Respectful economics ethics, class, a few lessons learned - all wrapped up in New Year's reflections. What once was old is new again, and with the mass arrival of the Call for Respect Brochure in everyone's mailbox recently, perhaps, we've made a start back on the right track. The message was conceived and disseminated at a precipitous time in our collective history. We are heading into a virtual economic unknown next year, a situation that Bermuda and her people has not faced in many of our lifetimes. We are at a tipping point in the never ending initiative to market the prowess of our international financial centre, our sophisticated regulatory infrastructure, our stellar starlight climate and the inherent charm of our people.Respect is absolutely necessary if there is to be a coming together in an economic common cause to renew the vitality of our island. Respect for one another is a unifier that can transcend all boundaries. Respect for an individual is integral with other virtues: a personal code of ethics, truthfulness, honesty in personal conduct and dealings, a class act.I have, as I think most people do, enormous respect for the person who is brave enough to tell the truth. It takes courage to admit to (and apologise for) personal shortcomings, miscalculations, and errors in financial judgment, not to mention just downright mean behaviour. Avoidance, subterfuge, dancing around issues, minimising bad news (economic or otherwise), and advancing one's own interests first shows a complete lack of respect for oneself, family, friends, and community.It is true that we all act in our own best self interest. The moral challenge is to use opportunities for maximum benefits without hurting people along the way. The inability to be honest in one's heart and mind diminishes a person; it neutralises his or her best efforts, turning admiration from others into distrust, cynicism and rejection.Lessons learned: We've learned a few good lessons. Many have also experienced some terrible lessons in the Year of our Lord 2010. We will leave the terrible lessons isolated and behind us; they've been culled over, and picked at with more regrets than the human spirit can absorb.We've learned that people, almost all people, possess innate goodness within them. In tough times, across all social, economic, and cultural boundaries, individuals and their businesses have stepped up to help out those less fortunate. We are learning that we will need to pull together to move our country forward, that a dream economy and our assumption of star power cannot survive indefinitely, without the best efforts of all of us.We've seen international and local examples of caring, integrity and courage.The Billionaires Step up. This was the year of the “megagivers” (www.thegivingpledge.com). The call to give for those who cannot spend their personal fortune in a hundred lifetimes came originally from Warren Buffet and his friend, Bill Gates.To date, more than 40 billionaires have pledged fifty percent of their personal fortunes to charity. Among the more recognisable names: Michael Bloomberg, Mayor of New York City: Carl Icahn, American financier, Larry Ellison, CEO of Oracle; Diane Von Furstenberg, fashion designer icon; James Simons, Renaissance Technologies; and the newest and youngest, Mark Zuckerberg, co-founder of Facebook.On a local level, our thanks and our admiration go to the following who have given over and over to humanitarian causes.The Salvation Army, in Bermuda for almost 115 years, whose life's work from their army of Christ's soldiers, is their committed respect and caring for the individual and his/her human soul in need everywhere.Dr Christopher Johnson, MD, for bringing the gift of a normal face to children with no access to medical care. For more than 20 years, Dr Johnson has made mission trips with a team of dedicated volunteers delivering reconstructive surgery to the poorest of regions in Ecuador, Tanzania, Zaire, and Haiti.Philip Rego and his Feed My Lambs ministry in Haiti, who has sold his Bermuda business and committed his life to the mission of caring for others.Dr Tiffany Keenan, MD, of King Edward Hospital, for her devotion to the Haiti Village Health clinic.Fern Wade, the Hands of Love Christian Ministry founder, who has spent her entire life caring for those without.There are many other humanitarians among us. They do the right thing, because it is - the right thing to do. Ordinary people can change the world.New Year's reflections wouldn't be complete without a few more observations.Expect nothing in this world, deliver everything - to your FAMILY, friends, your employer. Yes, you may not feel appreciated, more times than you'd like, but you still have your self respect and I might add, the respect of others.In all that you do, always take the high road. A class act tops crass behaviour, every single time.Be grateful. You are still alive to give thanks.Best wishes for a Health Happy New Year, 2011.Martha Harris Myron JP, CPA, TEP, is an international Certified Financial Planner practitioner specialising in tax, estate, and strategic retirement services for Bermuda residents with cross-border and multi-national connections, dual citizens of the US and Bermuda, and US citizens living abroad. She is the American Citizens Abroad Country Contact for Bermuda www.aca.org and a Masters in Law candidate in International Tax and Finance. For more information, contact martha.myron[AT]gmail.com or 296-3528 Patterson Partners Ltd.