Unusual confluence

The ever-changing mix of challenges in our interdependent economy can create new and surprising confluences of interest. For instance, the alliance of left-wing liberal environmentalists with conservative communities of faith who are interested in environmental stewardship. Here's another one: Bill Clinton and Arnold Schwarzenegger co-authoring an article in the Wall Street Journal.

Beyond Payday Loans

Here is one initiative that can unite progressives and conservatives as well as business leaders and community activists: helping the "unbanked" enter the financial mainstream by opening checking and savings accounts, and working collaboratively with financial institutions and community groups to develop and market products that work for this untapped market. [...] Imagine the economic and social benefits of putting more than $8 billion in the hands of low- and middle-income Americans. That is the amount millions of people now spend each year at check-cashing outlets, payday lenders and pawnshops on basic financial services that most Americans receive for free -- or very little cost -- at their local bank or credit union. Over a lifetime, the average full-time, unbanked worker will spend more than $40,000 just to turn his or her salary into cash.

Who knows if this particular idea will work. The point is that Clinton and Schwarzenegger are both capable of thinking outside the usual party lines as well as outside the current structures of institutions. They are able to say, "Hey, why can't banks serve this other set of customers? What would we have to do to make that possible?" Flexible thinking, aligned with an ethical goal, is an important tool for making progress. In this time of election, it's worth checking the candidates against this ability -- those without it will probably not help society much.