Subject: Re: Greenspan: Globalisation vs Terrorism.
Date: Sun, 10 Dec 2028 10:43:54 -0600


I didn't read him as saying that globalism had been effected, so much as
warning against the public's fear of terrorism leading to a new isolationism
that would fail to protect the U.S. from terror but would hurt its economic
strength.
mal


----- Original Message -----
From: <steve.devos-AT-tiscali.co.uk>
To: <lyotard-AT-lists.village.virginia.edu>
Sent: Monday, December 10, 2001 9:53 AM
Subject: Re: Greenspan: Globalisation vs Terrorism.


> Glen
>
> Fascinating, what a weird and parochial definition of terrorism.
>
> It's also worth noting however that some areas of the new generation
telcos,
> VPN, data and networking are anticipating an increase in virtual movement
to
> replace the physical movement of (business) travel... Basically it becomes
a
> shift in budget from travel to networking...
>
> The strangest thing may  be that he imagines globalisation has been
affected
> by terrorism..
>
> regards
> steve
>
> fuller writes:
>
> > Here is a something I found in the Weekend Australian Financial Review
that
> > I thought you people would find interesting:
> >
> >     Globalisation as a rebuff to terrorism
> >
> >     The US Federal Reserve Board's chairman, Alan Greenspan, speaking at
> > George Washington University on December 3.
> >
> >     The United States has benefitted enormously from the opening up of
> > international markets in the postwar period. We have access to a wide
range
> > of goods and services for onsumption; our industries produce and employ
> > cutting-edge technologies; and the opportunities created by these
> > technologies have attracted capital inflows from abroad.
> >     These capital inflows, in turn, have reduced the costs of building
our
> > country's capital stock and added to the productivity of our workers. It
> > would be a tragedy if progress towards greater openess were stopped or
> > reversed...
> >     Terrorism poses a challenge to the remarkable record of
globalisation. A
> > global society reflects an ever more open economic environment in which
> > participants are free to engage in commerce and finance wherever in thw
> > world the possibilities of increased value added arise. It fosters ever
> > greater cross-border contact and further exploitation of the values of
> > specialisation but on a global scale.
> >     Fear of terrorist acts, however, has the potential to induce
> > disengagement from activities, both domestic and cross-border. If we
allow
> > terrorism to undermine our freedom of action, we could reverse at least
part
> > of the palpable gains achieved by postwar globalisation. It is incumbent
> > upon us not to allow that to happen...
> >     Globalisation, admittedly, is an exceptionally abstract concept to
> > convey to the general public. Economists can document the analytic ties
of
> > trade to growth and standards of living.
> >     A far greater challenge for us has been, and will continue to be,
making
> > clear that globalisation is an endeavour that can spread worldwide the
> > values of freedom and civil contact - the antithesis of terrorism.
> >
> > ------
> >
> > I wonder what he means by "further exploitation of the values of
> > specialisation"?
> > Personally, I don't think the wolf in granny's bed of globalisation is
that
> > different from terrorism.
> >
>