Hindustan Times
Two Takes on the Global Economic Crisis
Last week, the Dalai Lama, 74-year-old Tibetan spiritual leader, had a predictable take on the global economic crisis. He said the “crisis is good because it reminds people who only want to see money grow that there are limitations”. The Dalai Lama, who was speaking at the University of California, Santa Barbara, said the economic crisis will teach people that peace of mind, family and friends can bring happiness when the money is lacking. The LA Times has the full story. And you can hear the entire podcast of his speech here.
The other take on the economic crisis is not so spiritual. In fact, it is corporate. James Surowiecki who writes a column in New Yorker called The Financial Page, talks about how companies that actually expand during an economic recession and spend on marketing, advertising, market research and even hiring, emerge as market leaders after the crisis blows over. He gives the example of rival cereal makers, Kellogg and Post. When the Great Depression of the early 1930s hit, Kellogg took the expansionary route, while Post retreated. The result: Kellogg became the dominant player and Post languished lower down the ladder. His column gives examples of food marketer Kraft and auto maker Chrysler too, both companies that saw their fortunes rise because of brave new moves during the depression. You could also check out Surowiecki’s blog, The Balance Sheet.
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Loading ...Posted by Sanjoy Narayan on Monday, April 27, 2009 at 1:38 pm
Filed under Blogosphere · Tagged Dalai Lama, Great Depression, Tibetan spiritual leader, University of California
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