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Post re: Economics: November 15 G-20 Summit in Washington; Tom Grey's Post from 2000 (Bienvenido Macario, Philippines/US)
Created by John Eipper on 11/11/08 6:49 AM - re-economics-november-15-g-20-summit-in-washington-tom-greys-post-from-2000-bienvenido-macario-philippinesus

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re: Economics: November 15 G-20 Summit in Washington; Tom Grey's Post from 2000 (Bienvenido Macario, Philippines/US) (John Eipper, USA, 11/11/08 6:49 am)

JE:  As the 11th hour of the 11th day of the 11th month approaches (here in the US Eastern Time Zone), WAIS seems to be taking on a retrospective tone.  Bienvenido Macario, our Unofficial Archivist and Tireless Scourer of WAIS Wisdom of Yore (UATSWWY), sends the following item:

I was looking for an old post when I chanced upon this WAIS post that may be relevant to Jon Kofas's recent piece on the Nov. 15-16 G-20 summit.

The post dated Dec. 28, 2000 by Tom Grey, suggests that "global capital markets are dominated by NYSE & US SEC requirements for listing in the NYSE which are American rules."

Does Jon Kofas believe the US dominates the global capital market through the NYSE then?  How about today?

By the way, in 2002 Tom Campbell accepted the appointment as Dean of UC Berkeley's Haas School of Business.  Then then became the Director of Finance for the State of California in 2004 and 2005.  Last summer he stepped down as Dean of UC Berkeley's Haas School of Business, and in Jan. 2009 will start a two-year visiting appointment at the Chapman
University School of Law.

GLOBALIZATION: US Corporations and the State Department

Each WAISer has his own intellectual and spiritual history. Tom Grey received his AB and MS in Engineering Economic Systems at Stanford, and twice ran for Congress as a Libertarian against another WAISer, Stanford Law Professor Tom Campbell. After a professional career in the Bay area, he married and settled in Bratislava, the capital of Slovakia, not far from Vienna. He has become more sympathetic to the Catholic Church and may no longer be "a radical free-marketeer," as this message from him reveals:  

Globalization is not a "plot," but all US/global corporations are trying to make profits, to please their investors.  When done honestly and in accordance with voluntary contracts respecting property rights, especially for the poor, profits are the most accurate measure of increases in materialistic wealth.  

For American-based global companies to claim they are "not" American is stupidly misleading.  Misleading because global capital markets are dominated by New York Stock Exchange & US Securities Exchange Commission requirements for listing on the NYSE -- therefore the capital markets are dominated by American rules; and the capital markets dominate the decision makers of global companies.  The protesters definitely know this, whether they see it clearly and understand it, or not.  

It's stupid because an essential moral/spiritual argument can never be won by such obvious lies or, at best, half-truths.  The State Department at least has the idea to stress honesty, transparency, democracy, etc.  The corporations, as they so often do, fail utterly to admit their job is make profits/dividends for their shareholder owners (mostly institutions such as insurance & investment funds, owned by the middle classes).  Worse, they fail to educate that profits measure wealth creation, and there must be MORE wealth creation to reduce poverty.  

It is not the job of corporations to redistribute the created wealth to the poor; many protesters accurately feel this most intensely.  "People before profits" -- meaning they, the protesters, want to control other people's money "in some way," to help "the poor," or whoever they want to help. Essentially socialistic/communistic (with or without a human face), government should be in control.  This is their underlying idea which has basically lost in middle-class dominated materialistic democracies, but it's an idea with many strong, if not fanatical, "true-believers."

These socialists, national or communist, have certainly created far more death in the 20th century than all the religious wars/conflicts for the last 200 years.  This impacts the question about religions being obstacles to peace ... as compared to what? "  

RH commented: I'm a little confused. Is Tom saying that religious charity should do the job? What does he think of the Pope's "ideas,"  which are really little more than a homily? the word "socialist" has various meanings. The Pope represents Christian socialism.

JE comments:  Tom Grey is still on the WAIS mailing list, but we haven't heard from him in years.  Tom, are you out there?  Are you still in Bratislava?    We'd be grateful to receive an update.

For information about the World Association of International Studies (WAIS), and its online publication, the World Affairs Report, read its homepage by simply double-clicking on: http://wais.stanford.edu/

John Eipper, Editor-in-Chief, Adrian College, MI 49221 USA

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