Generational contract [Archives:2006/962/Viewpoint]

July 10 2006

Meeting His Royal Highness Prince Hassan bin Talal is a very special and unique experience. Not because he is a prince, but rather because he is a man of thought and a very passionate thinker. He is one of the few driving forces in the Arab and Muslim world, and has established many organisations and institutions that aim at making the world a better place.

During my delightful interview with him, he talked about the generational or historical contract. It is the obligation and commitment towards the future generations whereby we confirm their right to a better life; a life, which we the current generation manipulating the resources and the fates, are destined to impact. He gave the example of Norway where a fund for future generations was created. Through this fund investing in future, development projects take place the same way parents put aside money for their children's education.

This is not the first time I come across such a concept. In fact, once a Yemeni businessman brought up this topic while complaining about the way investment is abused in our country. “At least leave the underground wealth buried for the future generations instead of exhausting our resources this way