A Buddhist’s Take on the Global Financial Crisis: Enlightened Altruism

It seems ironic to come across Gordon Mijuk’s piece in the Dow Jones Newswires on Matthieu Ricard’s Buddhist take on the global financial crisis.

Mijuk writes:

Shrouded in his red Buddhist robe, Matthieu Ricard was hard to miss amid the sea of black and gray business suits that crowded the halls at the World Economic Forum.

His take on the global financial crisis and the fast economic downturn, however, folded almost neatly into the grim view that was shared by many business leaders during the panel discussions in Davos.

Also, his solution sounded somewhat familiar.

"This crisis shows that a system based on egoistic interest is dysfunctional," Ricard said. "It has created the lose-lose situation in which we find ourselves now."

Ricard, who was born in 1946 in Paris to French philosopher Jean-Francois Revel, turned to Buddhism some 40 years ago after completing his doctoral thesis in molecular genetics.

While he regularly seeks solitude and seclusion in the Himalayas, Ricard has a hands-on approach to life.

Besides being the French interpreter for the Dalai Lama, Tibet's spiritual leader, Ricard is a renowned photographer who also has written several best-selling books about Buddhism and science. He is heading a nonprofit organization in Nepal that is providing medical care and education to children.

"One way out of this crisis is to follow what I would call an enlightened altruism," Ricard said. "This crisis has shown that we don't work in isolation but that there is an interdependence. So what we need to do is to work together and consolidate the interest of the economy, human beings and the environment. This could be a win-win situation."

Or, in other words: Yes, we can.

Defense Secretary Gates and National Security Adviser Gen. Jones, Jr. Back Clinton’s Efforts to Strengthen the State Department

Photo credits: Susan Walsh/AP

Headlined Clinton Moves to Widen Role of State Dept., the lead paragraph of a report in today’s New York Times on Hillary Clinton's steps to strengthen the State Department is guaranteed to fan the flames of controversy and incite outrage from the usual crowd of pathological Hillary haters.

Mark Landler and Helene Cooper write:

“WASHINGTON — Even before taking office, Hillary Rodham Clinton is seeking to build a more powerful State Department, with a bigger budget, high-profile special envoys to trouble spots and an expanded role in dealing with global economic issues at a time of crisis.”

Buried in the article is word from an anonymous official that Mrs. Clinton was being supported in her push for more resources by Defense Secretary Robert M. Gates and Mr. Obama’s incoming national security adviser, Gen. James L. Jones Jr.

‘“For years, some Pentagon officials have complained that jobs like the economic reconstruction in Afghanistan and Iraq have been added to the military’s burden when they could have been handled by a robust Foreign Service.

‘“The Pentagon would like to turn functionality over to civilian resources, but the resources are not there,’ the official said. ‘We’re looking to have a State Department that has what it needs.”’

The article continues:

“Mrs. Clinton’s push for a more vigorous economic team, one of her advisers said, stems from her conviction that the State Department needs to play a part in the recovery from the global financial crisis. Economic issues also underpin some of the most important diplomatic relationships, notably with China.”

A careful reading of this article would lead a rational person to conclude that Clinton is wisely positioning the State Department to make the best possible use of diplomatic tools and resources to help resolve several global crises expected to worsen in the days ahead.

Sadly, a quick glance at the readers’ comments in the Times indicates the irrational Hillary haters are already out in force.

Calm Down, People: Wall Street is Showing Signs of Improvement

Just minutes ago, Michael Grynbaum at the NY Times reported:

“Signs of improvement in the credit markets brought a wave of relief to Wall Street on Monday morning, as investors sent stocks to another big rally and welcomed comments from the chairman of the Federal Reserve that seemed to encourage a new government stimulus package.

“At the close, the Dow Jones industrials were up 413.21 points or 4.6 percent, closing back above 9,000. The Standard & Poor’s 500-stock index rose nearly 4.8 percent, and the Nasdaq composite index was up about 3.4 percent.

“After weeks of extraordinary coordinated efforts by the world’s governments and central banks, investors awoke on Monday to find — finally — signs that credit was beginning to flow more easily.”

Hopefully today’s positive signs from Wall Street will soon herald good news for the rest of us out here in the hinterland struggling to hold the fort on America’s Main Streets.

To read the NY Times report in its entirety, go here.