Ülo Ennuste majandusartiklid

Financial and economic development depends on national culture: New result of the ee.comments economics


Indeed, this result was produced recently  in comment discussion of The Economist paper “Baltic brink” (December 20 2008) on the Latvian example and in the context of globalized financial  situation


“Culture” was in this discussion taken in the broad sense, not only ballet and opera or so, in the sense of civilized nations and barbaric ones.

And the level of national culture has been defined as compared at least with the yardsticks of one Western and one Eastern Big Country: In this case Russia and Italy have been taken as the most adequate basis.

 From the first aspect the Latvian culture is below any standards, e.g. this nation’s barbarity “pride” culture is not allowing them poorfish creatures properly to  understand how thankful they should be to Comrade Jo and many Soviet Russians that they still exist at all on this important strategically geographical place on earth (only 25% of population  losses caused by Moscow-Berlin secret Agenda 1939).

As from the traditional Italian flamboyant viewpoint (most Riga’s population  vaguely called “leftovers” from there), essentially Latvians’ style and tastes are below any civilized criteria: 1) not enough respect for female elegance politicians –   

many Latvians have been missing so far her decency, elegance and sense of balance … of the primate (sic! üe) of a woman appointed as Head of State …” (see Annex by Anglocalabro, The Economist 20.XII 08 Comments).

2) Latvians are not at all in style in the case of buying Italian high couture -“ Nowhere else in the world I have noticed such a manic, compulsive greed for branded clothes and flashy cars (manily second-hand, üe) as in Latvia. “Bagehot” would have defined ineluctable the “invisible hand” guiding Latvians at the dawn of free market when buying (fake and outdated) branded italian clothes in Riga at 2 or even 3 times their real price.” (see Annex by Anglocalabro).


So, thus far in our  economics the understanding has been as narrow as that:  our present financial crisis is the result of a mistakes and crime,  evidence of incompetence of bankers and corruption of goverments, and its remedy to be sought in committee rooms and courts of law.

From now on we may competently say that this crises is caused just by low culture of some barbaric nations, and remedies should be sought in international politics, e.g. in creating new global orders wihtout low culture strategically important subregions with lowbrow governments who are arrestunig highbrow anarchistic Minsky Moment scandalmonger international journalists, and nationalizing financial alchemists’ banks!





The Economist 20.XII 08 „Baltic brink”, Comment: 37

anglocalabro wrote:

December 24, 2008 13:39

“Saddam Hussein Statue has been destroyed with no ensuing complaints and debates for much lesser scale of (unpunished) atrocities than those committed by Stalin and Lenin.
Everybody should know that the policeman of the world war (The famous british act) did not include those committed by the russians as crimes of war, therefore russians could keep deporting, torturing and experimenting on people’s body (still alive) without much fuss.
But the issue at stake here is a different one and it has to do with the financial and economic situation in Latvia.
An elusive culture of closure, diffidence and complacency is apparent in Latvia for anyone who has the opportunity to relate with latvian people on a different approach than mere touristic purposes.
This much trumpeted “Latvian Pride” has more to do with nationalistic symbols, local celebrations and ancient tales than with a constructive, civilized and committed respect of civic values and public interest.
Nowhere else in the world I have noticed such a manic, compulsive greed for branded clothes and flashy cars as in Latvia. “Bagehot” would have defined ineluctable the “invisible hand” guiding Latvians at the dawn of free market when buying (fake and outdated) branded italian clothes in Riga at 2 or even 3 times their real price.
One of the highest political figures in Latvia earlier this year declared to be “The Godfather” is favourite book.
It strikes me how, at any social and cultural level, so many latvians are irresistibly attracted to the myth (sic) of italian mafia stories and characters.
Latvian politicians just resemble very much the fabric of latvian society. I am aware of the triviality of this observation, but in Latvia I found it excptionally applicable. In other countries people do complain about government shortcomings because of the effects on society at large.
In latvia it seem that people complain because they are excluded from the institutional posts that would allow to enrich themselves.
I don’t ever recall wealthy business people (well connected to the establishment) in Latvia being afraid or concerned about the economic situation.
I have met some very responsible, efficient and honest civil servants in latvia, but they were almost ashamed of their own rectitude as surrounded by crooks and incompetent people. The Constitutional Court of the republic of Latvia is a surprising exception of reliability and one of the few solid institutional harbours within the latvian apparatus, but generally speaking, many of the civil servants chairing important departments and government offices in Latvia wouldn’t be employable even in Uganda as street cleaners.
With reference to the “imported” presidents, Vaira Veika Freiberga (sorry for mispelling) has given Latvia not just the prestige of the primate of a woman appointed as Head of State, but even a widespread positive opinion about her activity during those difficult years chairing such a young independent state towards European membership.
I guess many Latvians have been missing so far her decency, elegance and sense of balance.
On a very light tone, I notice how this prestigious magazine did not take exception signing the article.
It would have been at least inconvenient for The Economist to deal with an imprisonment request of the correspondent by the Latvian security police.
Less Dolce & Gabbana, Mercedes, Sex and the City, mafia movies and more openness towards foreigners, russians residents (involuntary leftover of russian attempted etnic cleansing), would be for sure a good recipe for a more stable future.
Financial and economic wiseness has a lot to do with people’s culture (not to be strictly intended as eagerness to attend ballets and opera events).”


detsember 25, 2008 - Posted by | Uncategorized

2 kommentaari »

  1. Dear Ylo, I am still waiting for you to acknowledge your foolish interpretation and twisting of my posting on The Economist blog.
    I am sure few people will dare to enter the obscure realms of your google-translator-software style english jargon.
    Nevertheless, I hope at least few, will realize how your poor command of english language determined such an distorted interpretation of my words.

    Kommentaar kirjutas anglocalabro | detsember 29, 2008 | Vasta

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