The compund causes of the current economic crisis.

"Can we please put on the table all the causes of the current economic mess? Our current upbringing/EI education creates a trophy self image that demands material trophies to make us feel successful. And increasingly we are pleasing our self image by credit cards. Knowing economic expertise is essential but not enough to create economic success; having +2 emotional intelligence is just as important, for individuals and companies.

Here we are in an economic mess; tens of millions of individuals, small and big businesses, huge organizations and big financial institutions like banks and ... We cannot balance our books and we are at a loss to understand what hit us. Even though wall street has triggered this mess this wide spread damage has to do with some fundamental, across the board, cause. The results of human behavior are determined by the level of their expertise; the combined knowledge and experience factor and also the level of the individuals emotional intelligence. Both intelligence and emotional intelligence combine to determine the success of any and every individual and group behavior. In fact there was an article recently in the New York Times about the human factor in the current economic mess. However most expert's articles in the media are by and large ignoring this human element as a factor in the current economic crisis.

The time has come when individuals and companies must behave not according to their self image but according to the actual reality on the ground. Take the example of GM. They consider themselves the biggest icon of America. So they have this group image that they treat all their employees with the best of the best health and other benefits. In the mean time this is costing GM over 1000 dollars per vehicle. This was very good as long as the going was good but now it is like crossing the red line in economic prudence. They have to find some creative wisdom ways, I have always wondered how many tens of millions of dollars they must be giving out in health insurance premiums. Why not establish their own clinics for regular diseases and have insurance for only serious illnesses. Knowing economic expertise is essential but not enough to create economic success; having +2 emotional intelligence is just as important. Unless GM takes into account both the factors and changes its policies accordingly; giving them billions of dollars will only postpone their bankruptcy. GM will remain a perpetual money pit unless they change and adjust to the current reality.

Our current upbringing/EI education creates a trophy self image that demands material trophies to make us feel successful. And increasingly we are pleasing our self image by credit cards. Even if individuals are given a fresh start with all their credit forgiven; if they don't change their ways and adjust to the current reality they will fall into the same holes again. For further reading please check my blogs on wisdom.