Denis Pitcher has a great post applying the concepts behind the book How the Mighty Fall and the 5 stages of decline.
STAGE 1: HUBRIS BORN OF SUCCESS
STAGE 2: UNDISCIPLINED PURSUIT OF MORE
STAGE 3: DENIAL OF RISK AND PERIL
STAGE 4: GRASPING FOR SALVATION
STAGE 5: CAPITULATION TO IRRELEVANCE OR DEATH
Without action - a repositioning and reinventing of Bermuda ...pronto - our economy will be in Stage 5 before we know it.
It's happened with tourism. In the words of T.S. Eliot:
This is the way the world ends
This is the way the world ends
This is the way the world ends
Not with a bang but a whimper.
Will complacency and denial do the same to our sole remaining economic pillar?
