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Theworldisgoingthroughthebiggestwaveofmergersandacquisitionseverwitnessed.TheprocesssweepsfromhyperactiveAmericatoEuropeandreachestheemergingcountrieswithunsurpassedmight.Manyinthesecountriesarelookingatthisprocessandworrying:Won’’tthewaveofbusinessconcentrationturnintoanuncontrollableanti-competitiveforce There’’snoquestionthatthebigaregettingbiggerandmorepowerful.Multinationalcorporationsaccountedforlessthan20%ofinternationaltradein1982.Todaythefigureismorethan25%andgrowingrapidly.Internationalaffiliatesaccountforafast-growingsegmentofproductionineconomiesthatopenupandwelcomeforeigninvestment.InArgentinaforinstanceafterthereformsoftheearly1990smultinationalswentfrom43%toalmost70%oftheindustrialproductionofthe200largestfirms.Thisphenomenonhascreatedseriousconcernsovertheroleofsmallereconomicfirmsofnationalbusinessmenandovertheultimatestabilityoftheworldeconomy. IbelievethatthemostimportantforcesbehindthemassiveM&Awavearethesamethatunderlietheglobalizationprocess:fallingtransportationandcommunicationcostslowertradeandinvestmentbarriersandenlargedmarketsthatrequireenlargedoperationscapableofmeetingcustomers’’demands.Allthesearebeneficialnotdetrimentaltoconsumers.Asproductivitygrowstheworld’’swealthincreases. Examplesofbenefitsorcostsofthecurrentconcentrationwavearescanty.Yetitishardtoimaginethatthemergerofafewoilfirmstodaycouldre-createthesamethreatstocompetitionthatwerefearednearlyacenturyagointheU.S.whentheStandardOiltrustwasbrokenup.ThemergersoftelecomcompaniessuchasWorldComhardlyseembringhigherpricesforconsumersorareductioninthepaceoftechnicalprogress.Onthecontrarythepriceofcommunicationsiscomingdownfast.Incarstooconcentrationisincreasing--witnessDaimlerandChryslerRemaultandNissan--butitdoesnotappearthatconsumersarebeinghurt. Yetthefactremainsthatthemergermovementmustbewatched.AfewweeksagoAlanGreenspanwarnedagainstthemegamergersinthebankingindustry.Whoisgoingtosuperviseregulateandoperateaslenderoflastresortwiththegiganticbanksthatarebeingcreated.’’Won’’tmultinationalsshiftproductionfromoneplacetoanotherwhenanationgetstoostrictaboutinfringementstofaircompetition.’’AndshouldonecountrytakeuponitselftheroleofdefendingcompetitiononissuesthataffectmanyothernationsasintheU.S.vs.Microsoftcase7 Towardthenewbusinesswavethewriter’’sattitudecanbesaidtobe______.
U.S.prisonsarefilledwithdrugoffenders;thenumberofprisonerstripledoverthepast20yearstonearly2millionwith60to70percenttestingpositiveforsubstanceabuseonarrest.Thecountryhasspentbillionsofdollarsattackingtheproblematitsroots.Butthereisgrowingconsensusthatthewarondrughasbeenlost.TheUnitedStatesisstilltheworld’’slargestconsumerofillegalsubstances;cocainecontinuestopourovertheborderfromMexico.Traffictapsintothenationalfrustrationdepictingthehorrorsofbothdrugsandthedrugwar.WithouttakingsidesthefilmilluminatesthenationaldebateandposesonalternativethatAmericansseemincreasinglywillingtoconsider:findingnewwaystotreatratherthanmerelypunishdrugabuse. Policyrevolutions―likelegalizingnarcoticsdrugsproducingsleeporinsensibility―remainadistantdream.ButthereisgrowingpublicawarenessthatthemoneyandenergywastedontryingtochecktheflowofdrugsintotheUnitedStatesmightbebetterspentontryingtocontroldemandinstead.Votersinseveralstatesarefaraheadofthepoliticiansapprovingballotinitiativesthatoffermoretreatmentopinions.Drugscourtsthatallowjudgestousecarrotsandstickstocompelsubstance-abusetreatmenthavegrownfifty-foldsincethemid-1990spartofanewunderstandingthatevenwithfrequentrelapsesreturnstoaformalstatetreatmentismuchlessexpensiveforsocietythanjailandban. Drugaddictionisincreasinglybeingviewedasmoreadiseasethanacrime.Scienceisyieldingcluesaboutthehedonicofpleasureregionofthebrainwhilebreakthroughmedicationsandgreaterunderstandingofthemental-healthproblemsthatunderliemanyaddictionsaregivingtherapistsnewtools. OfficialsacrosstheContinenthavealreadybegunshiftingtheirfocusfrompreventingdrugflowtorehabilitatingmakingabletoliveanormallifeagaindrugusers.ThenewEuropeanUnionDrugsStrategyfor2000-2004makesacommitmenttoincreasingthenumberofsuccessfullytreatedaddicts.GemanyItalyandLuxembourghavetransferredresponsibilityfordrugpolicyfromtheirMinistriesoftheInteriortotheMinistriesofHealthorSocialAffairs.InBritainthegovernmenthassetupaNationalTreatmentAgencytocoordinatetheeffortsofsocial-serviceagenciesandtheDepartmentofHealth.Anddrug-preventionandsupportagenciestherearegettingabout30percentmorefundingthisyear.Changingthemainnationalstrategyfromattackingdrugpusherstorehabilitatingaddictswon’’tcomeeasy.ButslowlysteadilyAmericanslikeEuropeansseemdeterminedtotry. Drugaddictionisbeingviewedasadiseasebecause
Theworldisgoingthroughthebiggestwaveofmergersandacquisitionseverwitnessed.TheprocesssweepsfromhyperactiveAmericatoEuropeandreachestheemergingcountrieswithunsurpassedmight.Manyinthesecountriesarelookingatthisprocessandworrying:Won’’tthewaveofbusinessconcentrationturnintoanuncontrollableanti-competitiveforce There’’snoquestionthatthebigaregettingbiggerandmorepowerful.Multinationalcorporationsaccountedforlessthan20%ofinternationaltradein1982.Todaythefigureismorethan25%andgrowingrapidly.Internationalaffiliatesaccountforafast-growingsegmentofproductionineconomiesthatopenupandwelcomeforeigninvestment.InArgentinaforinstanceafterthereformsoftheearly1990smultinationalswentfrom43%toalmost70%oftheindustrialproductionofthe200largestfirms.Thisphenomenonhascreatedseriousconcernsovertheroleofsmallereconomicfirmsofnationalbusinessmenandovertheultimatestabilityoftheworldeconomy. IbelievethatthemostimportantforcesbehindthemassiveM&Awavearethesamethatunderlietheglobalizationprocess:fallingtransportationandcommunicationcostslowertradeandinvestmentbarriersandenlargedmarketsthatrequireenlargedoperationscapableofmeetingcustomers’’demands.Allthesearebeneficialnotdetrimentaltoconsumers.Asproductivitygrowstheworld’’swealthincreases. Examplesofbenefitsorcostsofthecurrentconcentrationwavearescanty.Yetitishardtoimaginethatthemergerofafewoilfirmstodaycouldre-createthesamethreatstocompetitionthatwerefearednearlyacenturyagointheU.S.whentheStandardOiltrustwasbrokenup.ThemergersoftelecomcompaniessuchasWorldComhardlyseembringhigherpricesforconsumersorareductioninthepaceoftechnicalprogress.Onthecontrarythepriceofcommunicationsiscomingdownfast.Incarstooconcentrationisincreasing--witnessDaimlerandChryslerRemaultandNissan--butitdoesnotappearthatconsumersarebeinghurt. Yetthefactremainsthatthemergermovementmustbewatched.AfewweeksagoAlanGreenspanwarnedagainstthemegamergersinthebankingindustry.Whoisgoingtosuperviseregulateandoperateaslenderoflastresortwiththegiganticbanksthatarebeingcreated.’’Won’’tmultinationalsshiftproductionfromoneplacetoanotherwhenanationgetstoostrictaboutinfringementstofaircompetition.’’AndshouldonecountrytakeuponitselftheroleofdefendingcompetitiononissuesthataffectmanyothernationsasintheU.S.vs.Microsoftcase7 AccordingtotheauthoroneofthedrivingforcesbehindM&Awaveis______.
TwomonthsagoyougotajobasaneditorforthemagazineDesigns&Fashions.Butnowyoufindthattheworkisnotwhatyouexpected.Youdecidetoquit.WritealettertoyourbossMr.Wangtellinghimyourdecisionstatingyourreasonsandmakinganapology.Writeyourletterwithnolessthan100words.WriteitneatlyonANSWERSHEET2.Donotsignyourownnameattheendoftheletter;useLiMinginstead.Youdonotneedtowritetheaddress.10points
U.S.prisonsarefilledwithdrugoffenders;thenumberofprisonerstripledoverthepast20yearstonearly2millionwith60to70percenttestingpositiveforsubstanceabuseonarrest.Thecountryhasspentbillionsofdollarsattackingtheproblematitsroots.Butthereisgrowingconsensusthatthewarondrughasbeenlost.TheUnitedStatesisstilltheworld’’slargestconsumerofillegalsubstances;cocainecontinuestopourovertheborderfromMexico.Traffictapsintothenationalfrustrationdepictingthehorrorsofbothdrugsandthedrugwar.WithouttakingsidesthefilmilluminatesthenationaldebateandposesonalternativethatAmericansseemincreasinglywillingtoconsider:findingnewwaystotreatratherthanmerelypunishdrugabuse. Policyrevolutions―likelegalizingnarcoticsdrugsproducingsleeporinsensibility―remainadistantdream.ButthereisgrowingpublicawarenessthatthemoneyandenergywastedontryingtochecktheflowofdrugsintotheUnitedStatesmightbebetterspentontryingtocontroldemandinstead.Votersinseveralstatesarefaraheadofthepoliticiansapprovingballotinitiativesthatoffermoretreatmentopinions.Drugscourtsthatallowjudgestousecarrotsandstickstocompelsubstance-abusetreatmenthavegrownfifty-foldsincethemid-1990spartofanewunderstandingthatevenwithfrequentrelapsesreturnstoaformalstatetreatmentismuchlessexpensiveforsocietythanjailandban. Drugaddictionisincreasinglybeingviewedasmoreadiseasethanacrime.Scienceisyieldingcluesaboutthehedonicofpleasureregionofthebrainwhilebreakthroughmedicationsandgreaterunderstandingofthemental-healthproblemsthatunderliemanyaddictionsaregivingtherapistsnewtools. OfficialsacrosstheContinenthavealreadybegunshiftingtheirfocusfrompreventingdrugflowtorehabilitatingmakingabletoliveanormallifeagaindrugusers.ThenewEuropeanUnionDrugsStrategyfor2000-2004makesacommitmenttoincreasingthenumberofsuccessfullytreatedaddicts.GemanyItalyandLuxembourghavetransferredresponsibilityfordrugpolicyfromtheirMinistriesoftheInteriortotheMinistriesofHealthorSocialAffairs.InBritainthegovernmenthassetupaNationalTreatmentAgencytocoordinatetheeffortsofsocial-serviceagenciesandtheDepartmentofHealth.Anddrug-preventionandsupportagenciestherearegettingabout30percentmorefundingthisyear.Changingthemainnationalstrategyfromattackingdrugpusherstorehabilitatingaddictswon’’tcomeeasy.ButslowlysteadilyAmericanslikeEuropeansseemdeterminedtotry. AccordingtothetextU.S.prisoners
U.S.prisonsarefilledwithdrugoffenders;thenumberofprisonerstripledoverthepast20yearstonearly2millionwith60to70percenttestingpositiveforsubstanceabuseonarrest.Thecountryhasspentbillionsofdollarsattackingtheproblematitsroots.Butthereisgrowingconsensusthatthewarondrughasbeenlost.TheUnitedStatesisstilltheworld’’slargestconsumerofillegalsubstances;cocainecontinuestopourovertheborderfromMexico.Traffictapsintothenationalfrustrationdepictingthehorrorsofbothdrugsandthedrugwar.WithouttakingsidesthefilmilluminatesthenationaldebateandposesonalternativethatAmericansseemincreasinglywillingtoconsider:findingnewwaystotreatratherthanmerelypunishdrugabuse. Policyrevolutions―likelegalizingnarcoticsdrugsproducingsleeporinsensibility―remainadistantdream.ButthereisgrowingpublicawarenessthatthemoneyandenergywastedontryingtochecktheflowofdrugsintotheUnitedStatesmightbebetterspentontryingtocontroldemandinstead.Votersinseveralstatesarefaraheadofthepoliticiansapprovingballotinitiativesthatoffermoretreatmentopinions.Drugscourtsthatallowjudgestousecarrotsandstickstocompelsubstance-abusetreatmenthavegrownfifty-foldsincethemid-1990spartofanewunderstandingthatevenwithfrequentrelapsesreturnstoaformalstatetreatmentismuchlessexpensiveforsocietythanjailandban. Drugaddictionisincreasinglybeingviewedasmoreadiseasethanacrime.Scienceisyieldingcluesaboutthehedonicofpleasureregionofthebrainwhilebreakthroughmedicationsandgreaterunderstandingofthemental-healthproblemsthatunderliemanyaddictionsaregivingtherapistsnewtools. OfficialsacrosstheContinenthavealreadybegunshiftingtheirfocusfrompreventingdrugflowtorehabilitatingmakingabletoliveanormallifeagaindrugusers.ThenewEuropeanUnionDrugsStrategyfor2000-2004makesacommitmenttoincreasingthenumberofsuccessfullytreatedaddicts.GemanyItalyandLuxembourghavetransferredresponsibilityfordrugpolicyfromtheirMinistriesoftheInteriortotheMinistriesofHealthorSocialAffairs.InBritainthegovernmenthassetupaNationalTreatmentAgencytocoordinatetheeffortsofsocial-serviceagenciesandtheDepartmentofHealth.Anddrug-preventionandsupportagenciestherearegettingabout30percentmorefundingthisyear.Changingthemainnationalstrategyfromattackingdrugpusherstorehabilitatingaddictswon’’tcomeeasy.ButslowlysteadilyAmericanslikeEuropeansseemdeterminedtotry. MoreandmoreAmericansfavorallofthefollowingEXCEPT
Forthreedecadeswe’’veheardendlesslyaboutthevirtuesofaerobicincreasingoxygenconsumptionexercise.MedicalauthoritieshavepraisedrunningandjumpingasthekeytogoodhealthandmillionsofAmericanshavetakentothetreadmill踏车toreaptherewards.Butthestoryischanging.EveryonefromtheAmericanHeartAssociationtothesurgeongeneral’’sofficehasrecentlyembracedstrengthtrainingasacomplementtoaerobics.AndasweightliftinghasgonemainstreamsohastheonceobscurepracticeknownasSuperSlowtraining.Enthusiastsclaimthatbypumpingironatasnail’’space-makingeachreprepeatlast14secondsinsteadoftheusualseven-youcansafelyplaceextraordinarydemandsonyourmusclesandcallforthanextraordinaryresponse.Slowliftingmaynotbetheonlyexerciseyouneedassomeadvocatesbelievebutthebenefitsareoftendramatic. Almostanyonecanhandlethisroutine.Theonlyrequirementsarecompletefocusandatolerancefordeepmuscularburn.Foxeachexercise-legpressbenchpressshoulderpressandsoon-yousetthemachinetoprovideonlymoderateresistance.Butasyoudrawouteachrepdeprivingyourselfofimpetustheweightsoonfeelsunbearable.Defyingtheimpulsetostopyoukeepgoinguntilyoucan’’tcompletearep.Thenyousustainyourvaineffortfor10moresecondswhiletheweightsinksgraduallytowarditscradle.IntenseUncomfortableTotally.Butonceyouembracemusclefailureasthegoaloftheworkoutitcanbecomealmostpleasure. Thegoalisnottoburncalorieswhileyou’’reexercisingbuttomakeyourbodyburnthemallthetime.Runningafewmilesmanymakeyousweatbutitexpendsonly100caloriespermileanditdoesn’’tstimulatemuchboneormuscledevelopment.Strengthtrainingdoesn’’tburnmanycalorieseither.Butwhenyoupushamuscletofailureyousetoffapourofphysiologicalchanges.Asthemusclerecoversoverseveraldaysitwillthicken-andthenewmuscletissuewilldemandsustenance.Bythetimeyouaddthreepoundsofmuscleyourbodyrequiresanextra9000caloriesamonthjusttobreakeven.Holdyourdietsteadyandveryquicklyyouarevaporizingbodyfat. Onemighthavebenefitedfromanystrength-trainingprogram.Butadvocatesinsisttheslowtechniqueissaferandmoreeffectivethantraditionalmethods. AccordingtotheauthorSuperSlowtraining
Forthreedecadeswe’’veheardendlesslyaboutthevirtuesofaerobicincreasingoxygenconsumptionexercise.MedicalauthoritieshavepraisedrunningandjumpingasthekeytogoodhealthandmillionsofAmericanshavetakentothetreadmill踏车toreaptherewards.Butthestoryischanging.EveryonefromtheAmericanHeartAssociationtothesurgeongeneral’’sofficehasrecentlyembracedstrengthtrainingasacomplementtoaerobics.AndasweightliftinghasgonemainstreamsohastheonceobscurepracticeknownasSuperSlowtraining.Enthusiastsclaimthatbypumpingironatasnail’’space-makingeachreprepeatlast14secondsinsteadoftheusualseven-youcansafelyplaceextraordinarydemandsonyourmusclesandcallforthanextraordinaryresponse.Slowliftingmaynotbetheonlyexerciseyouneedassomeadvocatesbelievebutthebenefitsareoftendramatic. Almostanyonecanhandlethisroutine.Theonlyrequirementsarecompletefocusandatolerancefordeepmuscularburn.Foxeachexercise-legpressbenchpressshoulderpressandsoon-yousetthemachinetoprovideonlymoderateresistance.Butasyoudrawouteachrepdeprivingyourselfofimpetustheweightsoonfeelsunbearable.Defyingtheimpulsetostopyoukeepgoinguntilyoucan’’tcompletearep.Thenyousustainyourvaineffortfor10moresecondswhiletheweightsinksgraduallytowarditscradle.IntenseUncomfortableTotally.Butonceyouembracemusclefailureasthegoaloftheworkoutitcanbecomealmostpleasure. Thegoalisnottoburncalorieswhileyou’’reexercisingbuttomakeyourbodyburnthemallthetime.Runningafewmilesmanymakeyousweatbutitexpendsonly100caloriespermileanditdoesn’’tstimulatemuchboneormuscledevelopment.Strengthtrainingdoesn’’tburnmanycalorieseither.Butwhenyoupushamuscletofailureyousetoffapourofphysiologicalchanges.Asthemusclerecoversoverseveraldaysitwillthicken-andthenewmuscletissuewilldemandsustenance.Bythetimeyouaddthreepoundsofmuscleyourbodyrequiresanextra9000caloriesamonthjusttobreakeven.Holdyourdietsteadyandveryquicklyyouarevaporizingbodyfat. Onemighthavebenefitedfromanystrength-trainingprogram.Butadvocatesinsisttheslowtechniqueissaferandmoreeffectivethantraditionalmethods. Inpracticingslowliftingonehasto
Justiceinsocietymustincludebothafairtrialtotheaccusedandtheselectionofanappropriatepunishmentforthoseprovenguilty.Becausejusticeisregardedasoneformofequalitywefindinitsearlierexpressionstheideaofapunishmentequaltothecrime.RecordedintheBibleistheexpressionaneyeforaneyeandatoothforatooth.Thatistheindividualwhohasdonewronghascommittedanoffenseagainstsociety.46Tomakerepaymentforthisoffensesocietymustgetequallybalancedwhichcanbedoneonlyimposinganequalinjuryuponhim.47Thisconceptionofdeserved-punishmentjusticeisreflectedinmanypartsofthelegalcodesandproceduresofmoderntimeswhichisillustratedwhenwedemandthedeathpenaltyforapersonwhohascommittedmurder.ThisphilosophyofpunishmentwassupportedbytheGermanidealistHegelwhobelievedthatsocietyowedittothecriminaltoputintooperationapunishmentequaltothecrimehehadcommitted.48Thecriminalhadbyhisownactionsdeniedhistrueselfanditisnecessarytodosomethingthatwilleliminatethisdenialandrestoretheselfthathasbeendenied.Tothemurderernothinglessthangivinguphisownlifewillpayhisdebt.Thedemandforthedeathpenaltyisarightthestateowesthecriminalanditshouldnotdenyhimwhathedeserves. Modernjuristshavetriedtoreplacedeserved-punishmentjusticewiththenotionofcorrectivejustice.Theaimofthelatterisnottoabandontheconceptofequalitybuttofindamoreadequatewaytoexpressit.Ittriestopreservetheideaofequalopportunityforeachindividualtorealizethebestthatisinhim.49Thecriminalisregardedasbeingsociallyillandinneedoftreatmentthatwillenablehimtobecomeanormalmemberofsociety.Beforeatreatmentcanbeputintooperationthecauseofhisantisocialbehaviormustbefound.Ifthecausecanberemovedprovisionsmustbemadetohavethisdone.Onlythosecriminalswhoareincurableshouldbepermanentlyseparatedfromtherestofsociety.Thisdoesnotmeanthatcriminalswillescapepunishmentorbequicklyreturnedtotakeupcareersofcrime.Itmeansthatjusticeistohealtheindividualnotsimplytogetevenwithhim.Ifseverepunishmentistheonlyadequatemeansforaccomplishingthisitshouldbeadministered.50Howevertheindividualshouldbegiveneveryopportunitytoassumeanormalplaceinsocietyandhisconvictionofcrimemustnotdeprivehimoftheopportunitytomakehiswayinthesocietyofwhichheisapart.
Justiceinsocietymustincludebothafairtrialtotheaccusedandtheselectionofanappropriatepunishmentforthoseprovenguilty.Becausejusticeisregardedasoneformofequalitywefindinitsearlierexpressionstheideaofapunishmentequaltothecrime.RecordedintheBibleistheexpressionaneyeforaneyeandatoothforatooth.Thatistheindividualwhohasdonewronghascommittedanoffenseagainstsociety.46Tomakerepaymentforthisoffensesocietymustgetequallybalancedwhichcanbedoneonlyimposinganequalinjuryuponhim.47Thisconceptionofdeserved-punishmentjusticeisreflectedinmanypartsofthelegalcodesandproceduresofmoderntimeswhichisillustratedwhenwedemandthedeathpenaltyforapersonwhohascommittedmurder.ThisphilosophyofpunishmentwassupportedbytheGermanidealistHegelwhobelievedthatsocietyowedittothecriminaltoputintooperationapunishmentequaltothecrimehehadcommitted.48Thecriminalhadbyhisownactionsdeniedhistrueselfanditisnecessarytodosomethingthatwilleliminatethisdenialandrestoretheselfthathasbeendenied.Tothemurderernothinglessthangivinguphisownlifewillpayhisdebt.Thedemandforthedeathpenaltyisarightthestateowesthecriminalanditshouldnotdenyhimwhathedeserves. Modernjuristshavetriedtoreplacedeserved-punishmentjusticewiththenotionofcorrectivejustice.Theaimofthelatterisnottoabandontheconceptofequalitybuttofindamoreadequatewaytoexpressit.Ittriestopreservetheideaofequalopportunityforeachindividualtorealizethebestthatisinhim.49Thecriminalisregardedasbeingsociallyillandinneedoftreatmentthatwillenablehimtobecomeanormalmemberofsociety.Beforeatreatmentcanbeputintooperationthecauseofhisantisocialbehaviormustbefound.Ifthecausecanberemovedprovisionsmustbemadetohavethisdone.Onlythosecriminalswhoareincurableshouldbepermanentlyseparatedfromtherestofsociety.Thisdoesnotmeanthatcriminalswillescapepunishmentorbequicklyreturnedtotakeupcareersofcrime.Itmeansthatjusticeistohealtheindividualnotsimplytogetevenwithhim.Ifseverepunishmentistheonlyadequatemeansforaccomplishingthisitshouldbeadministered.50Howevertheindividualshouldbegiveneveryopportunitytoassumeanormalplaceinsocietyandhisconvictionofcrimemustnotdeprivehimoftheopportunitytomakehiswayinthesocietyofwhichheisapart.
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