Tomáš Baťa (the greatest shoemaker in the history - recommend to read his life and business story) once said. "There is nothing like economy crisis. It is just another name for moral misery."
"The cause of the crisis is moral misery. The turning point of the economic crisis? I don't believe in any turning points per se. What we used to call economic crisis is another name for moral misery. Moral misery is the cause, economic decline is the effect. There are many people in our country who believe that economic decline can be remedied with money. I dread the consequence of this error. In the position we are in, we do not need any ingenious turns and combinations. We need moral positions on people, on work and on public property. Not to support bankrupts, not to run up debts, not to throw away values for nothing, not to extort the workers, to do what has lifted us out of post-war misery, to work and save, and to make work and saving more profitable, more desirable and more honest than idleness and waste. You are right, there is a crisis of confidence to be overcome, but it cannot be overcome by technical interventions, financial and credit interventions; confidence is a personal matter and confidence can only be restored by moral considerations and personal example."
Tomáš Baťa (the greatest shoemaker in the history - recommend to read his life and business story) once said. "There is nothing like economy crisis. It is just another name for moral misery."
To be precise, he said this. Died in 1932.
"The cause of the crisis is moral misery. The turning point of the economic crisis? I don't believe in any turning points per se. What we used to call economic crisis is another name for moral misery. Moral misery is the cause, economic decline is the effect. There are many people in our country who believe that economic decline can be remedied with money. I dread the consequence of this error. In the position we are in, we do not need any ingenious turns and combinations. We need moral positions on people, on work and on public property. Not to support bankrupts, not to run up debts, not to throw away values for nothing, not to extort the workers, to do what has lifted us out of post-war misery, to work and save, and to make work and saving more profitable, more desirable and more honest than idleness and waste. You are right, there is a crisis of confidence to be overcome, but it cannot be overcome by technical interventions, financial and credit interventions; confidence is a personal matter and confidence can only be restored by moral considerations and personal example."
Ooh...quoting Walt Kelly - always a favourite.