Financial crisis a distraction, says Nobel winner

Financial crisis a distraction, says Nobel winner

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LONDON (AFP) — The global financial crisis is distracting attention from other pressing issues such as high food and energy prices, and environmental damage, Nobel peace laureate Muhammad Yunus told AFP Wednesday.

The Bangladeshi economist warned that not addressing those other issues would lead to a "much bigger crisis ahead" that would have political and financial implications.

"What we see as a financial crisis is a part of many more crises, which are going on simultaneously in 2008," ...

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I'm not really sure if the financial crisis is a "distraction" or not. Sure, all the other issues are just as important, but if the money system collapses, will all those other problems make much of a difference? If anything, the current financial crisis is supplementary to all the others, since if our money suddenly becomes worthless, the other problems get amplified greatly.

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It's a good point to make. But I also think that if the financial crisis isn't fixed it will have consequences for everything else anyway.

The research and funding in these things will be the first to suffer, I am certain that it already is as regions cut back on spending.

I also have to wonder what the media coverage is doing to exacerbate the problem.
Personally I haven't really seen much change in my life. But my job in the security sector is quite safe through these times anyway. I do think that much of the news coverage is convincing small to medium companies to lay-off staff even if they don't need to. Companies that would probably manage alright are being too cautious and letting people go.

I do certainly think that the media need to be covering other aspects of this, such as social issues, social responsibility, community etc. In all fairness, I couldn't care less what is happening to a bank in the US, or how much they are being given by the hapless government. I do care what our country is doing about the ramifications of this crisis.

A few years ago the British government released an advice leaflet to all households in England focusing on emergency planning. Any event in the UK like that would probably only affect a small number.
And yet, on something like this where it affects all of us they offer no advice.

I could do without knowing what else is going on in the world regarding this, I'd much prefer to limit our news to what is relevant to me as a Brit.