|
|
ONLINE FEATURES
Book Reviews
BW Video
Columnists
Interactive Gallery
Newsletters
Past Covers
Philanthropy
Podcasts
Special Reports
BLOGS
Auto Beat
Bangalore Tigers
Blogspotting
Brand New Day
Byte of the Apple
Economics Unbound
Eye on Asia
Fine On Media
Green Biz
Hot Property
Investing Insights
Management IQ
NEXT: Innovation
NussbaumOnDesign
Tech Beat
Working Parents
TECHNOLOGY
J.D. Power Ratings
Product Reviews
Tech Stats
Wildstrom: Tech Maven
AUTOS
Home Page
Auto Reviews
Classic Cars
Car Care & Safety
Hybrids
INNOVATION
& DESIGN Home Page Architecture Brand Equity Auto Design Game Room SMALLBIZ Smart Answers Success Stories Today's Tip INVESTING Investing: Europe Annual Reports BW 50 S&P Picks & Pans Stock Screeners Free S&P Stock Report SCOREBOARDS Hot Growth 100 Mutual Funds Info Tech 100 S&P 500 B-SCHOOLS Undergrad Programs MBA Blogs MBA Profiles MBA Rankings Who's Hiring Grads | |
MAY 24, 2004
America: A Favorite Scapegoat For Mediocre French Politicians It is unfortunately true, as John Rossant writes in "An alliance in ruins," (Books, May 3) that anti-Americanism exists as much on the nationalist French Right as on the Left. It is, however, also true that anti-Americanism is part of an ideology that creates scapegoats that are used by mediocre politicians (and journalists) to have French citizens support them. This creates a total confusion in the mind of the ordinary French. Unfortunately for us, the French, our country is run by followers (politicians as well as journalists) who are interested in one thing: keeping their power and their positions. And foreign policy is not the only thing that is not managed correctly. Just look at the trend of France's gross domestic product per head during the last 20 years. French politicians will still need scapegoats and anti-Americanism to try to win the next elections. Robert Chabance Paris Has Brazil's Lula Missed His Chance? The answer to your question "Is Lula's honeymoon winding down?" (International Outlook, Apr. 26) is a resounding yes. Since the Brazilian President took office in January, 2003, his government has enjoyed the best global conditions to fulfill some of the promises of the Workers' Party campaign. U.S. interest rates have been low, and the import-export balance has been highly favorable to Brazil. Yet in this period of time the Brazilian government has performed poorly and has been unable to develop the economy and create jobs. One culprit is the high domestic interest rate, but this is just part of the truth. The other part is that the federal government is completely lost in bureaucracies, commissions, and unending discussions of problems. Most of Brazil's people feel betrayed, and some are calling the Workers' Party (Partido dos Trabalhadores -- or PT) the Party of Traitors. Soon the U.S. government is going to raise interest rates. Then things will get worse in Brazil. José Thomaz Gama da Silva Belo Horizonte, Brazil   What Big Pharma Could Learn From The Pipsqueaks Re "Making pills the smart way" (Industries, May 3): Of the couple of thousand products that make up a pharmacy, the majority cost under $10 million each in direct manufacturing costs. Your article ignores the emerging Small Pharma companies (NASDAQ biotechs), which outsource all of their manufacturing needs to independent producers, usually in Europe. These lean, flexible, and focused manufacturers make money because they produce batches right -- first time, every time. Their compliance record meets and usually exceeds that of Big Pharma, and their plants are anything but antiquated. They are customer-focused and sell knowhow, speed, and peace of mind. They are usually early adopters of the new technologies your article describes -- technologies that will further raise the barriers to entry into this highly fragmented and specialized business. Guy Villax, CEO Hovione Loures, Portugal The Predecessors And The Legacy Of Keynes Reader L. Somasundaram is on the right path in noting that John Maynard Keynes was not the first to advocate public finance "pump-priming" in times of need ("A Keynesian idea in 17th century India," Readers Report, May 3 regarding "Capitalism's savior," The Great Innovators, Apr. 12). The temples at Memphis in ancient Egypt, plus the nearby pyramid at Saccara (predating the Great Pyramids in Giza), circa 2,700 B.C., were built -- not as many think -- by slave labor but for the most part by paid workers and craftsmen in what appears to have been a grandiose socioeconomic scheme organized by the pharaohs of the time. They simply commanded the projects into existence. The builders were supported by an intense logistics network and agriculture to sustain the construction efforts, along with a military/security system to watch over it all. The result was a self-sustaining economy -- the first "universal employment" strategy, which helped Egypt grow to become the world leader it was at the time. Gary Turner Munich While it is certain that Keynes had a major impact on world economies of the 20th century, his theories are far from fully tested for the long run ("Capitalism's saviour," The Great Innovators, Apr. 12). Keynes has not only shown the way for governments to smooth out recessions but he has also led governments -- and many economists -- to believe that fiscal deficits do not matter. In the near future we will test this thesis when the level of public debt around the world will exponentially increase as future budget obligations become much larger than future revenues. Lukas Nejezchleb Prague
| | |
 Copyright 2004, by The McGraw-Hill Companies Inc. All rights reserved.Terms of Use | Privacy Notice |
Printer-Friendly Version
