What is Karma?

Karma is the Sanskrit word for action.

It is equivalent to Newton’s law of ‘every action must have a reaction’.

When we think, speak or act we initiate a force that will react accordingly. This returning force maybe modified, changed or suspended, but most people will not be able eradicate it.

This law of cause and effect is not punishment, but is wholly for the sake of education or learning.

A person may not escape the consequences of his actions, but he will suffer only if he himself has made the conditions ripe for his suffering. Ignorance of the law is no excuse whether the laws are man-made or universal.

To stop being afraid and to start being empowered in the worlds of karma and reincarnation, here is what you need to know about karmic laws.


- “As you sow, so shall you reap”. This is also known as the “Law of Cause and Effect”.
– Whatever we put out in the Universe is what comes back to us.
– If what we want is Happiness, Peace, Love, Friendship… Then we should BE Happy, Peaceful, Loving and a True Friend.


- Life doesn’t just HAPPEN, it requires our participation.
– We are one with the Universe, both inside and out.
– Whatever surrounds us gives us clues to our inner state.
– BE yourself, and surround yourself with what you want to have present in your Life.


- What you refuse to accept, will continue for you.
– If what we see is an enemy, or someone with a character trait that we find to be negative, then we ourselves are not focused on a higher level of existence.


- “Wherever you go, there you are”.
– For us to GROW in Spirit, it is we who must change – and not the people, places or things around us.
– The only given we have in our lives is OURSELVES and that is the only factor we have control over.
– When we change who and what we are within our heart our life follows suit and changes too.


- Whenever there is something wrong in my life, there is something wrong in me.
– We mirror what surrounds us – and what surrounds us mirrors us; this is a Universal Truth.
– We must take responsibility what is in our life.


- Even if something we do seems inconsequential, it is very important that it gets done as everything in the Universe is connected.
– Each step leads to the next step, and so forth and so on.
– Someone must do the initial work to get a job done.
– Neither the first step nor the last are of greater significance,
– As they were both needed to accomplish the task.
– Past-Present-Future they are all connected…


- You can not think of two things at the same time.
– When our focus is on Spiritual Values, it is impossible for us to have lower thoughts such as greed or anger.


- If you believe something to be true,then sometime in your life you will be called upon to demonstrate that particular truth.
– Here is where we put what we CLAIM that we have learned, into actual


- Looking backward to examine what was, prevents us from being totally in the HERE AND NOW.
– Old thoughts, old patterns of behavior, old dreams…
– Prevent us from having new ones.


- History repeats itself until we learn the lessons that we need to change our path.


- All Rewards require initial toil.
– Rewards of lasting value require patient and persistent toil.
– True joy follows doing what we’re suppose to be doing, and waiting for the reward to come in on its own time.


- You get back from something whatever YOU have put into it.
– The true value of something is a direct result of the energy and intent that is put into it.
– Every personal contribution is also a contribution to the Whole.
– Lack luster contributions have no impact on the Whole, nor do they work to diminish it.
– Loving contributions bring life to, and inspire, the Whole.


What you sow, you reap — pretty much sums it all up.

According to Edward Snowden, people who care about their privacy should stay away from popular consumer Internet services like Dropbox, Facebook, and Google.

Snowden conducted a remote interview as part of the New Yorker Festival, where he was asked a couple of variants on the question of what we can do to protect our privacy.

His first answer called for a reform of government policies. Some people take the position that they “don’t have anything to hide,” but he argued that when you say that, “You’re inverting the model of responsibility for how rights work”:

When you say, ‘I have nothing to hide,’ you’re saying, ‘I don’t care about this right.’ You’re saying, ‘I don’t have this right, because I’ve got to the point where I have to justify it.’ The way rights work is, the government has to justify its intrusion into your rights.

He added that on an individual level, people should seek out encrypted tools and stop using services that are “hostile to privacy.” For one thing, he said you should “get rid of Dropbox,” because it doesn’t support encryption, and you should consider alternatives like SpiderOak. (Snowden made similar comments over the summer, with Dropbox responding that protecting users’ information is “a top priority.”)

[Update: In a June blog post related to Snowden, Dropbox actually says, "All files sent and retrieved from Dropbox are encrypted while traveling between you and our servers," as well as when they're "at rest on our servers," and it points to other security measures that the company is taking. The difference between Dropbox and SpiderOak, as explained elsewhere, is that SpiderOak encrypts the data while it's on your computer, as opposed to only encrypting it "in transit" and on the company's servers.]

[And here's a more complete Snowden quote, from the video: "We're talking about encryption. We're talking about dropping programs that are hostile to privacy. For example, Dropbox? Get rid of Dropbox, it doesn't support encryption, it doesn't protect your private files. And use competitors like SpiderOak, that do the same exact service but they protect the content of what you're sharing."]

He also suggested that while Facebook and Google have improved their security, they remain “dangerous services” that people should avoid. (Somewhat amusingly, anyone watching the interview via Google Hangout or YouTube saw a Google logo above Snowden’s face as he said this.) His final piece of advice on this front: Don’t send unencrypted text messages, but instead use services like RedPhone and Silent Circle.

Earlier in the interview, Snowden dismissed claims that increased encryption on iOS will hurt crime-fighting efforts. Even with that encryption, he said law enforcement officials can still ask for warrants that will give them complete access to a suspect’s phone, which will include the key to the encrypted data. Plus, companies like Apple, AT&T, and Verizon can be subpoenaed for their data.

Beyond the privacy discussion, Snowden talked about how and why he decided to leak documents bringing the government’s electronic surveillance programs to light. He repeatedly claimed that he wasn’t pursuing a specific policy outcome, but just trying to have an open conversation about these issues:

We can have secret programs. You know, the American people don’t have to know the name of every individual that’s under investigation. We don’t need to know the technical details of absolutely every program in the intelligence community. But we do have to know the bare and broad outlines of the powers our government is claiming … and how they affect us and how they affect our relationships overseas. Because if we don’t, we are no longer citizens, we no longer have leaders. We’re subjects, and we have rulers.

As for why Snowden hasn’t come back to the United States to stand trial, he said that when he looked at how the U.S. government treated whistleblowers like Thomas Drake and Chelsea Manning, he became convinced that he wouldn’t be able to present his case to a jury in an open trial.

“I’ve told the government again and again in negotiations, you know, that if they’re prepared to offer an open trial, a fair trial in the same way that Dan Ellsberg got, and I’m allowed to make my case to the jury, I would love to do so,” he said. “But to this point they’ve declined.”



Snowden acknowledged that there’s some irony in his taking shelter in China and Russia, countries that don’t exactly have spotless human rights or privacy records themselves. He said Russia was supposed to be a transit point on his way to Latin America — but his passport was canceled while he was at the Moscow airport.

Posted by: Dr Pano Kroko | October 12, 2014

For those with a big heart even impossible tasks become possible

Posted by: Dr Pano Kroko | October 11, 2014

When a pickpocket met Jesus all he saw was his pockets…

Originally posted on Bleeding Edge Blog:

All things have their time.

All things have their answers.

All things have their right to be.

Accepting this reality, all things come into harmony.

Our mind perceives all things but rarely knows if that which it sees is true.
That is why it relies upon a constant stream of judgement to understand the world.
And that is what makes us all a jumbled judgement machine, believing all kinds of stupidities from TV news to gossip, from historical arrogance to the internet anonymous slander and the bander of libel, and sharing the fallacies of all dogma spewing forth from haters, trolls, and individuals given to be greedy hateful and monstrous reality the experience. Yet little they realize that this sadness and their despair as manifest in their attacking others.

Take a contemporary example and see that as the ISIS fanatics and jihadists seek to exterminate all others who might have…

View original 1,057 more words

Posted by: Dr Pano Kroko | October 9, 2014

When a pickpocket met Jesus all he saw was his pockets…

All things have their time.

All things have their answers.

All things have their right to be.

Accepting this reality, all things come into harmony.

Our mind perceives all things but rarely knows if that which it sees is true.
That is why it relies upon a constant stream of judgement to understand the world.
And that is what makes us all a jumbled judgement machine, believing all kinds of stupidities from TV news to gossip, from historical arrogance to the internet anonymous slander and the bander of libel, and sharing the fallacies of all dogma spewing forth from haters, trolls, and individuals given to be greedy hateful and monstrous reality the experience. Yet little they realize that this sadness and their despair as manifest in their attacking others.

Take a contemporary example and see that as the ISIS fanatics and jihadists seek to exterminate all others who might have differing religious beliefs they in essence turn against themselves. They fail to see the reality that their wanton hate and violence is ultimately turned against their very selves as karma is a real nasty bitch coming back to haunt them by roosting in their conceited lives.

Religious fanaticism and ideological intolerance
thrive in that environment. Haters, Morons, and trolls rejoice. And you know where they end up…

Now Jesus ended up on the cross but only because he wanted to teach us that the sadness permeated by these untoward actions of the fanatics, is not final, their hate is not pivotal, and this reality of Life is not the only one we need to believe into.

Jesus hanging on the cross between the thief and the pickpocket — was able to share with them the Love and Greatness of Loving Compassion. Through his example the Vision of Reality of the thief and the pickpocket changed.

In other words: Their vision was altered in the presence of Love.

And so it happens with every cross you have to bear and with every Jesus crossing your path in this life. It hurts — especially when you are being victimized by hate and fanaticism, but therein lies your salvation. Your transcendence comes through the suffering that ultimately guides you to see beyond the persistent reality of your loss.

Solid people are saddened yet persevere fully knowing that there is a time for everything.

And to do that it requires the gift of perception…

However all sages and teachers have told us that True Perception requires Compassion. In layman terms that is the process by which we emphatically see what others feel and see, and in turn we sympathize with them.

A compassionate soul will travel great distances and scale high walls in order to understand another point of view.

And thus LOVE ensues.

Others who are not compassionate will never understand another’s point of view or be able to feel what they feel and thus avoid hurting them.

To facilitate the exploration of the mind it is helpful to understand the various levels of reality, to examine the perceptual fields that different beings have, to see what different realities look like.

It is well known that motivation affects our perceptions. We don’t necessarily see things as they are we see them as we are. If a pickpocket meets Jesus, all he sees are his pockets.

Perception adjustment to the positive reality of Ecclesiastes writings that all things have their time, all things have their answers, and all things have their right to be is crucial to having a new perception. And only by accepting this reality, all things come into harmony. You suddenly see, without much effort because you never have to change what you see, only the way you see it.

Socrates gave us the cave prisoners’ allegory, as written by his philosopher student Plato, who noted: “If you think you’re free and you don’t know you are in prison – you cannot ever escape.”

Socrates saw us, being in bondage, In a physical prison cave. Yet he said it is aprison of the mind, because the fetters tying us up to the wall of the cave are mere illusions. Strong illusions and particularly painful but illusions none the less.

And to free yourself is a process. It’s like planning for an island holiday. Make your plans and stick to them to effect your escape from that persistent illusion.

To begin, you must first recognize that there is a journey. Many people are totally involved in their lives. The spiritual element is irrelevant to them. They have no sense that behind their apparent reality there is another equally true and far far stronger reality.

When you begin to awaken to your predicament – that you are trapped in illusion and tied up to the wall of the cave seeing only shadows – there is a sense of something being absolutely real; but it is only relatively real.
That awakening is confusing. You are beginning to see through the dreamlike quality of the veils of illusion. The condition necessary for you to see through the veil – for the, “Wow, it isn’t how I thought it was at all” is despair. The realization that everything you think you can do to create perfection isn’t going to be enough.

William James wrote: ”Our normal waking consciousness is but one form of consciousness. Parted from it by the filmiest of screens there lie other types of consciousness that are entirely different.”

He went on: “We may pass through our entire lives without suspecting their existence. But apply the requisite stimulus and, at a touch, they are there in all their completeness, all their mentalities, each having their field of application. No view of the universe in its totality can be complete which leaves these other forms of consciousness unseen.”

In other words, you need to safeguard the other realities of your Life from been consumed by the harshness and persistence of this one reality, you seem to be living into…

But how to regard the illusion is the question,because the other realities determine life paths, feelings, and attitudes, along with our subconsciousness, but they fail to furnish a formula of how to get to them.

They open our mind, they open the regions of exploration, but they do not give us a map to follow to get there or anywhere for that matter. They somehow require a constant re-enactment of the perception and our persistent reality as a “play acting” in order to forbid our premature closing of our account with reality, and thus protect us from going “loco” in this earthly domain.

You’ve seen the Matrix…

Am sure.



In this culture, we are rewarded for knowing we know. It’s only when we come to the despair of seeing that the rational mind just isn’t going to be enough – it’s only when you see the assumptions you’ve been working with are not valid that there is the possibility of change.

Albert Einstein said: “A new type of thinking is essential if mankind is to survive and move towards higher levels.”

And Albert spoke again: “Man must be able to develop a higher form of thought if he’s ever going to be able to use his energy with wisdom.”

Posted by: Dr Pano Kroko | October 8, 2014

The Mind is a wonderful servant but a terrible master

The Mind is a wonderful servant, but may be a terrible master…

Did you know that your understanding, your intelligence, your creativity, and all that is good and great with you — begins in your heart which is both your source of truth and wisdom ?

Did you know that the heart is the first organ created in the egg in the womb, and not your brain ?

Did you know the subconsciousness is linked to the heart and the spinal brain ?

It always is.

Your Heart which wants nothing and gives everything.

It is your primordial power, intelligence and connection to source, a constant conduit pumping the flow of life, death, and unification.

The Head is an antennae and an architect for creating the dreams powered by your Heart with the building blocks of your past experiences. The Head then commits The Body to Action towards the Manifestation of Physical Reality.

All of creation is essentially Love Making that results in conception.

What ideas are you making love?

Choose wisely because these are the ones you will manifest.

Is your mind Immaculate, free of all stains and adulteration?

Are your eyes unclouded like that of a child that sees the wonder and beauty in All things?

Look at the external world around you and ask, are your conceptions then pure?

Are you listening to your primordial power?

Do you identify with a name and persona more than you identify with Love?

Do you accept that you are a manifestation of pure love beyond whatever human story has informed you with?

And are you ready to step out of hiding in the shadows and commit yourself to eating once again from The Tree of Life?

Beyond good and bad, right and wrong there is an immovable center that radiates with everlasting life.

It is the Fountain that springs eternal.

It is the tree of life in radiant flow… like a river.

Dive in and swim to the centre of it all.



Will you dive within the depths of yourself and find that point that allows you to really comprehend ?

Will you search inwards to find the “eyes” to really see ?

Will you make an effort to feel deeply and emphatically ?

And lastlY;

Will you have the strength and maturity to help me and all others who are working hard at creating a world where all living beings are winners ?

May your answer be a thunderous and resounding … Yes.

Posted by: Dr Pano Kroko | October 4, 2014

Capitalism Revisited — Reform is Good Capitalism

I led a two day High Level Economic, Business, and Finance Summit on Capitalism in London and these are the conclusions we arrived at and the actions we aim to take in the near and longer term:

Capitalism is a sure Guide to Desires fulfilled.

Capitalism is a network of marketplaces that interact and fulfil basic needs as well as frivolous desires.

No other social, economic, and philosophical system, provides that much faith in fulfilling our needs and desires. From simple basic human needs — food, shelter, and procreation — as well as extremely harmful desires all are met through relatively free markets enabled by capital. That is capitalism. It is an endless parade of goods and services all available for a price, to meet the cravings, the gratification, and consumption, to fulfil our near endless desires.

Capitalism works well to provide for people.

Sadly it also promotes Excesses, Corruption, and Destruction of the Ecosystem.

Yet for all of us, in good measure — it provides a ground-breaking model for understanding and responding to consumer desire. It helps us by offering companies, brands, and industries, a way to build relationships with government, fickle middle class consumers, and allows us to gain a lasting competitive advantage in the marketplace.

Through this post, I explore past the Pavlovian basic needs and instead concentrate on the five most common desires. The desire of already fulfilled people, to feel community, adventure, aesthetics, vitality and purpose.

By examining our motivation for these key desires, we can teach CEOs, Companies, and Consumer advocates, to understand how to develop successful products and services that offer real value for people both in the short and in the long term. Thus fulfilling the consumer desires and protecting the natural habitat.

And this in turn is Capitalism redefined…

Featuring the techniques and tactics for desire-based capitalist strategies, we can argue that a desire well met is more likely to lead to further consumption and thus will be reinforced and will be felt again, leading in a serious cycle of ever growing lust. And that lust is never ending thus depleting all the natural resources and our vitality from our ecosystems and it resigns us to a bankrupt future. Much like the sovereign crisis we are now faced with an Ecosystem crisis that will be far more deadly because when the agriculture fails and our hotter world becomes inhospitable for our species — you will recognize that you cannot eat money.

So we need to return to the golden rule. The golden medium. A measure of capitalism that doesn’t run to extreme inequity and to satisfying evil desires. Too much of anything is evil.

So let’s reform Capitalism in such a way so that it doesn’t run to excess.

And by the way — we can turn that primal lust we all have inside of us, to the good. We can turn it to our advantage in desiring a healthful living. In balance and harmony with Nature and Earth. And we can start doing this by taking a walk in the forest and by appreciating the healing quality of the natural world. You know that the need to preserve the green skin of our planet only gets born when you walk in a green forest and feel it’s presence.

So let’s start our Capitalist Reformation by respecting other species contributions to our world, and thus preserving the vital ecosystem we inhabit.

Because we are far too smart to get lost as a species due to our illogical propensity to consume. And as all other species get lost and half of them are going extinct, due to our aggressive and illogically exploitative nature — we soon will be lost too. We get lost striving for the maximization of anything and everything. And believing in our exceptionalism, is a sure sign of death inviting hybris. And we can largely blame our economic system for this because as so often happens in Capitalism, the “best” has become the enemy of the good.

The Doctrine of Maximization of profit and Shareholder Value has in effect become the death knell of capitalism because of it’s mandatory excesses.

So now we have arrived at the moment when the Reformation of capitalism has become mandatory.

This idea and the events surrounding all the conferences and congresses about the incoming Capitalist revolution are worth remembering in the context of the emerging movements to reform the management of big government and big corporations of today.

It is a crucial moment, as all progressive thought leaders allude to a Reformation in Capitalism through Management, and Government Reform.

Indeed for the first time in decades we now speak openly about the reformation of the entire system of capitalism in which leaders, followers, and “managers” operate.

Am not alone in calling for some kind of Reformation. Today along with mass movements the world over — many writers and leaders, both spiritual and secular, as well as lay people from all over the world; are all denouncing the two key management practices that have brought us to the precipice’s edge.

Whether we will jump off the cliff like so many lemurs is up to us. The question placed upon us now is this: Are we going to be able to give up on the twin evils that govern corporate and government ethos; that of maximization of profits and maximization of shareholder value — or we will perish ?

Seems to me that the canaries in the mine have already “spoken” by keeling over…

The writing on the wall, is now clear.
The moment of reckoning has arrived, now that a critical mass of people and leaders, are calling for major change.

But what it is that has been achieved by all this is unclear.

Yes, we are reaching a turning point in management, in government, and indeed in capitalism as a whole.

I think so. The Pope seems to think so. And so do you.

Pope Francis spoke against the twin evils of capitalism — time and time again. And so have many of the world’s thought leaders.

And now we have another forum to voice our concerns and arrive at some semblance of action manifestation, because a lot of the world’s top management leaders will converge in Vienna Austria on November 13-14, 2014, to discuss this very question at the Global Peter Drucker Forum.

Peter Drucker and his management theories are the lived in gospel of Capitalist Society and Corporate Management practice. Drucker was the icon saint of all MBAs and all the MBA led corporation although he himself said: “Beware of the MBAs armed with greed alone.”
So this year we honour Peter Drucker and his Management Theory by convening in the Drucker Forum great reformist speakers that include Clayton Christensen of Harvard Business School and father of the Disruption effects of Innovation theory, Gary Hamel, Roger Martin, and yours truly, among many others.

It promises to be a Great School for Thought. No agreement on the issues is expected but it wasn’t meant to be a love-fest since this is not a hippie crowd either; and as the Peter Drucker Management Forum says we are going to talk and exchange views because: “We have arrived at a turning point. Either the world will embark on a route towards long-term growth and prosperity, or we will manage our way to economic decline.”

The question is whether the Drucker Forum in November or any forum and fora of global reach, will be able to generate adequate debate amongst high level participants and then manage to foster agreement on the way forward, and thus generate a united front for reform of capitalism and corporate management theory. Or whether the forum, will splinter into different factions, as thought leaders emphasize their own particular slant on the issues, with the obvious common ground among them being lost. Lost as so often happens in the din of heated debate when the participants are getting sidetracked on tiny doctrinal issues…

These are the expectations and admittedly it’s a rather low bar being set here. But let us at least examine, why the current calls for reform are significant, and why people have to stand up and take notice…

A number of aspects are significant for assessing the current calls for reform of Capitalism and Capitalist society and corporate practice in particular.

First of all is that these calls don’t come from a bunch of protesters camping in a park. They come from the most distinguished pro-business voices in the world —- the “heavy artillery” of capitalism itself.

Secondly, it isn’t just one or two voices. The critiques and the calls for change are many and simultaneous. Big-gun broadsides are coming all at once.

Thirdly, these thought leaders are not speaking in euphemisms or hedging their bets. These are flat-out denunciations of not just one sector, like the banking and finance sector, or of one firm, or slew of companies, but of the whole management culture that prevails in big business. Phrases like “stock price manipulation” (HBR), “corporate cocaine” (The Economist) and “zombie managers in the grip of management ideas that refuse to die” (Financial Times) are typical.

Fourthly, we now see leaders, trendsetting Investors, top of the world CEOs, and incumbent members of the C-suite all speaking out. Leaders, such as Tim Cook at Apple [AAPL], Paul Polman at Unilever [UN], Xavier Huillard at the Vinci Group and John Mackey at Whole Foods [WFM] are all vocal advocates for Change.
The important thing to notice is that these corporate leaders are speaking out while they are still in office, as compared to “elder statesmen” like Jack Welch, who called shareholder primacy “the dumbest idea in the world,” long after he had retired.

An even larger number of corporate leaders at firms like Gore, Google [GOOG], Amazon [AMZN], Linux, and Morning Star and many small organizations are actually practicing a more creative brand of management, even if they don’t always go around making speeches about capitalism.

Fifth, although there are different terms in use and different emphases, the common ground among the voices for change is more striking than the differences.

Finally, these thought leaders make a powerful case that the economic and social costs of current management practices are so grievous that in any event they are not sustainable. As Roger Martin argues in his article in the October issue of HBR on “The Rise and Fall of the Talent Economy,” change will happen, one way or another. The only question is whether the transition is going to be quick and intelligent and elegant, or slow and ugly and even violent—like the religious Reformation— and take more than a century.

Obstacles to a Reformation of capitalism are legion but none so pervasive as the apathy and entropy present in the system today. The Status-quo is not daft, or silly. It’s just morose…

Nevertheless, the obstacles to be overcome if the Drucker Forum is to contribute to the move towards a turning point are formidable, yet easily scaled.

First, calls for reform have been going on for a long time. “A-list management voices as well as a cohort of younger thinkers and doers, have been calling for the reinvention of management along these lines for years,” writes Simon Caulkin in the Financial Times. “But nothing much has changed, at least among large established companies—just look at the unreconstructed financial sector. If anything, managers report that short-term pressures are getting worse.” As Andrew Hill also writes in the Financial Times, “US chief executives hoard good news for stock sales” with dubious practices that resemble “cookie jar accounting.”

Second, overwhelming incentives are in place for the continuance of the status quo. In the period 2004-2013, Bill Lazonick’s research shows that share buybacks shifted some $3.4 trillion from organizations to their shareholders and managers away from employees, investment and innovation. This diversion of resources is macro-economic in scale. As the C-suite is becoming not just rich but legacy-rich, why should they change?

Third, the entrenched interests are mutually reinforcing, as society as a whole has come to accept the practices and ideology of 20th Century management as inevitable. The C-suite is offered extraordinary compensation by their boards for implementing the practices. Business schools teach their students how do it. Institutional shareholders are complicit. Regulators pursue individual wrong-doing rather than addressing systemic failure. Rating agencies reward malfeasance. Analysts applaud short-term gains and mostly ignore long-term rot. Politicians, lavished with campaign contributions, stand by and watch. In such a context, it isn’t easy for any individual business leader to take a stand and say: this is simply not right. It’s the entire society that needs to change.

Thus we are dealing with a systemic issue. This isn’t about individual corporate managers acting badly in isolation but about a number of key systemic elements—managers, their boards, investors, particularly institutional investors, regulators like the SEC, the central banks like the FED, financial institutions, hedge funds, business schools, rating agencies, the media—all acting in concert. The case can be made that corporate leaders find themselves operating in a society that has, as a whole, lost its way.

Fourth, a previous effort to reach common ground on the reform of management provided no clear path forward. Thus Gary Hamel in 2008 assembled a gathering of thirty-five of the world’s top management thinkers. Hamel wrote up the outcome in his famous article, “Moonshots For Management” in HBR in 2009. There was strong agreement that the current management model was broken, but no consensus among the strong-minded participants as to how to reform it.

Fifth, even if shareholder primacy is set aside, corporate leaders will have to master fundamentally different management practices, with a different kind of leadership that involves different ways of thinking, speaking and acting in the workplace. Old habits will die hard, even if their abandonment is rational and necessary. In the New York Times, Peter Thiel, the co-founder of PayPal, questions whether many of the “the conformist, risk-averse politicians who already control most American mega-corporations” are even capable of making the needed change.

Settling on a common cause now is crucial for progress away from the capitalist orthodoxy dogma.

The question on the agenda of the Drucker Forum is whether we have reached a turning point in management, and indeed in capitalism itself. If Peter Drucker himself were still with us, he might suggest that we begin by agreeing on a common set of questions, and then see whether we can even get close to some answers. The outcome will depend on whether the Forum can agree on the broad direction of change, or whether it will, allow obscure doctrinal differences to prevent any agreement. In effect, will pursuit of perfection, once again become the enemy of the good?

As Caulkin notes in the Financial Times, “the invisible link between sluggish innovation, cost-cutting, share buybacks, the jobs and pay squeeze, and neo-Taylorism, is management incentives. What locks them all together in a tight, self-reinforcing paradigm is shareholder value–the assertion that the sole purpose of the company is to maximize returns to shareholders.”

If this is correct, the principal question for the Drucker Forum is whether we will be able to agree on severing this invisible link. Will the Forum accept that this is the critical link that needs to be broken? Obviously the Forum itself has no power to sever the link, but will it be able to show how it might be done and point the way forward?

“The fact that this is a zombie idea does nothing to weaken its hold on the corporate psyche, particularly in the US,” writes Simon Caulkin. As the late London Business School scholar Sumantra Ghoshal explained: “The problem is not that we fail to recognize good management practice — it is rather that bad management theory and practice, anesthetized it.”



So Yes, an era of management-led sustainable growth is both feasible and urgently needed.

But the renaissance will not flourish unless a stake is driven through the heart of the shareholder-primacy zombie first.

And that task is hard because it takes a whole “village” to accomplish.

So come along, stand with me, and be counted, in Vienna and at the Drucker Forum this November.

Egg Foo Yong is called Happy Food in China and is an essential element of the Dim Sum trays in Hong Kong.

And as it turns out today this is the sustaining food for the Democracy activists and protesters in the Central District of HK.

Now that tens of thousands of people have been “occupying” the tear-gas-filled streets of Hong Kong’s Central district to fight for their democratic rights — they need to be fed and nourished and this staple of people’s kitchen with it’s full nutrient value is helping get the job done. Makeshift kitchens turn them up by the hundreds and along with rolls and dumplings it represents the best Pro-Democracy food the world over, because it all started back n Tiananmen Square in 1989 where egg-foo-yong was the most sought after food feeding the always hungry bellies of the Pro-Democracy and Pro-Liberty protesters, hoping to create a new People-Loving China.

And now some 25 years later hundreds of thousands of demonstrators have again showed up to fight for Lady Liberty and Democracy with bellies full of egg-foo-yong… this time filling Hong Kong’s central district.

Many more people are joining them, each and every day. The demonstrators are right to protest, because China is at a crossroads in Hong Kong having caused this immense political crisis

We believe that the ongoing peaceful citizens’ movement in Hong Kong, led primarily by students, is a result of the Chinese authorities reneging on their commitment to the people of Hong Kong under the “One Country, Two Systems” arrangement, which promised them democratic universal suffrage for the selection of the Chief Executive in 2017.

But that was not delivered as promised. Now the people have erupted…

What is needed is for Beijing to address the underlying causes that have led the Hong Kong people to launch such a movement in the first place, by granting them the free exercise of democratic rights. The solution to this crisis must be political, and must not include the use of force.

The ongoing events represent an important test for the direction that will be taken by China, and the alternative in front of the Chinese Communist Party is clear: either China implements much needed political reforms in Hong Kong and in the mainland, or it strengthens its authoritarian grip. This would fuel aggressive nationalism, leading China along the wrong path in the future while sending a bleak message to the international community.

China’s government has promised Hong Kong’s citizens that they can freely elect their Chief Executive in 2017. But, given that candidates are to be carefully vetted by an unelected committee of pro-Chinese appointees, citizens would have no meaningful choice at all. Only people who “love China” – that is, love the Chinese Communist Party (CCP) – need apply.

One can almost understand why China’s leaders should be baffled by this show of defiance in Hong Kong. After all, the British simply appointed governors when Hong Kong was still a crown colony, and nobody protested then.

Indeed, the deal that Hong Kong’s colonial subjects appeared to accept – leaving politics alone in exchange for the opportunity to pursue material prosperity in a safe and orderly environment – is not so different from the deal accepted by China’s educated classes today. The common opinion among British colonial civil servants, businessmen, and diplomats was that the Chinese were not really interested in politics anyway; all they cared about was money.

Anyone with the slightest knowledge of Chinese history knows that this view was patently false. But, for a long time, it seemed to be true in Hong Kong. There was, however, a significant difference between Hong Kong under the British and under China today. Hong Kong was never a democracy, but it did have a relatively free press, a relatively honest government, and an independent judiciary – all backed by a democratic government in London.

For most Hong Kong citizens, the prospect of being handed over in 1997 from one colonial power to another was never an entirely happy one. But what really invigorated politics in Hong Kong was the brutal crackdown in Beijing’s Tiananmen Square and in other Chinese cities in 1989. Huge demonstrations took place in Hong Kong to protest the massacre, and massive commemorations of the event are held every June, keeping alive a memory that is repressed and fading in the rest of China.

It was not simply humanitarian rage that galvanized so many people in Hong Kong to act in 1989. They recognized then that under future Chinese rule, only genuine democracy might safeguard the institutions that protected Hong Kong’s freedoms. Without any significant say in how they were to be governed, Hong Kong’s citizens would be at the mercy of China’s leaders.

From the point of view of China’s Communist rulers, this seems perverse. They regard Hong Kongers’ democratic demands as a misguided effort to mimic Western politics, or even as a form of nostalgia for British imperialism. Either way, the demonstrators’ agenda is considered “anti-Chinese.”

The way China’s rulers see it, only firm control from the top and the CCP’s unquestioned supremacy can create the conditions needed for a rich and powerful China to emerge. Democracy, in their view, leads to disorder; freedom of thought causes popular “confusion”; and public criticism of the Party tends toward the breakdown of authority.

In this sense, the CCP is rather traditional. But, though Chinese government always was authoritarian, it was not always as corrupt as it is now. Nor were China’s politics always as lawless.

China traditionally had institutions – clan associations, religious communities, business groups, and so on – that were relatively autonomous. Imperial rule may have been authoritarian, but there were large pockets of independence from central control. In that sense, Hong Kong is perhaps more traditional than the rest of China, excluding, of course, Taiwan.

Today, the CCP’s political supremacy places it above the law, which encourages corruption among Party officials, whether at the local or national level. Strict Party control of religious, academic, artistic, and journalistic expression stifles the dissemination of necessary information and creative thought. The lack of an independent judiciary undermines the rule of law. None of this benefits future development.

When Hong Kong was formally handed back to China 17 years ago, some optimists thought that the former colony’s greater freedoms would help to reform the rest of China. The example of a clean bureaucracy and independent judges would strengthen the rule of law throughout the country. Others, for the same reason, regarded Hong Kong as a dangerous Trojan horse that could seriously undermine the Communist order.

So far, there is no evidence that the protesters in Hong Kong’s Central district have any ambition to undermine, let alone topple, the government in Beijing. They have their hands full just standing up for their own rights in Hong Kong, and the chance that they will succeed appears to be slim. Chinese President Xi Jinping is anxious to show how tough he can be. Compromise would smack of weakness. His aim seems to be to make Hong Kong more like the rest of China, rather than the other way round.

And yet, there is every reason to believe that China would benefit greatly from the opposite course. Less official corruption, more trust in the law, and greater freedom of thought would make China a more stable, more creative, and even more prosperous society.

In the short term, this probably will not happen. But the people who truly “love China” are more likely to be found in the streets of Hong Kong than in the closed government compounds of Beijing.



What is now needed to put the genie back in the bottle is first for Beijing to address the underlying causes that have led the Hong Kong people to launch such a movement in the first place, by granting them the free exercise of democratic rights.

Second is the need to understand by remembering Tiananmen Square that the solution to this crisis must be political, and must not include the use of force.

Thirdly we should all recognize that the ongoing events represent an important test for the direction that China will take in the future; and that the alternative in front of the Chinese Communist Party is clear:

Either China implements much needed political reforms in Hong Kong and in the mainland, or it strengthens its authoritarian grip.

Although it is clearly evident that China will opt for the second choice, it is good to remind the leaders amongst those reading this blog that this course of the Politburo, will fuel international isolation and the reverse effects of aggressive nationalism — thus leading China along the wrong path in the future while sending a bleak message to the international community.

As for your growth… well you might have an embargo to look forward to.

Please Remember this.

The idea that an increase in economic growth leads to an increase in inflation is risible.

The idea that decreased growth reduces inflation is similarly laughable.

Yet these ludicrous ideas have been reflected endlessly in the media and in old school government and academia as correct.

Yet, whether in Macro or in Micro Economics, these ideas makes no more sense than believing that the Monsters hiding under your bed are holding regular Congress meetings in order to undermine your worthless life.

And it’s a similarly daft tale when senior banking economists spout nonsense by saying that growth causes inflation, and that is a scary scenario.

This high level Fear-mongering accomplishes certain ends. That much we know for certain. Yet the very fact that anti-growth bankers and politicians are so legitimately stupid, is what’s so scary about this silly position…

If you need proof of this position — take the equation of exchange, MV = Py, where M is the money supply; V is the velocity of money — that is, the speed at which money circulates; P is the price level; and y is the real output of the economy (real gross domestic product):

If the growth rate of real GDP increases and the growth rates of M and V are held constant, the growth rate of the price level must fall.
But the growth rate of the price level is just another term for the inflation rate; therefore, inflation must fall.
An increase in the rate of economic growth means more goods for money to “chase,” which puts downward pressure on the inflation rate.

For example:

If the money supply grows at 7 percent a year and velocity is constant and if annual economic growth is 3 percent, inflation must be 4 percent (more exactly, 3.9 percent).
If, however, economic growth rises to 4 percent, inflation falls to 3 percent (actually, 2.9 percent).

That being said, if the Federal Reserve Bank increases the growth rate of the money supply and if this increase is unanticipated, then sellers of products and sellers of labor will, for a while, mistakenly think that the higher dollar prices of goods and higher wages they are seeing are higher real prices and higher real wages…


Surely, some merchants, economists, bureaucrats and assorted donkeys, will mistakenly conclude that the higher growth led to higher inflation.

But we know better, because it didn’t.

Higher growth of the money supply led, temporarily, to both higher inflation and higher real growth.

That’s it.

That’s All.

Nothing More Is Needed.

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