Saturday, 22 September 2007

An Aristocrat's Idol



I haven't blogged because of a busy busy schedule. School seems to be taking up most of my time with all the tests and papers I have to prepare. Early this week...last weekend actually, I watched 60 Minutes interview Alan Greenspan. I have always been a fan of AG since I was a Freshman in high school reading the Wall Street Journal. The economic boom orchestrated during the Clinton Administration was perhaps the best this country has ever seen. America has just fully embraced globalization, free trade, and was reaping the rewards of technological advancements. It was the birth of a new economy.

This and more is espoused in Alan Greenspan's new book, The Age of Turbulence: Adventures in a New World. The book's essentially a memoir about his life, his philosophy, and his predictions. Marvel at the genius of market capitalism and how it has brought the world closer. Ever wonder why South Korea, Taiwan, Singapore, and China have such booming markets?Read *part* of the reasons in the book. I've only gotten through the intro and Chapter 1, but trust me. It is an interesting read and is not written in Fedspeak.

Reyna Elena has also posted clips of the 60 Minutes Interview.

Here are some excerpts:

"All people appear motivated by an inbred striving for self-esteem that is in large part fostered by the approval of others. that striving determines much of what households spend their money on..."

"In the face of the increasing integration of the global economy, the world's citizens face a profound choice: to embrace the worldwide benefits of open markets and open societies that pull people out of poverty and up the ladder of skills to better, more meaningful lives, while bearing in mind fundamental issues of justice; or to reject that opportunity and embrace nativism, tribalism, populism, indeed all of the "isms" into which communities retreat when their identities are under siege and they cannot perceive better options."


My friends, we face a bold new world.

5 comments:

reynz said...

yeap tough choices in a tough world, exactly one of the reasons why we ended up working where we are right now and i still remember how manila was anti-libelization at that time - i believe in the 80's or something.

*still in the reading mode of the book*

:-)

Bryan Anthony the First said...

naku
macroeconomics
wala ako tuloy masabi
musta?

JOSH said...

i think in ds brave new world of free trade, the phils is in d losing end... :(

John Halcyon von Rothschild said...

reynz- i'm still reading it too. i now have newfound respect for Gerry Ford

bryan- am ok. **blushes**

josh- i don't think the Philippines is precisely on the losing end. there is an emerging middle class and the GDP has steadily increased over the years. the problem isn't about the new economy. it's the corruption of elected officials.

JOSH said...

hmmnnnnn...perhaps ur ryt john, d phils seem to top d list of the most corrupt in d world! But d people keep on voting for them! hmp! Its just so sorry to see some local industries dying, if im not mistaken like in clothing, where its cheaper to import than to produce. pati rice yata iimportin na daw! wawa namam farmers :-(