Looking back at the history of the global economy, most nations have experienced a series of economic growth alternated with periods of economic slumps. There are a few exceptions. South Korea is the most well known amongst them. In his book, “Breakout Nations In Pursuit of the New Economic Miracles”, Ruchir Sharma related how South Korea strove as a nation to recover from the 1998 crisis. The country was forced to contract a record loan of US$58 billion from IMF, at that time. This triggered a nationwide solidarity amongst the Koreans. Koreans began mobilizing to pay the national debt, waiting in long lines to donate their gold jewellery to the cause. How many nations have had such similar experiences?
We have also witnessed that size does not always provide the necessary cushion from the aftermath of natural catastrophes. Whatever the size and wealth of the country, only those with well organised logistics and strong human solidarity amongst its population stand better chances of a rapid recovery. It goes without saying that financial wealth does make a huge difference. However, money without the proper channels ends up wasted.
It can be observed that only those nations who are engaged with the world such as South Korea can continue on with their economic development and prosperity. The complexity of achieving economic progress has always been and is still the main challenge of most nations. High increase in GDP per capita does not automatically translate into continued economic growth for the future. The BRIC nations are good examples whereby their economic momentum has not turned them into strong economic powerhouses– China being the only exception, one could say
The same goes for an individual’s personal success. One is expected to regularly re invent oneself, continue on acquiring new skills and certainly not rest on one’s laurels. Attitudes such as “fake it till you make it” tend to drive people overlooking their personal flaws. Many rags to riches success stories are not achievable without their quotas of personal hurdles.
The motivation to avoid failure represses the courage needed for exploration. Boosting one’s self esteem is not the panacea to addressing all personal issues. It sometimes turns people into narcissists: people who look upon themselves as fundamentally “special, entitled and unique”. A family of successful entrepreneurs does not necessarily imply that the following generations are deemed to continue on as successful business owners.
The culture of entitlement has permeated all aspects of today’s society. It is especially true in communities which believe deeply in tradition and history. It is even more of a challenge to stand out when one lives in homogenous communities with widespread normalised behaviours. Walking one’s own path, irrespective of the family background and of societal norms, can be lonely and challenging. People imagine that there is safety in numbers. Unfortunately, people surrounded by pleasers who would never pose a challenge or a threat, does not always evolve to their full potential.
It is generally the case that, people/nations/communities undergo huge transformation when their backs are against the wall. There is also a tendency for people to defend their existing status, rank or title. It does demand a lot of courage to give it up and rebuild it differently. When one is on a winning streak, one would hardly be motivated to slow down and think ahead. Complacency gradually sets in and reduces further the motivation to think outside the box.
However, examples abound to demonstrate that living off the dividends of past successes is not an option anymore. The emergence of new political parties has disrupted the political establishment of many countries. Iphone and Ipad came at a time when there was a need in the market for something more user friendly. The same goes for AirBnb, Uber and their likes….
What would be most important to someone: is it about having a title or is it about the long term recognition and respect from your peers or at large, society? How can one remain loyal both to one’s roots and at the same time, be open to other possibilities? Keeping one’s balance is a centuries old universal message.