America Needs Leadership To Overcome Emotional Recession

Leadership to overcome emotional recession, America needs to create good jobs, see article from New York Times which was reprinted in the Straits Times.

During the Cold War years, (1945 to around 1989 collapse of Berlin Wall), Western economies delivered broad prosperity to the middle class. Communism failed in stark contrast and the Communist states largely gave up their economic ideology in the face of a more superior economic system.

Had Western capitalism not delivered, we may all be Communists today. But look what is happening now - decades of stagnation in the West. In the USA, the median annual earnings of workers with bachelors degrees have not increased in three decades. This has led to a loss of confidence in the regime.

Does it then come as a surprise when we see an increased resurgence in extremism of all forms? The world needs bold leadership. I don't know where that is going to come from.

Coming back to Singapore, we see similar psychological trends. This New York Times article talks of an emotional recession. Some in Singapore have talked about emotional or social deficit.

 Thanks for reading.