Greenspan on Seattle

Doug Henwood dhenwood at panix.com
Fri Jan 14 10:23:14 PST 2000


from Alan Greenspan's speech to the Economic Club of New York last night <http://www.bog.frb.fed.us/BoardDocs/Speeches/2000/200001132.htm>:


>The clash between unfettered competitive technological advance and
>protectionism, both domestic and international, will doubtless
>engage our attention for many years into this new century. The
>turmoil in Seattle last month may be a harbinger of an intensified
>debate.


>It is the degree of unbridled fierce competition within and among
>our economies today--not free trade or globalization as such--that
>is the source of the unease that has manifested itself, and was on
>display in Seattle a month ago. Trade and globalization are merely
>the vehicles that foster competition, whose application and benefits
>currently are nowhere more evident than here, today, in the United
>States.



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