Janera hosts a discussion on new forms of capitalism with Jeffrey Sachs, the Director of the Earth Institute at Columbia University and author of The End of Poverty, and Matthew Bishop, the New York Bureau Chief of The Economist and co-author of Philanthrocapitalism.
Matthew Bishop is the U.S. business editor and New York bureau chief of The Economist. His new book, The Road from Ruin: How to Renew Capitalism and Put America Back on Top, with Michael Green, was published by Crown in February 2010. Philanthrocapitalism, his previous book (also with Mr. Green) was on the global revolution under way in philanthropy. Mr. Bishop is also the author of Essential Economics, The Economist's official layperson's guide to economics. Mr. Bishop is the author of several of The Economist's special report supplements, most recently "A Bigger World," which examines the opportunities and challenges accompanying the rise of emerging economies and firms. Before joining The Economist, Mr. Bishop was on the faculty of London Business School.
Jeffrey Sachs is the Director of the Earth Institute at Columbia University. Since 2010 he has also served as a Commissioner for the Broadband Commission for Digital Development which leverages broadband technologies as a key enabler for social and economic development. He has authored Common Wealth: Economics for a Crowded Planet.
Originally one of the youngest economics professors in the history of Harvard University, Sachs became renowned for implementing economic shock therapy throughout the developing world, and subsequently for his work on the challenges of economic development, environmental sustainability, poverty alleviation, debt cancellation, and globalization.
Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation technologies and services, mass migration and the movement of peoples, a level of economic activity that has outgrown national markets through industrial combinations and commercial groupings that cross national frontiers, and international agreements that reduce the cost of doing business in foreign countries. Globalization offers huge potential profits to companies and nations but has been complicated by widely differing expectations, standards of living, cultures and values, and legal systems as well as unexpected global cause-and-effect linkages. See alsofree trade.
"I half expected you to suggest that we all stop breathing because God only knows how much CO2 we produce by exhaling. Denying the problem won't make it go away"
I take it you are one that wants more cooling then? If so, then expect more CO2 production.
I don't believe that CO2 is a problem, but I would expect that those who do think it is (like Al Gore) stop being hypocrites and downsize their extravagant lifestyles. Who can cut back further? Al Gore takes a jet. I walk.
If the GM bailout is about ensuring they can transition us to plug-in hybrids and electric vehicles, why doesn't the government give a bunch of R&D money to Tesla, who is already starting to manufacture all electric cars? I think it's sad that practically all of this country's remaining manufacturing and productive output is dependent on this one industry, so we're kind of stuck having to save them.
4TimesAYear: I half expected you to suggest that we all stop breathing because God only knows how much CO2 we produce by exhaling. Denying the problem won't make it go away...
I think it's clear that Mr Sachs is concerned about "climate change," i.e., the CO2 "problem." If CO2 is a problem, then I would ask him to consider this - how much CO2 is produced by having to heat our homes, businesses, schools, hospitals, and factories to the recommended 68 degrees? For those places that got down to -40 this winter, that's 108 degrees worth of CO2.
I would also ask him to consider how much CO2 is produced by having to clear vast numbers of parking lots, runways, city streets, highways, and interstates every time we get snow, in addition to having to spread tons of salt and sand when we get ice. It would seem to me that global warming is the solution to the CO2 problem.
Since there is also general concern about childhood obesity, we could cut CO2 emissions by making the kids walk to and from school rather than providing "door service." Or quit expanding school sports programs where kids have to be shipped everywhere. Let's also have speakers come in and speak to an entire auditorium full of kids, rather than so many field trips for individual classes.
We are not done with the IC engine; they are trying to force feed us the electric car.
The reason the GM, et al are going under is because they kept producing monster vehicles while gas prices soared. Why should we bail them out? They can get more mpgs out of IC engines if they want to. My brother's Honda Civic (new) sticker had 48mpg in '81. It wasn't a hybrid.
Yes, I believe that we are in transition and the IC engine belongs in history. Having said that, I'm not sure that observation justifies bailing out existing manufacture auto manufacturers compared to other alternatives such as bankruptcy proceedings. Bankruptcy proceedings do not necessarily mean that a bankrupt company simply stops existing and its assets are divided among creditors. Courts may seek ways to reorganize assets, liabilities and organizations, or break companies into smaller more viable pieces. Courts also may urge or require negotiations among conflicting interests.
I think bankruptcy courts can do many things that Sachs advocated. A bailout that preserves existing decision-makers, corporate culture and investors may make the things that need to be done more, rather than less, difficult. Perhaps the gigantic international bureaucracies that typify present global corporations also belong in history.