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January 17, 2009


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Kimball Corson

My observation and sense is that global capitalism has an overwhelming tendency to want to operate uniformly across national boarders and strongly acts therefore to corrupt local and sometimes national third world governments in order to accomplish that goal. I have seen much of that in Central and Latin America. The instances are myriad.

The mechanism of global capitalism (large US corporations, world lending institutions controlled by the US and independent agents of the CIA and NSA) operate to corrupt and if that fails to overthrow governments or alternatively to assassinate their leaders (e.g, Ecuador, Venezuela, Nicaragua, Panama and others). This thread assumes and orderly, law abiding process that does not exist outside of the developed nations and is therefore very naïve. What exists elsewhere is a form of 21st century imperialism operating under the guise of global capitalism.


The naiveté of international law programs and also of American economics departments regarding how politicians, markets and institutions actually operate is in growing contrast to the savvy of America’s top business schools which are stepping to the fore-front and, to a substantial degree, are displacing those departmental counterparts. Examples here are the Chicago Booth Business School and the Stern Business School at NYU. The faculties of both have much had more to say that is useful about the macro state of the US economy and where it is headed relative to the economics departments of those two universities. And that it is not to say that those business schools -- to stay with those examples -- lack theoretically training in economics. They do not. They combine market and institutional savvy with excellent theoretical training in economics. For that reason, they are in the ascendancy as many economics departments and international law programs fade by comparison.

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