1. On the issue of generational imbalance, at least modest generational imbalance- borrowing and spending today at a rate that shifts part of the pay back burden to future generations-is often perceived as acceptable. The rationale put forth is that the present generation improves the quality of life for future generations in tangible (smart phones, tablet computers, 3D printing, 3 car garages ) and intangible ways (longer and healthier life span, smoking ban in public spaces, more acceptance of diversity..) and so it is only fair that the future generation bears this burden.
Logically, then, if improvement in quality of life is incremental and continuous, the shift in the payback burden should also be continuous? Do you agree?
2. Martin Wolf, chief economics commentator for the Financial Times, wrote in an article in Foreign Policy (October 30, 2009):
In the advanced market economies, people care deeply about eliminating pain and injustice and ensuring the welfare of fellow humans.This concern exists because a rich, liberal society places enormous emphasis on the health and well-being of the individual. Life is no longer nasty, brutish, and short; rather, it is gentle, kind, and long, and more precious than before.
This passage reminds me of a disturbing phenomenon that you may have noticed in your sojourns outside of advanced market economies or even if you have seen the recent movie \’Slumdog Millionaire\’- and Ill put it bluntly with the usual caveat of a broad generalization- people in these places often are more cruel and apathetic to the conditions of their fellow citizens. Growing up (and above) a mass of people in Calcutta whose lives were indeed nasty, brutish and short, I never quite understood why the Westerners were such suckers- falling easy prey to the hordes of beggars that gathered outside their hotel gates. Yes, I too would give now and then, but not see things with the same eyes, nor with the belief that life is supposed to be gentle, kind and long, and more precious than before.
So, a related question would be: as market economy expands to embrace more and more traditional societies, would morality in the sense discussed above expand in the consciousness of more and more people?
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