Global Trade Damages The Global Economy Without Global Rules Which Make Possible A Global Level Playing Field
- By Professor Prabhu Guptara
- Published 01/7/2009
Professor Prabhu Guptara
Professor Prabhu Guptara is Executive Director, Organisational Development, Wolfsberg (a subsidiary of UBS - one of the largest banks in the world). He is also Freeman of the City of London and of the Worshipful Company of Information Technologists, and Chartered Fellow of the of the Chartered Institute of Personnel and Development; he is also Fellow: of the Institute of Directors, of the Royal Commonwealth Society, and of the Royal Society for the Encouragement of the Arts Commerce and Manufactures; and he continues to supervise PhD research at the University of Fribourg (Switzerland) as well as to be Visiting Professor at various Universities and Business Schools around the world.
Earlier roles include: a Governor of the Polytechnic of Central London, Member of the Council of the British Institute of Management, of the International Federation of Training & Development Organisations (IFTDO), of the Association for Management Education and Development (UK), of the South East Regional Council of the Confederation of British Industry.
Judge, 1988 National Training Awards, 1980 Commonwealth Poetry Prize, 1990 & 1991 Deo Gloria Prize for Fiction; Chair of the Panel of Judges, Deo Gloria Prize 1992 & 1993.
Experience with an enormous range of organisations including: Akzo Nobel (Netherlands), the Associated Banks Institute (Germany), Barclays Bank (UK), British Petroleum (UK), the Council of Europe, Cultor (Finland), Deutsche Bank (Germany), Groupe Bull (France), Federation of Finnish Engineers (Finland), the International Management Association of Japan, Kemira (Finland), Kraft Jakob Suchard (Switzerland), Leadership Academy (Finland), Nokia Telecommunications (Finland), Novo Nordisk (Denmark), Sedgwick International Insurance and Reinsurance Brokers (UK), Singapore Institute of Management, Sonatrach (Algeria), Sun Alliance (UK), UNCTAD, Valeo (France), and so on.
Organiser, chair and lecturer by invitation for numerous international conferences, he has contributed widely to radio and television in the UK and other countries (The Money Program, Any Questions) and has written for Financial Times (London, UK), The Guardian, The Times and other publications; articles, for example, in The Gower Handbook of Management, The Gower Handbook of Quality, and the International Encyclopedia of Business & Management (Routledge).
A CD-ROM has been issued of his lecture at the Professorenforum, University of Zurich, titled "Making the World Better - Why it does NOT happen...and what TO DO about it"
Further information available from firstname.lastname@example.org
His best-known research publication is "Top Executives in the Global 100 Companies and their IT-Competence" (ADVANCE: Management Training Ltd., UK, and Wolfsberg Executive Development Centre, Switzerland, 1998); and he is included in Debrett's People of Today and in Who's Who in the World. Professor Prabhu Guptara lives in Switzerland.
Regarding my PBS broadcast a few days ago, a friend writes: "I like most your suggestions for new financial rules, as opposed to state interference (overt nationalisations). Have you parallel bullet points on global trade? As facing down speculation surely also requires looking at how asset classes held by the global south should not be ripped off in the future by the developed north."
My answer: Trade is always a good thing, but has been distorted by subsidies as well as by differences in regulations across the globe in relation to the environment and social justice.
So my three bullet points on trade are:
1. abolish all direct and indirect subsidies for any product or service if that is to be traded across borders (difficult to establish not only in practice but even in principle, given the complete change in the mentality of government interference which is endemic - regarding research, for example)
2. ban countries who want to be part of the WTO from currency manipulation (and that can only happen if there are clear global rules regarding how much money can be printed by governments)
3. put in place a global regime for environmental standards, heath and safety, pensions and work conditions.
At present, trade takes place primarily as a result of the improper benefits obtained by certain countries from human exploitation, environmental degradation and currency manipulation.
What we need to do is to ban human exploitation, environmental degradation and currency manipulation.
Only then will we have trade based on genuine specialisation based on human talent and resource availability - of the sort that Adam Smith theorised about.
Over the last 30 years, ideologues to the right ("market fundamentalists") have used Adam Smith either to justify human exploitation, environmental degradation and currency manipulation - or to ignore such matters.