George Soros talks globalization

International financier George Soros made a rare public address yesterday when he shared his views on the Bush Administration's foreign policies in the wake of Sept. 11.

Soros -- the president and chairman of international investment firm Soros Fund Management, LLC -- spoke to a sold-out crowd in the Zellerbach Theater in Annenberg yesterday afternoon as the keynote speaker in the School of Arts and Sciences' 2002 Granoff Forum on International Development and the Global Economy.

Soros spoke about the Bush administration's economic and foreign policies, as well as his newly published book, George Soros on Globalization.

"I argue that the United States is the dominant power in the world today, and therefore, it ought to take the lead in improving the system in which we live," Soros said. "It is the only country that can do so."

However, while Soros endorses increasing international aid, he does not approve of the method in which Bush has brought about this transition.

"I find the foreign policy of the Bush administration exceedingly dangerous. Although the terrorist threat is real and we must defend against it, we are going about it the wrong way," Soros claimed. "What makes the situation so dangerous is that nobody dares to say so."

Particularly after the attacks of Sept. 11, Soros is even more adamant that the U.S. government is reacting in a manner which will not effectively overcome the terrorist situation.

"The terrorist attacks of Sept. 11 have made us feel endangered," he said. "As a result, we are acting like a nation that is fighting for its survival and not like the leader of the globalist capitalist system that has a responsibility for making the system work better."

"We are still in pursuit of dominance instead of living up to the responsibilities that dominance imposes," Soros added.

School of Arts and Sciences Dean Samuel Preston, the event's moderator, introduced the forum with a letter of goodwill from former President Bill Clinton.

Clinton was the inaugural speaker of the Granoff Forum when the annual event began in 2000.

Soros was joined by Michael Granoff, a 1980 College graduate and the founder of the forum series, as well as two Penn professors.

Antonio Merlo, an associate professor of Economics and the director of the Penn Institute for Economic Research, and Richard Herring, the Jacob Safra Professor of International Banking at the Wharton School, posed questions of Soros in order to promote debate and discussion.

The discussion was followed by a student question-and-answer period.

The event sold out rapidly and many students were unable to obtain tickets to the lecture, although coordinators willingly generated a waiting list outside the theater.

College senior Kyle Rhoades, who was able to attend the event, spoke highly of Soros' comments and the panel itself.

"I thought it was very intelligent, very insightful. The questions that were asked by the panel and the students were thought-provoking," Rhoades said.

"It's amazing to think how much force can be used for good, especially by just one person," Rhoades added, referring to Soros.

Soros also emphasized the responsibility of the individual in society.

"We are all part of a system [in which it is] very difficult to [affect] change. We need to pay attention to the interests of others in the world."

"I support [that which advances] my self-interests and those of my investors. Then, what I do with my money is my choice," Soros said.

College junior Jack Walker was particularly interested in Soros' opinions regarding the moral quandary of financier-philanthropists.

"I like the idea that he could leverage the financial markets to provide a more philanthropic environment," Walker said. "He's done something more [than make money]. It's very noble, and that kind of solves my own concerns."

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