In the News (from Interfax): “Fridman believes the Old Testament mentioned inevitability of economic crises” The head of Alfa Group Mikhail Fridman believes all economic crises, including the current one, were predicted in biblical times.
“Economics in general is a cyclical process linked to many parameters, mainly to cycles of human consciousness. It evaluates situations as improving and then suddenly it decides that everything is bad and it’s better to sell everything. Starting from the story of Joseph, who promised the pharaoh ‘seven years of plenty and seven years of famine,’ this peculiarity of human psyche and peculiarity of natural cycles were not questioned,” Fridman said at a session of the Russian Jewish Congress business club.
In the News (translated from Cursor.co.il): Regarding the Russian economy, Mikhail Fridman said he had good news and bad news:
- The bad news is that due to a lack of diversified sources of forming the GDP, the stabilization fund may be exhausted by 2009-2010.
- The good news is that the crisis will eliminate inefficient managers and businesses, replacing them with more efficient ones.
My Comment: I met with him two years ago in his office and told him my opinion of the crisis, but I don’t think he understood me at the time. The economic crisis was not apparent yet and he wasn’t interested in other crises.
Seven years of plenty are gone forever. Seven years of famine are here, and they will end with the “ten Egyptian plagues,” which will force us to come out of Egypt – our egoism. We will have to transform the entire economy from egoistic – based on maximum profit, to altruistic – based on maximum bestowal.
As a matter of fact, I did enjoy meeting him, especially when he recited his poems!
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