Should an 81 years old Scot, have had more right to vote on Scotland independency than a newborn Scot?

Sir, on your first page September 19, we saw the photo of a Jock Robertson, who from how he is dressed is undoubtedly a Scot, and who says: “I have waited all my life for this vote”.

He is 81 years old… and my first though was, I am sure he might deserve to vote, and I am truly happy for him… but, really, should an 81 years old Scot be allowed to vote for on the future of Scotland, when all those under 16, and who will be much longer affected by the outcome cannot?

And it is not that I suggest new born should vote… but I wonder if Jock Robertson, exercising a voting right in the name of perhaps a young grandchild of his, would vote the same as he voted his own vote.

In these baby-boomers’ days and when so many of those 18 to 25 year olds do not seem sufficient interested in elections so as to look up from their I-pads, I have often thought that democracy would be much more dynamic and responsible, if mothers, or fathers, were allowed to vote in the name of their children…

And I say this also because then perhaps we would be able to have governments who do not accept the risk aversion of regulators, and which have banks not financing the future but only refinancing the past.

In 2006 I published an Op-Ed in Venezuela that stated: “Whenever on television we see a desperately poor mother telling how she has been let down again by politicians, it just evidences that her voice and her vote does not count enough.

If that mother, or father, besides speaking in the name of her or his own voting rights, were also speaking on behalf of the votes of their children, her or his voice would carry much more power.

Since it is the young who will benefit, or suffer, for a longer time from what governments’ do or not do, they not only should have a vote but also perhaps have more votes than adults. In some countries, especially those who demographically are in the process of becoming real baby-boomer dictatorships, the lack of representation of youth can have serious consequences.

We see all around us how the short-term interest reigns, we even hear now about accounting in real time, while problems that are perceived as of a more long-term nature, such as protection the environment [and lack of jobs] accumulate everywhere.

To assign a voting right to the newborn, can be the most effective way to remind all other voters that there are also who are interested in what might happen in eighty years time.”

In summary, if the average life is eighty years, a new born should have 80 votes (exercised by his mother or older brother) someone like me would have 16 votes left, and someone over eighty should count his blessings and be glad if he is allowed to keep one as a memento. I do not want to owe the world to my children, I want to assure their rights as stakeholders and make it all more of a joint venture.

http://onechildonevote.blogspot.com

Britain, frankly, don’t you think your forefathers would be ashamed of you.

Sir, I refer to Mure Dickie´s “Battle for Britain”, September 18.

As a professional, with an MBA, I left a very good paying job in my homeland Venezuela, and with the financial support of my father in law, spent a whole year with my wife in London, as an intern at Kleinwort and Benson, and studying corporate finance at London Business School, and International Economic at the London School of economics.

Now, why on earth would I do a thing like that? If I had to explain it, besides of course being alone with my wife, and the English music groups of the 60s, it would be because of Winston Churchill, the traditions of English merchant banks, and British stiff upper lips.

And therefore it has been so sad to me to observe over the last decade, how for instance the Financial Times, the paper I then eagerly read and now just read, does not care one iota about the fact that bank regulations, with credit risk based capital requirements, is making Britain into just another run of the mill risk-adverse nation.

Frankly, don’t you think your forefathers would be ashamed of you.

And then, same day, I read John Gapper admonishing “Scotland has to be braver to build strong banks”, and my reaction is… is this a joke? What about Britain recovering some of its own brave banks?

PS. How is it possible that FT finds nothing wrong with banks being able to leverage so much more their equity for what is perceived as absolutely safe than for what is perceived as risky, when those credit risk perceptions have already been cleared for with interest rates (risk premiums) amount of exposure and other terms? If you absolutely must distort with capital requirements, would it not be better to do so with a purpose, like the creation of jobs or the sustainability of mother earth?

PS. FT has been squarely in favor the NO with respect to Scottish independence. Can you imagine what we could have achieved if FT had taken a similar position on allowing some unelected regulators to distort the allocation of bank credit in our economies?