Why The Economist's Unacknowledged Giant recommended Grameen as the first economics case for schools
Normal Macrae's obituary in The Economist in June 2010 called him the unacknowledged giant. His optimistic reporting of humanity was caused by being mentored by Maynard Keynes that economics designs the peoples' futures but depends on what logics are valued as axiomatic
Norman's writings at The Economist - the cultural lens journalist used at The Economist during the second half of the 20th century were framed by 2 axioms
A nation/place cannot sustain growth unless its capital is structured so that family's savings are invested in their next generation's productivity. Norman's 1954 book on The London Capital Market provides chapter and verse. Historically it was timely as London's industrial revolution had planted most of the developed world's laws and financial instruments. Futurewise this book became a source for Norman's forty years of leadership challenges including 3000 editorials. THese became branded in the 2 genres of entrepreneurial revolution and future history of the net generation genre which he focused on from 1972. They script in practical details most of the changes that economists would need to make to historic rules if globalisation is not to collapse the worldwide financial system of 2010s
Norman framed his writings n future human purposes around the idea that The Net Generation to 2024 would face change on a scale never previously experienced by our human race. To prevent risks and celebrate job creating opportunities Norman proposed in his 1984 book (The 2024 Report) that the world should unite around youth's most exciting millennium goal. He explained why economics would design the most popular futures if the goal was chosen as racing to end poverty everywhere. Reasons included: its possible, its exciting, it creates jobs post-industrial generation will need to design around collaborative technology, it can empower youth to joyfully unite cultures as we become borderless (more connected than separated), it aligns economics principles with nature's exponentially (compounding) rules of evolutionary selection which are community-up and open.
Norman viewed Grameen Bank as the extraordinary entrepreneurial innovation of being both a investment bank representing the 8 million poorest rural mothers in the world and a everyday savings and loans process designed around the 2 most value multiplying principles. Heloved the idea that the biggest bet the worlod's poorest women made was being first (1996) to bring mobilisation of the internet to the villages. When Norman's 85th birthday party in London St James celebrated Dr Yunus as guest of honor and leading pro-youth economist, Yunus 2 most economically innovative messages were 1) change stockmarkets and 2) invest in youth celebrating the worldwide race to poverty museums.
Logically and practically if children around the world study Bangladesh's Grameen as the first economics case study then we/they can optimalise designing futures peoples most want everywhere now that all human productivities can be freed by million times more collaboration technology than when industrial age man raced to the moon in the 1960s.
Macrae reference http://normanmacrae.ning.com contact point firstname.lastname@example.org