New Financial Order

As we are living the aftermaths of the Sub Prime Crisis, finance authorities all over the world are searching everywhere for the wand that can resurrect the blown up phoenix. Searching they are, but find they are not, as they are still looking at the problem from the same perspective as before. To understand the solution, they need to enrich their imagination a little, as they need to dive into the new paradigm of the purpose of economic activities as well as financial activities, which later on will determine the direction of the new financial philosophy.

Greenspan admitted that free market has flaws, Soros also admitted hedge funds played a role in the collapse of the financial system. But voices against these two wizardry personalities weren't never heard off. Since the Asian Financial Crisis '97, Tun Mahathir had pointed out these problems, and yet they labelled him The Pariah! And now with bigger calamity, all they did were admit the mistakes and, somebody else will do the clean up! That was easy...

The biggest mistake was that they missed the point on the purpose of financial activities itself. With capitalism emphasizes on the rights of the investors and for the executives to maximize the return, made it look so ever narrow minded and posing the risk of destabilizing the system itself, they need to philosophically broadened the definition to cover the prosperity of every single thing that exist in the system, and make it simpler, perhaps to "Rahmatan lil alamin"!