The Long Term: Investment, Human Capital, and Values: The Role of Government and Universities

Europe and USA suffer more or less the same condition ? over-indulging the people to the point of running out government savings. Because of this, government keep borrowing, piling the debts that finally end up at economy recession where people cannot keep up paying their taxes. Ultimately, government lost its moral authority and leadership.

Then, how does it go for the countries in Asia? Prof. Bernard explained that Asia countries have high saving and investment rates that make Asia?s growth quite strong compared to Europe and America. However, this growth also brought negative impacts for the people. It requires many efforts from the people that induce stress and poor health condition ? and finally innovation from people become somewhat slower. Prof. Bernard also added that country that successfully managed this kind of problem is USA ? when it was still in its development stage. The problems that hit USA at that time were underage-workers and high cases of malnourished-children. After finally solving these problems, USA had a significant boost in its growth.

Seeing the Europe crisis, USA declined growth, and Asia overwhelming works, how can we survive amid the economy instability? Prof. Bernard said that we have to be pragmatic ? starting from what we currently have; how to empower the people to do the right thing. Governments also have to partake the effort by upholding the moral authority and working hand-in-hand with universities who have the role to develop the moral values. Beside that, Prof. Bernard also thought that great civilizations are supported by great higher learning institutes, for example in USA where many renowned universities are situated in there.

With universities? role as the developer of students? moral value and the determiner of the nation?s future, Prof. Bernard stated, ?You are the future of the world. Learn to be a person who can help to create a better world.? Before ending his lecture, Prof. Bernard gave some advices on how to be a successful entrepreneur, ?Always stay-curious, always asking, and forget about making money because a successful entrepreneur is about making a difference in the world.? (lau)