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
Date Written: October 12, 2012
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: Suggested Citation