While the changes that are necessary are actually simple, they're painful, and require courage and sacrifice. Living standards will decline in real t… - Satyajit Das
" "While the changes that are necessary are actually simple, they're painful, and require courage and sacrifice. Living standards will decline in real terms. Citizens will have to save more and consume less. Working lives with lengthen. For many, retirement will be revert to being a luxury. Taxes and charges for government services will rise to match the cost of providing them. There has to be greater emphasis on the real economy - the creation and sale of goods and services. Financial institutions need to return to their actual role of supporting economic activity.
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About Satyajit Das
Satyajit Das (born 1957) is an Australian former banker and corporate treasurer, turned consultant, and author.
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The truth is that banks are the last feudal kingdoms, their rulers omnipotent, divine warlords. Their key lieutenants are 'ronin' (wandering mercenary samurai) who roam financial markets ready to ally themselves to any warlord for a share of plunder. This is not the place to apply the latest management theory.
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