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November 01, 2008

Credit where credit's due

It's amazing how many people have a flutter on the lottery.

It's notable how much money has been made on a hedge on the stock market.

It's worth remembering the value of stocks and shares can go down as well as up.

It's a predicament that there's now not enough credit to go around.

What's completely remarkable is markets have had so much propulsion - because of risk not despite it. So it's ironic that, because of these risk games that have gone wrong, now there's too much risk for people to take a chance on credit the way they used to.

We should have been betting on a sure fire thing.

So now we have a chance. New forms of credit are emerging that are far better than the old ones and it's turning out that the kind of credit that can make a difference are the ones that are a little more homespun.

They're the kind of credits you give to your friends, your tribe members, to people that are close to you. Affinity and proximity have substantial value essentially because it's trustworthy when the chips are down.

It's reputation that matters, that's a better bet than most. And reputation is the kind of value that's generated when people give credit where credit's due.

People all over the world are reviewing the credit crunch and they're asking what we could do better. Are they thinking about the kind of credit fix we can all generate when someone does something remarkable and makes a difference and we credit them?

What would that do to world markets do you think in terms of growth potentials and value generation?

What wealth do we generate together when we are able to credit the unique contributions that someone did because they cared, because they used their skill, their talent and their voice to make a difference?

And why is it do we believe for one moment we're not capable of using all our unique gifts to create remarkable things rather than to pass something off 'as is', which is so often the case in marketing?

As Marianne Williamson says, 'Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness, that most frightens us'.

We need - urgently - to give credit where credit's due, to each other. When people step up and do things and when they make a difference. Building your brand helps, finding your voice, knowing that you'll get credit from fair-minded people that allow you to step up and building your reputation not appropriate or exploit it. This encourages contexts in which possibilities and potential become valuable.

By working in a tight community or a tribe, the possibility to create fair-minded credit becomes possible. Because the thing is, it's all traceable, technology makes it so. It's safe.

So why not keep the credit we give to those we trust going and build reputations in this way? Let's do it because by association when they win, we win. We want to credit something therefore when it's good.

This is the way our economy becomes headed in ways that are most rewarding, spontaneously. And it's a lot less risky than where we've been going.

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