Nothing characterises the more hilarious side of the Swedish personality than the tendency to fall into mindless group-think,
When you see it happening you just have to laugh. The Swedish bank JAK that purports to be interest – free and needs high interest rates to survive is about to do it again: choose group-think over common sense.
The annual meeting is coming up. Not one word about how to handle the zero interest situation. There’s a big fracas about why the board drew in free workshops instead of letting the bank run at a loss.
For anyone considering engaging with this Bank on the brink of a major fall I offer the following (completely personal) analysis using the find five mistakes approach
1st Mistake It’s just words. Being a member of the cooperative should give you “Economic Freedom”. Right. And just how? By having a more expensive loan? By reading the JAK book? JAK has an ideology. Right. Where? JAK is for local development. Just how? It’s all just words in JAK boken. They don’t even have the guts to put it on the web as its obvious the lights are on but no-one is home, they are all watching group think TV.
2nd Mistake. Have not one influential economic/social justice thinker be behind any coherent part of the ideology. JAK bank quotes Margit Kennedy, but I know from people who met Margit that she says “any organisation focussing solely on interest is certainly not addressing the real problem of today’s monetary system”. Believe me. There isn’t ONE accepted authority that can pinpoint JAK’s ideology and agree with it.
3rd Mistake. Set it up so its is impossible to have any influence on any part of the organisation whatsoever. You heard right. The rules and regulations make it so that you can only influence by sending in a motion to the annual meeting. As the board decides on the budget if they don’t like your motion (Should it pass) they just don’t put any budget on it.
4th Mistake. Set up as a cooperative but not follow cooperative principles. You heard me again. A cooperative exists (in Sweden) to promote the economic benefit of its members. Time and time again you will hear leading JAK members say this is not important. As if they can re-write the statutes. If they don’t want it to be important they should start an organisation where it isn’t important. But don’t pretend. Don’t go on mired in group-think with the idea you can have that in your statutes but basically ignore it.
5th Mistake. It is totally uninteresting to be a local member. Unless you are in love with the group think, that is. I have heard that people go on JAK workshops brimming with enthusiasm to get involved in developing the local economy. All to find that local organizations are expected to spread the JAK message that interest is bad and you’d be better off with a JAK loan. Actually helping local businesses, local organisations, actually doing something useful ( I admit selling hot dogs with the sign “with interest 10 kr. Interest free 5kr” is a bit of fun). But cummon don’t they have anything better than that.
Don’t get me wrong. I admire JAK bank. I like some of the people involved in it and follow their blogs and stuff. And I think the basic intentions are good. But what gets me is how such sensible people can fall into such stupid group think.
I blame the right wing media myself, but then I am partial to a bit of conspiracy.
Exposing Swedish Crap 