Key to new economy: Good knowledge, connections and respect for individuals

MARJETKA KASTNER Director of the Life Learning Academia,

The economy is facing difficulties in understanding the extent of integration. The lack of monetary coordination and connection amongst countries in the South, Middle East and the Far East has become legendary. 

Over the last four years, the challenges have undergone a significant change. The focus has shifted from topics connected with recession and slow economic growth, to political and social problems. The main concern is becoming the issue of the development gap between East and West Europe and Asia. Such care refers to the perspective of future generations for a better quality of life, which can only be ensured by stronger connections, new knowledge and new jobs – especially for young people. The economic growth must be reflected in a better quality of everyday life.

Without this, most of the countries are currently look like a car without an engine and a driver. Without the engine of global growth, investors are becoming increasingly worried about other emerging market economies and casting a hard look at them. The tide will not turn anytime soon if we don’t create a large competitive environment, since the risk of political insecurity has been increasing despite the return to economic growth.

In the past, we witnessed a negative or minimal economic growth with barely visible signs of recovery. On the other hand, we saw forward-looking politics that left positive marks. Now, we are in the phase of economic growth, which is optimistic for developing countries. But despite such growth, political and social risks have been increasing. 

In 2015, the economy felt the positive effects of economic growth, whereas people did not, as unemployment rates, for example, have remained high in all countries.  We need to establish good companies and organizations to move toward coordinated macroeconomic policies. Here is a very important question. What essentially is an organization or a company? One of the answers is – an organization is an environment for individuals (employees) working in it. Good employees make organizations strong and good.

We need to provide employees with the right skills. 

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Future generations are lethargic due to the lack of opportunities. Even if young people get jobs, such jobs are usually poorly paid, and the economic environment does not provide opportunities for personal and professional growth to many of them.  All of this represents a big risk for the development of all countries in the future. The new economy must be based on connections, good knowledge and respect to individuals and their personal development, as they represent and create an added value, which is important for the development of an individual organization, the country and us all.