... I remember a professor of the history of religion once saying that global confidence in the dollar is the greatest example of collective faith in an abstract symbol in human history. The dollar, under the Fed, has achieved something no god, no prophet, no messiah has been able to do.
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... Paradoxically, this universal confidence in the dollar is not necessarily good for our economy. Since 1977, the leader of the Fed has had two legal mandates: to keep the dollar's value stable and to maximize employment. Yellen is doing the first part of her job so well - so much better, in fact, than anyone could have expected - that she's hampering the second part, the one about more of us having decent jobs. Corporations, as a group, are now net savers, with an estimated $659 billion in the bank, an enormous shift from historic norms. Entrepreneurship is flat; the percentage of Americans starting new businesses is near a 20-year low. Venture capital, often seen as the most vibrant part of our economy, collapsed in 2000 and has barely budged upward since. In the language of finance, the world's money is crammed at the safest part of the risk curve. This is bad, because further out on the curve, in the riskier precincts, is where new ideas and new businesses are created.
Pak So is an artist, writer, and the Director of Operations at the Howard Greenberg Gallery in New York City.
Anna Tan is an award winning Design Director who has successfully completed creative projects for major companies and clients in the travel, arts, entertainment, retail and publishing industries.
Pak and Anna are currently producing an upcoming title for Trips of Wonder on the business capital of Tokyo, Japan.
TRIPS OF WONDER
PAK SO STUDIO
ANNA TAN GRAPHIC DESIGN
Most of us want to reach an end, we want to be able to say "I have arrived at self-knowledge and I am happy"; but it is not like that at all. If you can look at yourself without condemning what you see, without comparing yourself with somebody else, without wishing to be more beautiful or more virtuous; if you can just observe what you are and move with it, then you will find that it is possible to go infinitely far. Then there is no end to the journey, and that is the mystery, the beauty of it.