16 January 2008

We have a special treat for all those interested in a triple-e topic: ethics, the environment and economics, which may at first glance appear to be an odd troika.

This package comes in the form of our friend and Wednesday-Nighter, Professor Peter G. Brown, author of THE COMMONWEALTH OF LIFE Economics For a Flourishing Earth, which has been described as “A pioneering work in ethics and economics for the new global era raising all the hard questions…and proposing a radically new way of thinking about how the global community should function”. Peter’s style has been described as ‘robust’ and his theses ‘controversial and challenging’. “Particularly critical of the growth model of mainstream economics … and the ‘morality of states’ approach to international relations, … he develops a theory of stewardship economics which takes proper account of the ‘commonwealth of life,’ and a theory of trusteeship and transparent sovereignty in which the role of governments is to protect the basic rights of all, including those falling outside their respective political communities. more Peter G

In an unusual Wednesday Night scenario, Peter will be interviewed by writer Alex Shoumatoff about this political and economic model for a new world order that would put the stewardship of our planet first. Questions from the Audience will be encouraged by Wednesday Night’s own Charles Gibson aka David Nicholson

It seems to us that both the format and the topic are timely in light of political and geopolitical events in the U.S. and elsewhere.

And we shall not neglect events elsewhere.

The U.S. presidential primaries continue to fascinate (we read that Europeans are watching with interest and we know that the British media are following avidly); and the more unpredictable, the more we shall watch and attempt to record the better informed (or more outrageous) commentaries - “U.S. primaries 2008“. U.S. Race 2008

While few of us are hazarding guesses as to outcomes, one early Wednesday Night punter hypothesizes: “If McCain can derail Huckabee in N.H.and Obama continues to win, McCain (fatherly, presidential looking) might take it. If it turns out to be Clinton vs. McCain after all, I would bet on Clinton. My most likely scenario is still Obama vs. Huckabee.”

We welcome counter offers and meanwhile will at least have the results of the partial Michigan poll to dissect this week.( Michigan has been hard-hit by the country’s economic woes and at 14%, Detroit’s unemployment exceeds the national average, with at least a third of local people living below the poverty line.)

Does anyone else find that President Bush’s trip to the Middle East is being highly under-reported? The wire services tell us that he made a keynote speech in Abu Dhabi on Sunday, warning Gulf Arab allies of the threat from Iran and calling for their support of Washington’s policy goals in the Middle East. We note that he referred to Iran as the world’s leading state sponsor of terrorism, then flew off to see his friends in Saudi.

The situation (or at least the leaders) in Kenya continue(s) to defy quick solutions. And on top of other problems, the World Bank seems to be implicated in having contributed to the instability. The African Union president having failed to get anything accomplished, has called on Kofi Annan to intercede. We are following the situation closely and welcome additional information or analyses. more Kenya

Pakistan is menacingly quiet, despite Musharraf’s refusal of a UN probe into the death of Benazir Bhutto.

And what of this week’s talks between Indian PM Manmohan Singh and Chinese Premier Wen Jiabao - as ties increase on issues like energy security and climate change, and trade is growing [although India is unhappy that the balance is increasingly skewed in China’s favour, and China complains of barriers to direct investment], it seems unlikely that there will be any resolution to the border dispute over Indian lands China claims belong to Tibet.

The outlook for the U.S. economy looks worse and worse. Poor Ben Benanke saying “The outlook for real activity in 2008 has worsened,” has presented a bleak picture of a deteriorating national economy, suggesting that the Fed would cut interest rates soon, perhaps by a large amount. If Alan Greenspan were still Chairman, we wouldn’t have understood his announcement and therefore might not feel so uneasy.

Meanwhile, Bloomberg suggests that “China is starting to gain control of its turbocharged economy, just as a U.S. slowdown raises the risks of doing so.

A narrowing trade surplus and declining money-supply growth are among the first signs that the world’s fourth-largest economy is pulling back from its fastest expansion in 13 years. The government has raised interest rates six times in a year, restricted credit, frozen some prices and let the currency appreciate to damp growth and inflation.

The risk is that, with months of effort to cool off China finally taking hold when the U.S. is already flirting with recession, both main engines driving the global economy may power down at the same time.”

India and China bring us to last week’s hot topic (will be posted shortly) of emerging markets , which we will likely revisit this week and many more times.

The rest of the world does seem more exciting than Canada , which in many respects makes us very fortunate. The only national topics we can suggest are the proposed Mulroney-Schreiber inquiry and the not-very-productive gathering of the premiers at 24 Sussex last Friday. RCI reports that “the premiers of Ontario and Quebec said they got nowhere with Mr. Harper on proposals to help struggling manufacturers. Ontario’s Dalton McGuinty said Mr. Harper was cold to ideas for employment insurance reform and targeted business investment. In a statement following the meeting, Mr. Harper touted his $1-billion job retraining program announced Thursday, but offered no new ideas for propping up the economy as the country faces a potential downturn.”

We should, however, be paying attention to the rumored sale of AECL and the announced sale of MacDonald, Dettwiler and Associates Ltd.’s satellite and space businesses.

There is indeed much to think about, especially if we do so in the light of ethics, environment and the economy!