Saturday, November 17, 2012

Work on what is desirable, not what is feasible

I am at a conference on the North American Free Trade Agreement, hearing about lessons one can learn from the EU (don't have a common currency, do have structural funds). It is clear that economics is not a zero sum game and free trade areas really do hugely benefit everyone involved. 
But it isn't signing an agreement or a charter or even a constitution that makes this happen, as much as a wise approach to regulation. US regulatory agencies are powerful, and they can be islands - not necessarily connected to the big picture. Someone is telling the story of how regulatory differences are hurting trade in North American jellybeans -- and how many more industries would flourish if regulations were unified, clear, and protective of consumers without being too rigid and holding back economic growth?
"You need large ideas to overcome the small obstacles," says Bob Pastor, Director of the Center for North American Studies at American University. He adds a piece of advice for government agencies: "Work on what is desirable, not what is feasible".
Those words strike me as a mantra for life. How often do we focus on the short term, on getting through the day, the month or the quarter? 
Every so often we should stop what we are doing, close our eyes, and ask ourself what the big picture looks like, what is the direction, what is the dream. Then our large ideas will become clear enough to overcome whatever small obstacles are keeping us focused only on the feasible. Worth thinking about.