Key Word "wiredbrain" HotBot has most of the 365 synergy Documents

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Opening address:
George Gilder, President, Gilder Technology Group, Inc.; Contributor, FORBES
ASAP

9:00 pm - 9:30 pm
Special address:
Steve Forbes, President & CEO, Forbes Inc., Editor-in-Chief, FORBES Magazine

http://www.forbes.com/telecosm/

The four principles:

1.) The rule of law
2.) Sound currency
3.) Reasonable regulations and technical standards
4.) Rational taxes

The Information Economy:

1.) Rapid decline in the cost of hardware and communications
2.) Rapid increase in usage
3.) Increased speed of applications of new technical standards and symbols of integrity
4.) Rapid change in organizations

How do these tie together ?

1.) International law for global commerce
2.) Global currencies and banking - credit systems
3.) Global communications standards
4.) International standards for taxes, business regulation

The "new world order" requires systems of international regulation of global commerce. A rule of law for communications - rapid systems for deployment of new technologies and reasonable conditions for enterprise.

1.) Rule of Law

In the modern world the rule of law - require the consent of the governed. The priest king with traditional authority can not function in a skeptical, secular climate required by modern banking, business, science and engineering. Autocratic governments create a phony order that always becomes corrupt and dysfunctional. The rule of law requires cultural development beyond the family or village level such as still exists in Africa and Haiti, Civil society needs education, literacy, a middle class and a banking system - in other words the changes from a feudal medieval war lord society such as Russia, Saudi Arabia to that of Israel or Turkey.

The problem of gaining the consent of the governed is that the tradition is to spread benefits to voters without paying for them. This makes democracy inflationary that requires checks and balances including international supervision by markets and world financial institutions such as those that now exist in the European Community. The ECU ( European Currency Unit) is a model of an IMF currency unit that could stabilize and mobilize international trade and markets and a "real" world central bank. The IMF reserve drawing rights are money based on a basket of currencies and international reserves but with insufficient independence and competence to prevent IMF policies for cures being worse than the ailment.

2.) Stable currencies

A function of the rule of law is a real government, civil service, budget, currency and central banking. Without stability and order there can be no confidence in "paper" money. The sickness of the Kuomintang ( Nationalist China ) was displayed by suitcases of paper money. The Russians follow suit. International support should be limited by real numbers and real bankers to prevent currencies from getting way out of line of their real market values.

3.) Reasonable regulations and technical standards

Setting standards for packet exchange systems on complex networks should be a primary function of international organizations, telecommunications unions, and development funds.

The Marshall plan for Europe in 1948 to 1950 produced the most rapid and solid recovery in history in Europe - except in Great Britain. The plan provided stable currency credits for international payments and capital expansion. French farmers could get credit to buy French tractors ( or Renault cars with the help of Ford ) from French rebuilt Factories which could also get expansion credits in Franks backed by US Aid dollars.

The dollars ended up paying for the cost of American goods - which was a great boom for the American Economy. American Farms and Factories ended up with most of the hard cash from foreign aid. It is not clear that such a program really costs anything ( the expansion of the economy made everyone richer and no one poorer, so that the Tax money spent was repaid by higher domestic incomes ) and may well be a classic win/win situation.

The local currency repayment funds ( such as now exist in the food for peace program ) became a reserve and development fund to pay for roads and public works. A Marshall Plan for Eastern Europe, Russia and the USS-was would put American Business and economic professionals in Moscow, to approve a Russia plan that would allow consumers and investors to buy and invest in productive capacity using Rubble credits. Their repayments would be under the control of the Aid Agency and act as a reserve to prevent inflation. The Marshall plan was about 15 billion which is about 150 billion in today's dollars. The clear requirement is that the money be used by real business not politicians, priests, paupers or pirates.

4.) Taxes - Since civil society has high social and infrastructure costs, taxes are a cost of doing business. Competitive advantage can be based in the short run on cutting costs, not providing national education, health and welfare - fast trains, boats, planes and cars - fiber optic networks, great universities and research facilities but cheap is as cheap does. High cost facilities must product high quality specialized goods and services for global markets. Low cost facilities can only produce low cost commodities with low cost labor and low marginal returns.

The Los Angeles Times August 9, 1998

IMF, World Bank: Dispensing Loans at a Price

Critics say 'Bretton Woods' institutions have outstripped post WWII-mandate, providing bailouts
that may undermine the countries they seek to help

The International Monetary Fund (IMF or Fund) and the International Bank for Reconstruction and Development (IBRD or World Bank) were both established at the United Nations Monetary and Financial Conference, held at Bretton Woods, New Hampshire, on July 1-22, 1944. The two were created to oversee stability in international monetary affairs and to facilitate the expansion of world trade. Membership in the World Bank requires membership in the IMF, and they are both specialized agencies of the United Nations. The World Bank was given domain over long-term financing for nations in need, while the IMF's mission was to monitor exchange rates, provide short-term financing for balance of payments adjustments, provide a forum for discussion about international monetary concerns, and give technical assistance to member countries. These functions are still generally true of both organizations, although the policies determining how they are carried out have been modified and amplified over time.

The Fund's legal authority is based on an international treaty called the Articles of Agreement (Articles or the Agreement) which came into force in December 1945. The first Article in the Agreement outlines the purposes of the Fund and, although the Articles have been amended three times in the course of the last 47 years prior to 1998, the first Article has never been altered.

http://www.cftech.com/BrainBank/FINANCE/IMFHistory.html

There needs to be a new expansion and agreement including standards of Free Trade The WTO is the only international body dealing with the rules of trade between nations. At its heart are the WTO agreements, the legal ground-rules for international commerce and for trade policy. The agreements have three main objectives: to help trade flow as freely as possible, to achieve further liberalization gradually through negotiation, and to set up an impartial means of settling disputes.

http://www.wto.org/

It's vital to understand that DTV is not just movie-quality pictures and CD-quality sound. To begin with, more than a million bits per second out of the aggregate DTV bit stream will be reserved for non-TV applications such as data delivery."

Peter Coffee, http://www.zdnet.com/pcweek/opinion/0727/29cuff.html , commenting on DTV which will arrive in the U.S. this November.

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