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POLITICAL, ECONOMIC, MORAL AND CULTURAL SYSTEMS SHOULD BE SERIOUSLY RECONSIDERED, RUBEN VARDANYAN THINKS
Mediamax
Aug 31 2011
Armenia
Yerevan/Mediamax/. Chairman of the Board of "Troyka Dialogue" Ruben
Vardanyan thinks that the value system and evaluation of assets within
the world economy are being transformed.
"We should admit that formal and non-formal systems of checks and
balances operating today have got out of balance. Today, all the
systems, political, economic, moral and cultural, should be seriously
revised. In the developed Western countries an individual's personal
right of determining his actions prevails over the public opinion. The
only mechanism left in the world which works (not always, though)
is legal rules and laws. They should also be seriously reconsidered",
said Ruben Vardanyan in the interview published today in "Kommersant"
newspaper.
"There are two scenarios: the first one is the crisis acceleration
in current systems. Everybody starts to understand that crisis calls
for changes. It's a time for making decisions, painful and sometimes
very hard ones, entailing cataclysms for today's elite. The second
scenario is to cut off the disease avoiding tough decisions. That's
what has happened over the recent 20 years in Japan. The problem is
rooted in the society rather than in the economy there: the Japanese
are undergoing conflict between the internal reality of the country and
values of former generations which have been built up over millennia",
said the head of "Troyka Dialogue".
Ruben Vardanyan noted that "globalization has already cost very
expensive".
"At the same time, no matter what is spoken, America and Western
Europe are still dominating though the situation is rapidly changing.
It is indisputable that everything may change provoking a formation of
a new financial system. Again we may exchange a kilogram of salt for
a kilogram of sugar, then for wheat or concrete. Gold may even become
the new currency. That's not important. A new means of calculations
will be created and the old currencies will rapidly depreciate",
said Ruben Vardanyan.
He also stressed that the number of the tools applied for regulating
the economy is limited.
"Those who can print a lot of money print how much they can. Those
who are able to throw the debts on the future generation are busy
doing that. Those who cannot do anything are trying to borrow from
others. There is an actual price for the goods of first priority
and there is a price for raw material, production and services. The
value system and evaluation of assets are being transformed now. Why
do we think that the financial world should remain the same whereas
the technological world has dramatically changed over the 20 years?
Everything is interrelated. We are going to face a change of the world
system. The thing is which dominants will be accepted in that system,
including the quantity of money. When I started my business there
were rare billionaires in the world and now this status is being
endlessly devaluated", said the head of "Troyka Dialogue".
Mediamax
Aug 31 2011
Armenia
Yerevan/Mediamax/. Chairman of the Board of "Troyka Dialogue" Ruben
Vardanyan thinks that the value system and evaluation of assets within
the world economy are being transformed.
"We should admit that formal and non-formal systems of checks and
balances operating today have got out of balance. Today, all the
systems, political, economic, moral and cultural, should be seriously
revised. In the developed Western countries an individual's personal
right of determining his actions prevails over the public opinion. The
only mechanism left in the world which works (not always, though)
is legal rules and laws. They should also be seriously reconsidered",
said Ruben Vardanyan in the interview published today in "Kommersant"
newspaper.
"There are two scenarios: the first one is the crisis acceleration
in current systems. Everybody starts to understand that crisis calls
for changes. It's a time for making decisions, painful and sometimes
very hard ones, entailing cataclysms for today's elite. The second
scenario is to cut off the disease avoiding tough decisions. That's
what has happened over the recent 20 years in Japan. The problem is
rooted in the society rather than in the economy there: the Japanese
are undergoing conflict between the internal reality of the country and
values of former generations which have been built up over millennia",
said the head of "Troyka Dialogue".
Ruben Vardanyan noted that "globalization has already cost very
expensive".
"At the same time, no matter what is spoken, America and Western
Europe are still dominating though the situation is rapidly changing.
It is indisputable that everything may change provoking a formation of
a new financial system. Again we may exchange a kilogram of salt for
a kilogram of sugar, then for wheat or concrete. Gold may even become
the new currency. That's not important. A new means of calculations
will be created and the old currencies will rapidly depreciate",
said Ruben Vardanyan.
He also stressed that the number of the tools applied for regulating
the economy is limited.
"Those who can print a lot of money print how much they can. Those
who are able to throw the debts on the future generation are busy
doing that. Those who cannot do anything are trying to borrow from
others. There is an actual price for the goods of first priority
and there is a price for raw material, production and services. The
value system and evaluation of assets are being transformed now. Why
do we think that the financial world should remain the same whereas
the technological world has dramatically changed over the 20 years?
Everything is interrelated. We are going to face a change of the world
system. The thing is which dominants will be accepted in that system,
including the quantity of money. When I started my business there
were rare billionaires in the world and now this status is being
endlessly devaluated", said the head of "Troyka Dialogue".