenhof 3
Sterrebeek, 1933
Belgium

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