Business
-

John Micklethwait is the Editor-in-Chief of The Economist. After studying history at Magdalen College, Oxford, he worked as a banker at Chase Manhattan between 1985 and 1987 before joining The Economist as a finance correspondent in 1987. Since then his roles at The Economist have included setting up the bureau in Los Angeles, where he worked from 1990‑93; being the newspaper's media correspondent; editing the business section; running the New York bureau; and editing the United States section. The Economist now has a circulation of around 1.4 million worldwide.

Mr. Micklethwait has appeared on radio and television around the world. He has co-authored with Adrian Wooldridge, also an Economist journalist, five books: The Witch Doctors; "A Future Perfect: the Challenge and Hidden Promise of Globalisation; The Company: A Short History of a Revolutionary Idea; The Right Nation: Conservative Power in America and God is Back: How the Global Rise of Faith is Changing the World, published by the Penguin Press in April 2009.

Mr. Micklethwait was named Editors' Editor of the Year at the British Society of Magazine Editors 2010 annual awards.

Bechtel Conference Center

John Micklethwait Editor, The Economist Speaker
Lectures
-

Ethical consumerism has been around for a long time—during the revolution, many Americans protested against the Stamp Act of 1756 by refusing to buy tea and other Brit- ish goods. In recent years, ethical consumerism has become an increasingly prominent feature of social life, as new forms of technology have allowed consumers to use their choices in the marketplace to address various environmental, labor and trade concerns.

Surprisingly, relatively little attention has been paid to the moral issues raised by ethical consumerism. Suppose that consumers are morally permitted to use their buying power to pressure companies to treat animals better or to reduce carbon emissions. Does this mean that they can also pressure pharmacies not to stock the “morning after” pill? Can they pressure Wal-Mart not to sell books or music that they find offensive? Even in cases where consumers are pressuring companies to do the right thing, do their actions amount to a kind of vigilante justice?

Waheed Hussain is an assistant professor in the Department of Legal Studies and Business Ethics at the University of Pennsylvania's Wharton School of Business. He has a Ph.D. in Philosophy from Harvard University and an A.B. in Philosophy from Princeton University. His main research interests lie in moral and political philosophy, particularly in those areas that bear on the morality of economic life.

One of his major research projects focuses on the philosophical debate about how best to understand the political concern for freedom. After formulating and defending an interpretation of this concern, he argues that the most attractive economic arrangements from the standpoint of freedom are those that extend democratic forms of decision making into economic life. An example of such an arrangement would be the codetermination system in Germany, which gives representatives of labor a significant role to play in economic decision making.

Other current projects include developing a more adequate understanding of the nature of personal autonomy and its significance in political contexts, examining the role of secondary associations in a capitalist democracy, formulating a moral contractualist account of the duties of corporations and their managers, and assessing the case for the corporation's right (and perhaps duty) to engage in civil disobedience.

At Wharton, Professor Hussain teaches Legal Studies 210, Corporate Responsibility and Ethics and Legal Studies 226, Markets, Morality and the Future of Capitalism, which is cross-listed in both the Philosophy Department at Penn and the Program in Politics, Philosophy and Economics.

Graham Stuart Lounge

Waheed Hussain Assistant Professor, The Wharton School Speaker University of Pennsylvania
Workshops
Authors
Hicham Ben Abdallah
News Type
Commentary
Date
Paragraphs

On Sunday February 20, Morocco experienced its first encounter with the wave of democratic change that has been sweeping across the Arab world. In each of several major cities, tens of thousands of Moroccans demonstrated for the same kinds of demands that we have seen elsewhere: to replace arbitrary and absolute uses of power with real, open democracy, to end the corruption and clientalism that stifles economic life, and to assert the rights of citizens to be treated with dignity and respect and to have a decent life for themselves and their families. Like these other demonstrations, those in Morocco also give us a glimpse of a new kind of movement -- one that brings together disaffected youth, impoverished working people, Islamists, traditional political dissidents, human rights groups, and others, in a kind of "leaderless" movement without a fixed ideological agenda. Unlike some other movements, the Moroccan demonstrations were predominately oriented toward reform, not overthrow; they did not attack the person of the King or the institution of the monarchy, and - what is most likely to keep them on that path - they were not met with brutal repression.

It would be possible for the regime to ignore what this means - there, after all, is no occupation of a central square to contend with. It would be better, however, for everyone to heed what it means - there is, clearly, a widespread, persistent discontent, affecting a broad swath of the populace. We have only seen the beginning of a process through which that discontent will manifest itself and find its political expression. How things develop from here is not known or predictable, and will depend on how the different forces react and interact going forward, but, in the present context, it is unlikely that expressions of that discontent will simply disappear. 

The welcome lack of bloody conflict has produced a curious uncertainty on both sides, a kind of double-double-bind situation that seems good for everyone: for the movement, the lack of fierce confrontation and overly radical demands helps legitimize the protest, and may make more people comfortable with and in it; but it may also be perceived as a sign of weakness. For the regime, the avoidance of brutal repression redounds to its credit, but it may also embolden the movement and help it grow. Neither side should underestimate the complexity of the pas de deux in which they are now engaged. For the regime, especially, to react with complacency and condescension - treating this movement as something that can either be ignored or absorbed in the usual ways, would be a very risky bet.

Much more productive, and much smarter, would be to heed the message of this movement - which, right now, is nothing else than to recapture the spirit of the new reign of Mohammed VI that the country had twelve years ago, to restart a hopeful process that so many feel has been rudely interrupted and replaced with disappointing new versions of business-as-usual. We started with the Justice and Reconciliation Authority (IER) and a promise of a new era of justice and accountability, and have arrived instead, post-16 May, with new waves of mass arrests, anti-"Islamist" fear-mongering, torture, and rendition [sous-traitance]. We started with a new era of freedom of the press, and have arrived at a state of censorship and legal harassment that has closed much of the independent press, and silenced or driven into exile many of its strongest voices. We began with a promise of economic transparency, and have ended in a state of economic predation, conducted by lobbies and vested interests in the name of the monarchy. We began with alternance, welcoming opposition parties and political dissidents into a new era of open democracy, and have passed through technocratic fixes to arrive at a return to "political normalcy," only to be undermined by ad-hoc commissions. The latest "new" political stratagem is a frankly royalist party, which may accrue more power to the monarchy in the short term, but, by bringing it further down into the arena of day-to-day political infighting, undermines the legitimacy it was recently accorded by all actors.

In short, many feel that the hopes and promises - the very spirit -- of the new reign have been abandoned. This is because they were not subject to a participatory process of constitutionalization and institutionalization, which is the only way that would have become permanent and irreversible. They were instead, once again, left discretionary. The monarchy has not submitted to a new, viable contract with the people. What the movement of February 20 is telling us is that these hopes and promises -- these rights -- can't be discretionary anymore. We have to return to them, and quickly begin a process that people can see is making them fixed and irrevocable. We have, that is, to revive and recast the spirit of the new reign with new urgency -- because there are new actors on the political stage who won't go away. Our nation has been put on notice: Change must and will come, and it will not be top-down anymore.  The commander [commandant de bord] now has a co-pilot, the Moroccan people, who will not fall asleep at the wheel.

All News button
1
Authors
News Type
Q&As
Date
Paragraphs
U.S. Ambassador to the Republic of Korea (ROK) Kathleen Stephens presented the talk "U.S.-Korea Relations: Where We've Been, Where We're Going" on March 2 at the Walter H. Shorenstein Asia-Pacific Research Center. In a post-event interview with Yonhap News, Ambassador Stephens discussed key points in the U.S.-ROK relationship, and spoke to her experience as an ambassador and as a Peace Corps volunteer in the ROK.

Q. While the ROK-EU Free Trade Agreement (FTA) will come into force on July 1, the ROK-U.S. FTA is still awaiting approval from the U.S. Congress. Could you tell us about the prospects for Congressional approval of the deal?

"It was such a significant issue that even President Barack Obama mentioned the trade deal during his State of the Union address in January, and he also called on Congress to ratify it ‘as soon as possible.' Therefore, you will likely see in the coming weeks the submission of the legislation to Congress, and I expect that it will pass through both the House and the Senate after a robust discussion of it. I think that with the Administration and many stakeholders in the United States from business to workers to individual states and communities saying how important this is for the American economy and for Korea-U.S. relations, I'm very optimistic about the ratification process."

Q. The Six-Party Talks aimed at resolving the North Korean nuclear issue have been at a stalemate for more than two years. Some officials, such as Senate Foreign Relations Committee Chairman John Kerry, argue that the United States should have bilateral dialogue with the North to smooth the way for the resumption of the [Six-Party] Talks. What do you think we need now to resume the stalled Six-Party Talks?

"U.S. Assistant Secretary of State for East Asian and Pacific Affairs Kurt Campbell and U.S. Special Representative for North Korea Policy Stephen Bosworth already mentioned this issue in details at a Senate Foreign Relations Committee hearing on the North Korean issue yesterday (March 1). We all agree that it is very important to improve inter-Korean relations, and we also understand that when we verify that the North truly wants to see a tangible improvement in its relations with the ROK, we should be ready to accept bilateral and multilateral dialogue."

Q. Regarding Mr. Bosworth's mention about food aid to the North, some observers speculate that there will be some change in the stalled U.S.-North Korea relations.

"(Shaking her head) The U.S. approach on the provision of humanitarian assistance including food assistance internationally has always been a principled one based upon an assessment of the need and the ability to monitor in an appropriate way to ensure the assistance gets to those who are most needy. We are applying those same principles to any consideration of humanitarian assistance to North Korea, and therefore, he [Amb. Bosworth] did not indicate any particular change."

Q. The "Jasmine Revolution" is sweeping the Middle East. Considering the lack of social networking services and a different type of regime in North Korea, it may be difficult to draw a direct comparison [between the Middle East and North Korea,] but do you think that the pro-democracy movements in the Middle East could affect North Korea?

"To be honest with you, I do not know. It is difficult to speculate on it because North Korea is certainly one of the most isolated places in the world when it comes to the availability of news about the outside world."

Q. While the ROK-EU Free Trade Agreement (FTA) will come into force on July 1, the ROK-U.S. FTA is still awaiting approval from the U.S. Congress. Could you tell us about the prospects for Congressional approval of the deal?

"It was such a significant issue that even President Barack Obama mentioned the trade deal during his State of the Union address in January, and he also called on Congress to ratify it ‘as soon as possible.' Therefore, you will likely see in the coming weeks the submission of the legislation to Congress, and I expect that it will pass through both the House and the Senate after a robust discussion of it. I think that with the Administration and many stakeholders in the United States from business to workers to individual states and communities saying how important this is for the American economy and for Korea-U.S. relations, I'm very optimistic about the ratification process."

Q. Recently, the issue of redeploying U.S. tactical nuclear weapons to the ROK in the event of a contingency on the Korean Peninsula stirred up some controversy. Some observers also point out that it is possible for the United States to assist the ROK with tactical nuclear weapons as part of its extended deterrence. If the ROK wants, is there a possibility that the United States will redeploy its tactical nuclear weapons to USFK?

"Our position is very clear on this, and we reaffirmed it at a Senate hearing yesterday (March 1). We want to see the complete denuclearization of the Korean Peninsula. That means no nuclear weapons in North Korea. There are no nuclear weapons right now in South Korea. In terms of the ROK, it's our assessment that the reintroduction of these weapons is neither desirable nor needed."

Q. President Obama, in his speeches, praised the ROK especially for its education. In the ROK, however, many people point out that the education problem is very serious. What is your take on this?

"So many Koreans talked about it. Those who are currently living in the ROK or those who have been watching the ROK's education system may know that education is such an important issue for Koreans. Personally, I am also well aware of (Koreans') education fervor as well as the stress incurred by children and families due to excessive [education-related] competition.

President Obama seems to think that every education system has some problems, and he appears to want to introduce Korea's education fervor and parents' active interest in education to the United States. In my opinion, President Obama believes that in this aspect, the ROK is a good model.

However, as everybody knows it, there is no such thing as a perfect education system. Therefore, while the United States learns education fervor from the ROK's education system, the ROK could learn a wider variety of teaching methods from the United States."

Q. Would you raise your child in a Korean-style education system?

"Since my son has already grown up, I can only give you a hypothetical answer. The biggest challenge would be language, but I can say 'Yes.' This is because I know that the ROK also has many good schools and teachers. However, when it comes to sending my child to ‘hagwon,' a private institute, I would need to discuss with Korean parents, teachers and friends."

Q.  Could you tell us about U.S.-ROK relations and public sentiments in both countries now and at the time of your assignment to the ROK? When you arrived in the ROK, U.S. beef imports were a "big issue."

"The ROK and the United States have a very friendly alliance, and they are deepening and expanding it day by day. In addition, I think that I am lucky that I have served in the ROK at a time when I can contribute to creating the best and strongest relationship in the world.

When I arrived in the ROK in September, 2008, I received a truly warm welcome from the ROK—although it is a Korean tradition. When I went out on the streets, many people, who had concerns or expectations about ROK-U.S. relations, recognized and approached me and said that they wanted to see an improvement in ROK-U.S. relations. This is a message showing that the ROK-U.S. relations are very important, and we are actually working together to maintain a good relationship. 

Even President Obama said that (the bilateral relationship) ‘has never been better than it is today.' (A fluent Korean speaker, Stephens repeated the same phrase in Korean.)"

Q. Unlike other U.S. Ambassadors to the ROK, you travel across the ROK to reach out to Koreans, even gaining the nickname "Star Ambassador." Is there any special reason?

"Thank you very much for appreciating my efforts. Whenever I am assigned to a certain nation, I think that I must understand the nation and its people because that is what a diplomat and an Ambassador is supposed to do. To me, Korea this may have been a little easier than it was for my predecessors. This is because I lived in the ROK before, I speak Korean, and I feel comfortable with Korean culture.

I visited the ROK in 1975 for the first time, and I wanted to know how much the ROK and Koreans' thought have changed ever since, and I watched actual changes with interest.   

Q.  This might be a little premature, but you are going to leave office in six months. Do you have any future plans? Are you going to continue to work to strengthen ROK-U.S. relations?

"(Laughter) This is my third time to live in the ROK. It is a great honor to serve as the U.S. Ambassador to the ROK. In my third year in office, I still have many things to do, including the ROK-U.S. FTA, but after leaving office, I hope to continue to make contributions to this great (U.S.-Korea) relationship for the rest of my life. In fact, I do not know what to do after leaving office, but I will always carry a huge interest in and commitment to this relationship."

Q. This year marks the 50th anniversary of the foundation of the Peace Corps. You actually worked as a Peace Corps volunteer in the ROK. What does the Peace Corps mean for you? How did your service in the ROK affect you today?

"Thank you for asking that question. The Peace Corps is still engaging in various activities around the world, and I think that it is the best program ever from the United States Government. I can say that this program has inspired the United States and people around the world throughout many generations.

It is true that while serving in the ROK as a Peace Corps member, I underwent a series of difficulties which I had never experienced before. It was not easy for a young woman to adapt to living and working in a nation which she hardly knew.

At that time, I needed to completely assimilate into a Korean organization. I serve in many countries as a diplomat, but it is about working at a U.S. Embassy, a U.S. institution.  Therefore, it is difficult to compare it with Peace Corps activities. I think that at that time, I had experience which was totally new mentally, physically, and emotionally. However, any Peace Corps member has such experience.

[Through such experience,] I witnessed the strength and various talents of Koreans in person, and that has had an enormous impact on my life.  

Translation by Yonhap News. Republished with permission.

Hero Image
WebNewsfeed
U.S. Ambassador to the ROK Kathleen Stephens, speaking at Shorenstein APARC on March 3, 2011.
George Krompacky
All News button
1
News Type
News
Date
Paragraphs

On February 23, John Roos, U.S. Ambassador to Japan, Robert Hormats, U.S. Under Secretary of State, and Norihiko Ishiguro, Director-General of Japan's Ministry of Economy, Trade, and Industry, will join the Walter H. Shorenstein Asia-Pacific Research Center's Michael H. Armacost, William F. Miller, and Robert Eberhart, as well as prominent Japanese and American business leaders, academic experts, and government officials, will meet at Stanford for a roundtable dialogue on entrepreneurship and innovation in Japan. Larry Sonsini, Chairman of Wilson, Sonsini, Goodrich, and Rosati, will give the keynote address.

After the first Dialogue on Japanese Entrepreneurship held in February 2010, representatives from the U.S. and Japanese governments met in Tokyo on May 27, 2010, to consider ways to foster an environment that would promote new businesses and job creation. Utilizing data from the Stanford Project on Japanese Entrepreneurship (STAJE) and the American Chamber of Commerce of Japan, business representatives shared their views with officials of both governments on policies and practices that would encourage such growth. On November 13, 2010, the White House and the Prime Minister's Office formally launched the U.S.-Japan Dialogue to Promote Innovation, Entrepreneurship, and Job Creation, elevating it to a policy-level dialogue, with SPRIE-STAJE providing academic expertise. The February 23 event aims to build on the conversation about how to foster innovation through entrepreneurship.

The event will consist of a roundtable discussion on policies and ecologies to promote entrepreneurship and job growth. Following the keynote address, a panel discussion on smart grid technologies will take place with representatives from Cisco Systems, Toshiba, GE, Panasonic, Toyota, IBM, and officials of the U.S. and Japanese governments.

This event will be held closed session to facilitate more open dialogue and will involve Stanford students and scholars, business leaders, and government officials.

Hero Image
RoosNewsfeed
U.S. Ambassador to Japan John Roos, speaking at a STAJE event in November 2010.
All News button
1
News Type
News
Date
Paragraphs

How do you effectively advise senior-level policymakers when a political crisis emerges? Stanford students taking the course U.S. Policy Towards Northeast Asia (IPS 244), sponsored by the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC), are learning and putting into practice these very skills. Over the ten weeks of the 2011 winter quarter, students will learn about contemporary U.S. policy towards Japan, China, and Korea, and about how to write and present policy-style memoranda to top-level government decision makers. They will also take part in an in-class simulation of a Six-Party meeting to negotiate North Korea's nuclear program.

Students cover a great deal of content in a short amount of time. "Ten weeks goes by pretty quickly," says course leader Michael H. Armacost, the Shorenstein Fellow at FSI and a former U.S. Ambassador to Japan and the Philippines. The real-world approach to the course is similar to what you would find in a professional international relations school, he explains. In previous years, Armacost has taught the course both alone and as part of a team with other former U.S. senior-level policy officials. The current course has been offered in the Ford Dorsey Program in International Policy Studies (IPS) for the last three years. It is co-taught with Daniel C. Sneider, the associate director for research at Shorenstein APARC and a former long-time foreign correspondent in Asia; David Straub, the associate director of the Stanford Korean Studies Program and a former U.S. senior foreign service officer; and Thomas Fingar, the Oksenberg/Rohlen Distinguished Fellow at FSI and a former Chairman of the National Intelligence Council.

In addition to providing a strong understanding of the U.S. foreign policymaking process, each week of the course is dedicated to a different aspect of the relationship of the United States with the countries of Northeast Asia, including Taiwan and the Russian Federation. Students will closely examine the history and dynamics between the great powers of the region; U.S. security relations with Japan and China; East Asian regionalism; democratization in South Korea; the North Korean nuclear crisis; and economics and human rights in China.

Although the case studies that the policy-writing exercises are based upon are hypothetical, they are closely tied to real-world issues and events. A previous year's case study dealt with tensions between China and Japan over rival claims to the Senkaku/Diaoyu Islands, anticipating the September 2010 conflict between Japan and China in the waters around these islands. The simulation exercise, another highlight of the course when students have the opportunity to collaborate with one another, is also closely tied to current regional events.

In addition to the rich content of the course and the expertise of its instructors, the diverse background of the students lends itself to the overall learning experience. Some of the students are pursuing a master's degree through IPS or the Center for East Asian Studies, while others come from the Graduate School of Business and various other Stanford units. Each year, there are always a few undergraduate students, who Armacost describes as "very strong," as well as early-career foreign affairs and military officials from Northeast Asia.

Interest in the course remains strong each year, and Shorenstein APARC will continue to offer it in order to provide solid, real-world policy training for the next generation of scholars and government officials.

Hero Image
ArmacostNewsfeed
Michael H. Armacost, course leader for IPS 244, talks to students about the history of U.S. policy towards Northeast Asia.
Sarah Lin Bhatia
All News button
1
News Type
News
Date
Paragraphs
India's western state of Gujarat is positioning itself for overseas investment, having already attracted investment pledges from major domestic entities such as the Anil Dhirubhai Ambani Group and the Tata Group. Shorenstein APARC senior research scholar Rafiq Dossani, who participated in the January 2011 Vibrant Gujarat road show, emphasizes that amidst the excitement over economic growth, the state must still deal with the legacy of the communal riots in 2002 that killed hundreds of people and has led to the ghettoization of the state’s Muslims, who represent 10% of its population.
Hero Image
GujaratPowerNewsfeed
Gujarat has attracted investment commitments for both traditional gas and coal power plants and renewable energy projects.
Dave Morris
All News button
1
Subscribe to Business