The Rumi Forum presented “Global Financial Crisis and the Fate of Capitalism” with Dr. Necati Aydin, Director of the Nueroeconomics and Well-being Program at Florida State University
Event Summary:
Global capitalism currently experiences the most severe and costly crisis in its history. As put it by the former chairman of FED, Alan Greenspan, this is a “global economic tsunami” which happens a once in a century. Starting in the real estate market, the tsunami has left almost no part of the world untouched so far. While governments around the world are working hard to set a Keynesian policy to deal with the crisis, many people are discussing the fate of capitalism. The Economist magazine came up with the cover story of “Capitalism at Bay” in its October 2008 issue. Two decade ago, with the fall of communist regime in Russia, liberal capitalists around the world declared the end of history claiming the capitalism based on free market competition is the best system ever. Ironically, many of those people now are seriously questioning the “free market madness”. Dr. Aydin presented the root causes of the current crisis in terms of fundamental flaws in capitalism regarding its assumptions of human nature. Dr. Aydin offered some suggestions to fix the current tsunami and prevented the greater one, “happiness tsunami”, which might come soon.
Biography:
Dr. Necati Aydin currently works as the director of the Nueroeconomics and Well-being Program at Florida State University. The program specializes in well-being studies both at individual and societal levels bringing experts from different subject matters to conduct qualitative and quantitative analysis of happiness related issues. Dr. Aydin received his bachelor’s degree in Public Finance, master’s degree in International Economics, and doctoral degrees in both Education and Economics. He has been working as a researcher since 2002. He has conducted research in variety of topics including local and state government budget analysis, economic impact studies, tourism, higher education, virtual education, information technology, and Medicaid. Dr. Aydin has completed over thirty research projects; authored six, translated two, and co-authored three books; and published many peer-reviewed articles. He also writes op-ed articles in Zaman, the most widely circulated Turkish newspaper. He has written several articles and book chapters on happiness in Turkish and English for several years. One of his articles on happiness titled “the Struggle between Virtue vs. Decadence: The Struggle of Civilizations within the Global Village” was published in a book by Ashagate in England. The other one titled ` (Happiness) Crisis of Global Capitalism` was published in Turkish. Dr. Aydin currently works on a book project titled as “A Happiness Path for Everybody”. Dr. Aydin is married with five children.
Moderator :
Mr. Tariq Shafi, CPA, has over twenty-five years of accounting and tax experience in the Washington metro area and London, England. He was a tax and accounting manager for six years at a prestigious firm in Old Town Alexandria before venturing out on his own in 1995. Since then, his practice has grown steadily as word has spread about his firm’s high reputation for quality service at a reasonable cost. Mr. Shafi and his staff believe strongly that building ties with the community involve giving their time and effort to worthwhile causes and they are active participants in local charitable and educational institutions.