Issue link: https://maltatoday.uberflip.com/i/1513566
8 OPINION 21.12.2023 Symbolism and themes in 'O Fortuna' George Mangion George Mangion is a senior partner at PKF, an audit and consultancy firm, and has over 25 years' experience in accounting, taxation, financial and consultancy services. His efforts have made PKF instrumental in establishing many companies in Malta and established PKF as a leading professional financial service provider on the Island T here is no direct or explicit link between the cyclical changes in global wealth and the vagaries of fate depicted in "O Fortuna". However, one could draw metaphorical connections between the themes of fate, for- tune, and the unpredictability of life portrayed in the fluctuations in future prosperity. "O Fortuna" is a part of Carl Orff 's cantata "Carmina Burana", which draws inspiration from medieval poetry and themes. e lyrics of "O Fortuna" express the idea of fate, the wheel of for- tune, (see picture) and the capri- ciousness of life. Europe's dwin- dling wealth experiences cyclical changes influenced by various factors such as inflation cycles, challenges of A.I, market trends, geopolitical events, and robotics. ese fluctuations can lead to shifts in the distribution of wealth, affecting individuals, businesses, and nations differ- ently. e concept of fate in "O Fortuna" can be metaphorically linked to the unpredictable na- ture of wealth cycles. Just as the wheel of fortune in the famous Carl Orff lyrics represents the ups and downs of life, the cycli- cal changes in wealth can bring bounty or adversity to individu- als and societies. e dramatic and intense na- ture of the "Cantata" can sym- bolize the volatility and uncer- tainty that often accompany life cycles and economic fluctua- tions. While there is no direct historical or empirical evidence linking "O Fortuna" to cyclical changes in private wealth or happiness, one can interpret the themes and emotions conveyed in the music to draw metaphor- ical connections to the unpre- dictability of economic fortunes. "O Fortuna", the first of the two pieces that comprise the Carmina Burana's opening se- quence, turns out to be a great fit for readers to act contrite and prepare their road map to face the New Year with solid inten- tions. I chose the theme of the spinning wheel of fortune for my article as fate itself is an immuta- ble, inscrutable, and above all, fickle force. Over and above, the poet calls Fortune, veiled and shadowed; ravaging and healing; and treat- ing human life as a game. For- tune cuts down even the strong- est man, the poet sings, "so everyone, lament with me". Looking back on 2023, we wit- ness the vagaries of war, famine, triumph, disease, love, forced migration and loss. In the Car- mina Burana "O Fortuna" shows two key differences that separate this poem from the third one. First, in "O Fortuna," theme, For- tune is portrayed as almost a dis- embodied force. Fortune might seem good, for- tune might seem bad; the point is, fortune is beyond us all. is, in the end, marks the signifi- cance of the Wheel of Fortune in a ceaseless parade of torment, but also a cycle of rising and fall- ing, and a warning not to take anything for granted. Having discussed the immedi- ate past, what are the prognosis for next year? e IMF econo- mists make sobering comments on the prospects of the global economy. ey comment: "e painful recovery from the COV- ID-19 pandemic followed by Russia's invasion of Ukraine re- mains slow and uneven". Despite economic resilience in early 2023, with a reopening re- bound and progress in reducing inflation from previous year's peaks, it is too soon to give com- fort. Economic activity still falls short of its pre-pandemic path, especially in emerging markets and developing economies. Even if companies are becom- ing increasingly wary of the need for broader responsibilities, par- ticularly in terms of their carbon footprint on the environment, they also need to recognise that lasting sustainability is best achieved provided it does not unduly compromise their com- petitiveness. Refer to COP28, climate conference in Dubai where highly camouflaged com- prises were heard saying fossil fuel will be phased out. Conversely, even though green solutions may sometimes seem costly, they can also lead to val- ue-added growth by setting a stronger corporate reputation, apart from some consequential social and financial benefits. is change in mindset is slowly but steadily gaining traction, so "Fortuna" is smiling. But on a domestic scene we must come to terms to the is- sue of expensive housing, many agree that government subsidies cannot keep up with the spiral- ling cost of houses. Particularly for the low-income families. A recent study has discovered a new social stratum termed the 'stretched class' who suffer from this syndrome. Malta hosts a number of persons who are not welfare dependents but whose in- come from work is not sufficient for them to find adequate hous- ing arrangements with banks at affordable repayment rates. Perceptions on specific issues can ebb and flow, but a long- term negative trend is develop- ing in the public's view of the country. is year has certainly not been a good year for those who value integrity in public governance. In fact, conferences on Eth- ics and State Governance have not featured prominently in the annual libretto of Castille even though it appointed a Czar to head a coalition of hand-picked members of the ESG Alliance. National protests by NGO's, death threats towards civil ac- tivists, inflammatory language online and over the airwaves, and the language of politicians themselves are turning Maltese politics into a tug of war. It is worrying that 85 per cent of Maltese expect their stand- ard of living to decrease over the next year. Is O Fortuna turning its face towards the dark face of the Wheel? How will this trans- form the very nature of our de- mocracy? In this environment, politicians have little to gain and much to lose by not trying to find common ground with the opposition. Issues that are not inherently partisan such as electing a president with a two thirds majority are becoming politicised. What is even more of concern is that a terrifying culture of im- punity has been created in the heart of the administration at Auberge de Castille, where sev- eral scandals have been rooted with the ultimate goal of buying the votes (a flurry of cheques soon to hit the letterboxes). But it is not all doom and gloom as the Wheel of Fortune grinds on. e positive economic con- tribution of tourism, large as it may be, should be considered as a panacea given the strong com- petition from other resorts in the med. Again, realists caution us of the negative social and environ- mental side effects associated with this booming industry. e social downsides relate mostly to social discomfort caused by overcrowding (eg Comino), traf- fic congestion and disagreeable behaviour by some tourists, in- cluding late-night noise. In conclusion, nobody can foretell what is coming in the future but prepare to tighten our belts unless inflation, the Rus- sian war and cost of living con- tinue to worry us next year. Best wishes for the festive sea- son.