Vice-President, US Equities
TAL Institutional Management
mistakenly suppose was his point of emphasis. Rather than saying the United States
of America has triumphed at the beginning of the Third Millennium, I would say that
it is modern civilization that has triumphed.
civilization has been most fully realized and it would be a mistake to suppose the
U.S.A. is just another triumphant empire, like Egypt, Persia, Rome or China.
in "Peace In The World" I wrote:
Property there can be no Justice or Liberty, let alone prosperity or peace. The Law
is actually pretty simple: If you take something that doesn't belong to you, you
have to give it back. That principle alone sets us apart from the beasts. Since
people tend to fight over property and religion, the principal program of the 20th
century was to abolish both. History records the result."
places where people (all of them) can pursue happiness. Such societies prosper
because they more fully employ the gifts each person possesses. And in such a
place, each person is more able to more fully develop his or her own gifts.
Sunday on ABC that "'capitalism' (he still uses that word, for some reason) doesn't
spring up like crabgrass. It is the result of an intricate network of laws.
Capitalism is, in fact, a government program."Well, that's right and places where
crime is endemic and institutionalized pay a price. "Crime does not pay."
"Pinnacle" that when he came to the Bank he was told not to talk about the 'C' word.
"What is the 'C' word?" he asked. "Corruption."So, Wolfensohn redefined
corruption as an economic problem, whereas it had been considered a political
problem, and now corruption is the first thing they talk about!
probably not. I suspect that the future will resemble the history of the United
States itself:Once New York City was far and away the only important American
city. Now it is not. New York City has rivals: Los Angeles, Chicago, Houston,
Boston, Atlanta... New York City is still important, but it's not the only one.