The Nobel Economist

The EuroCrisis – A Cultural Crisis – Part 5: Capitalizing on Business Cultures

Where do I come from? Do I come from the Past, or from the Future? Is Argentina, the country I was born and raised in, the FUTURE of EUROPE? As explained in my release "Revolution 4.0 and the Man of Tomorrow - Parts 1 & 2", Argentina was the country to receive the most European migrants after the US. From 1880 to 1970, European migration contributed to the country´s growth. The immigrants established themselves in different parts of the country, forming communities. They contributed their heritage, customs, and also business culture. Buenos Aires housed more than 2 million italians and 1.4 million Spaniards, contributing to all aspects of daily life. However, they were not the only migration group. French, Germans, Polish, Greek, Scandinavians... they established their businesses and contributed to local cuisine and heritage. On a personal level, beign a 4th generation Italian I have only been influenced by Italy as any other Argentinian born and raised in Buenos Aires. However, having a norwegian mother, beign a lutheran and a norwegian grandfather who was a very sucessful businessman in Argentina, it would become evident that my business style is most definetely scandinavian (old day norwegian style). It is clear that if you are born and raised in a country you are FROM that country. But does that mean that you belong culturally to that country? After the 1970s, Argentina did not know how to make the most of migration waves that were not European. Bolivian and Paraguayan migrants might not have much to contribute to business from a historical perspective. But you could never say the same about Peruvians, heirs to the most advanced indigineous culture in the region: the Incas. 

But the most shameful example of wasted talent have been the Koreans. In an interchange program, the South-Korean communitity rearched 50.000 strong in the 1990s. They established their businesses and hired bolivians as cheap labour. Obtaning a residence permit in Argentina did not come cheap: businesspeople who sought to establish themselves and obtain a residence permit had to invest USD 100.000. They had their own religion, language, and traditions (Taekwondo was popularized by the Korean community already in the 1980s). Koreans born and raised in Argentina were of course... Koreans. Not satisfied with the opportunities Argentina had for them, many moved to the USA. The community is only 20.000 strong today. In the same period, Korea´s GDP x Capita has grown from 5.000 USD x capita in the 1980s to over 25.000 USD x capita today! South Korea´s economy was one of the world´s fastest-growing developed countries in the 2000s, along with Hong Kong, Singapore, and Taiwan the other three Asian Tigers. For Koreans, moving to Argentina turned out to be a very bad business.

Will Europe understand that the different non-european communities that are established in Europe TODAY have a lot more to contribute than Sushi and Kebab? Will Europe understand that the asians born and raised in Europe also deserve equal opportunities, both in the job market and also in the business world? The first step is to understand cultural differences. The second step is to embrace them. Muslims, Asians, Africans, Latinos... they can be used as bridges into other dimensions to expand in a globalized world. In my release "Where No Man Has Gone Before: the Road to the Fourth Industrial Revolution" I take you through a journey throughout civilizations to understand how different cultures have contributed to technological and industrial development. Born and raised in Europe, the members of the communities will still be culturally different. This is actually a positive thing, if correctly capitalized. Or Europe can also choose to segregate, discriminate and opress those that are not of European origin. And become the NeXT... Argentina!!!