20. In the New Age Economy, Which Major Roles Should Focus on What Changes ?
Mapping the development goals of major roles under a proposed Iron-Clad constitution
We have seen so many suggested reforms to the governance, organizations, principles and roles of a new age economy in the past articles.
This blog attempts to map the reforms of the new age economy to some of the major and important roles.
What should the political class (bureaucracy – this is the 1st pillar of the proposed iron clad constitution) focus on?
Implement economic principles benefitting the whole eco systems and blocks.
Focus on scoring on green metrics and align the execution to larger goals like the UN SDG 2030
Put brakes on rampant consumerism and reckless exhaustion of natural resources. We have to leave something to the future generations too.
Emphasize ESG related good governance in all walks of the government
Avoid accumulation and stagnation of wealth. It needs to flow like water to energize the economy.
Develop and implement strategic national goals that span across even a century and that which will withstand the changes in the political climate.
Develop continuous improvement practices on education, health and security sectors.
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What should the scientist class focus on?
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Nothing is more important than safe-guarding our planet – we just have one at this point. Hence focus on new innovations and technologies that are environmentally sensitive and that helps in gaining good ESG metrics. For example, focus on creating new designs of dump-yards and land-filles that will become carbon neutral in its operations and that removes the humongous quantities of waste too as expected without hiccups.
Focus on improvements that will reduce the use of products that are meant for single-use and that is created in mammoth quantities.
Develop products that leverage non-conventional energies. Help the government to create such eco-friendly policies and to set-up supporting infrastructures focussing on long term benefits.
Promote the concepts around smart cities and mass-transit systems with a goal on reducing unsustainable and private transport systems as much as possible.
Innovations and practices should delve around gaining efficiencies in time management, personal and public health practices, setting up ambient living spaces – big and small, gaining knowledge and creating meaningful work and safe-guarding the planet.
What should the Presidents/Kings/Governor generals focus on?
(This is 2nd of the 3 pillars (aristocracy pillar) of an iron clad constitution – the other 2 being theocracy pillar and bureaucracy pillar. (please refer to https://www.mayoan.com/post/6-on-equality and https://www.mayoan.com/grc/06.-more-on-the-fictional-iron-clad-constitution )
Focus on good governance metrics and their continuous improvements.
Hold the people manning the government roles accountable.
Become a strategist who aligns the majority people’s expectations with the performance and focus of the government. Â
Lead the GRCA (Governance, Risk, Compliance, Audit and Quality) function that
Ensures that the right people are in the right roles following the right processes
Runs prompt risk management functions and mitigates current and emerging risks
Complies to laws, accepted frameworks/standards, and also to ethical and safe practices
Audits the government’s performance periodically on finance, security, compliance and performance. Â
Tracks the important national metrics and periodically publishes them too.
 What should the spiritual leaders (3rd pillar of the proposed iron clad constitution) focus on?
Focus on helping people maintain their faith in the strongest possible ways
Track and report on important social metrics on the current zeitgeist.
Watchout for disruptions that gravitate towards decadence of the society and be a harbinger of the manifesting decadence. (For example, It can be proliferation/infiltration of porn into everyday life or reckless adoption of AI that replaces the human in-pursuit of excellence)
Track and report on the mental health of the nation’s population
If possible, make all the places of worships also into a choultries offering food and shelter for the homeless people.
Play the role of the rehabilitating agents for people who want to come out of destitution, or who had come out of a prison, or who has lost hope and into deep-depression or who is into an inescapable harmful habit etc.
Align to the profound concept that each human life matters! And in an extended role realise that all lives matter!
What should the business leaders focus on?
Avoid layoffs if possible – instead run a rehabilitating program through HR to place them in a similar role in another company, if possible, in times of crisis. We are perhaps taking about fledgling families with alive and kicking members and not automatons. Take innovative steps like temporarily reducing the salary for the whole team so that the saved money can be spent on rehabilitation of the affected workers.
Consider the ESG metrics more important than the financial performance metrics to the effect that if the profit margins are a bit flat due to ESG initiatives, it is still OK
Invest in continuous learning/training and continuous improvement and adoption of the latest changes that credit positively to the sustainability goals.
Give back to the community in which you are operating and hence take CSR activities seriously.
Remember that you are contributing to the Gross National Happiness (GNH) index of the nation and not just reporting the financial performance metrics of a private organization.
Take steps to integrate well with the local economy first. Also, if the scope of the company dictates, take steps to integrate well into the national, regional and international economic grids. Remember if the big tree falls, the immediate ground shakes – So be particularly attentive to the impact to local economy.
On a reciprocity basis, the members of local economy is expected to support the companies operating in their community first before they consider other options.
Individuals may then adopt to self-made rules like, the second car in the family must be a car that is produced within the national boundaries. If such ideas spread, this may lead to situation where instead of the whole carr, only the engine or the transmission is imported considering cost benefits!
On a final note , in a well run democratic system based on the operating principles of the 3 pillars , which will have their own strong selection and governance processes, we can expect that if any one pillar is found defective or sub-optimal, the other 2 pillars should be able to repair or replace the faulty pillar.
Hari Om!