Global economic crisis, corporate financial reversals, dissolution of pre-need companies inclusive of bank closures – all these and similar stresses and distresses in the world of business and industry have but the same fundamental causal factors: Greed that promotes corruption which in turn ushers in bankruptcy. Business managed with honest, industry supervised with integrity, and other economic ventures conducted with prudence – all these can and do have their financial ups and downs but neither gross shutdowns nor shameless dissolutions.
The basic truth is that it is man who makes or unmakes himself, who renders precious service or odious disservice to his fellowmen, who brings about appreciated prosperity or devastating misery to his neighbors, who ultimately propagate or instigate war. This is true from the local to the national up to the international levels. In other words, it is man who is a blessing or a curse to himself, others and mankind as a whole. This is not to discount the constructive or destructive force of nature. But just as what nature builds man can improve, thus too what it destroys man can be rebuild.
Greed is a voracious vice of material pursuit that knows neither what is enough nor when to stop getting and keeping. This is why greed foments corruption which is synonymous to dishonest practices, fraudulent dealings not to mention depravity and perversion in money matters. Corruption in turn in business endeavors and industrial enterprises – if unchecked and uncorrected – eventually lead to the latter’s bankruptcy. This is neither a profound truth nor a rare reality.
By the way, there appears to be a good amount of truth in the thesis that a so called global economy may bring about global misery – but not global prosperity. This is precisely one of the grim lessons that the world hopefully is learning from the present financially depressed and depressing international situation. It is said that global economy might work if the global partners are fundamentally equal in their respective economic stature. This is why true to the saying that “When Uncle Sam sneezes, the world catches cold.”, the recession in USA – primarily due to corporate greed on the part of the so called “CEOs” with their close allies – is wherefore equals global financial crisis.
What a huge misfortune and hideous disaster when a Country that is already a dwarf in economic measurement, is furthermore governed with dynastic greed and structural corruption. This simply means that in addition to global economic reversal, that Country is still saddled with its own national financial misery. And such precisely is the grim Philippine situation. There seems to be nothing in the land that is not tainted with corruption, the moment the ruling government with its agencies dips its greedy hands in the “cookie jar” – as evidenced by the quasi interminable Senate inquiries on one corrupt public transaction after another.
February 20, 2009