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Sarkozy Wants G-20 to Reject 'Cult of the Market'
When the G-20 meets in Pittsburgh next week, French President Sarkozy will urge world leaders to make two moves -- one immediate and one long-term -- that have the potential to temper capitalism's worst abuses and reassert human values at the national and international levels.
Sarkozy's aides say he will walk out of the summit of presidents and prime ministers from the world's most developed countries if the leaders fail to endorse a plan to curb bonuses for bankers.
That's the immediate demand. And it is an important one, as it could put the G-20 in the unusual position of trying to tame -- rather than cheer on -- the banksters and corporate CEOS that have so unsettled the global economy.
But even more important will be the French president's push to "revolutionize" international definitions of development, progress and achievement.
In recent decades, those measures have pretty much begun and ended with the bottom-line details of economic growth and wealth accumulation.
But Sarkozy says he wants to use the G-20 gathering as the launching point for a "fight" against what he describes as the "cult of figures" and the "cult of the market."
"A great revolution is waiting for us. For years, people said that finance was a formidable creator of wealth, only to discover one day that it accumulated so many risks that the world almost plunged into chaos," argues the French leader. "The crisis doesn't only make us free to imagine other models, another future, another world. It obliges us to do so."
Sarkozy's "revolution" would still use measures of economic growth and contraction in the analysis of a nation's success. But the definition would be expanded beyond traditional gross domestic product (GDP) models to include measures of well-being and what Sarkozy describes as "the politics of civilization." These include environmental sustainability, the quality of public services and the amount of time citizens of a country have to meet family responsibilities -- which the French leader values as "personal services provided within a family circle."
Sarkozy, a conservative who was elected on a platform that promised to make the French economy more efficient and workers more productive, is not proposing some new-age fix for what ails the global economy. Rather, he is arguing that it is time to "refound" capitalism within what he describes as "moral" parameters in response to the now year-old global economic downturn and an equally serious decline in public confidence about the direction of nation states.
The broader measures are outlined in a report Sarkozy commissioned almost two years ago from a team of Nobel Prize-winning economists who have been critical of standard approaches to measuring the progress of nations, including American Joseph Stiglitz and Indian Amartya Sen, as well as Jean-Paul Fitoussi, the internationally-respected president of the French Observatoire des Conjonctures Economiques (OFCE).
The report from France's Commission on the Measurement of Economic Performance and Social Progress proposes a global "statistical system which goes beyond commercial activity to measure personal well-being..."
That's what Sarkozy will be talking about in Pittsburgh next week, as the G-20 gathers. And he won't be alone. Stiglitz will be in the city, as well, joining civil-society leaders and activists to discuss the development models and measures at a September 23 forum sponsored by The Nation, the Institute for Policy Studies and a coalition of grassroots groups.
Says Stiglitz, "GDP is an attempt to measure one part of what is going on in our society which is market production. It is what I call GDP fetishism to think success in that part is success for the economy and for society."
Stiglitz, the former chief economist of the World Bank, argues that, "While there is no single indicator that can capture something as complex as our society, the metrics commonly used, such as gross domestic product, suggest a trade-off: one can improve the environment only by sacrificing growth. But if we had a comprehensive measure of well-being, perhaps we would see this as a false choice."
Getting beyond false choices, contends the winner of the 2001 Nobel Memorial Prize in Economic Sciences, will allow for sounder policy-making on the parts of governments and global groupings such as the G-20.
"What we measure affects what we do," explains Stiglitz. "If we have the wrong metrics, we will strive for the wrong things."
Using sounder measures will also increase the legitimacy of governments in the eyes of citizens, says Sarkozy.
That's a message that could resonate with at least some G-20 leaders, especially if the French president delivers it in the terms he used in Paris Monday.
"For years, the official figures have boasted of more and more economic growth," Sarkozy said at the Sorbonne. "It now appears that this growth, by placing the future of the planet in danger, destroys more than it creates? All over the world, people are convinced that we are lying to them, that the figures are false, or worse, faked. Nothing could be more damaging to democracy."


28 Comments so far
Show AllIf Sarkozy was an American politician, the right wing noise machine would call him a Communist. In fact, it wouldn't surprise if they've already call him that and worse.
Indeed. This is going to go over like a lead balloon at the conference. GDP fetishism, commodity fetishism, Marx anyone?
Sioux Rose
Another voice of sanity enters the global economic debate! The date of September 23 for this conference is auspicious. It is the day the sun enters Libra, sign of justice and the ideal of balance, just in time for the autumn equinox. This position (the sun at zero Libra) forms a square to Pluto, as it moves across Capricorn, the sign most resonant with corporatism or the new breed of potential 21st century global fascism. The tension between these two signs represents where two of the key outer planets will pass during the next 10 months. It's the celestial equivalent of "the coming atractions" to the great movie (collective reality) that we all participate in.
Between the Spanish Judge Garzon pushing for genuine accountability in the face of state leaders abusing their power and privilege, and Putin speaking about a new kind of global basis for citizenship, and Chavez setting up deals that spread profit around, even to "the least among us," and now Sarkozy introducing a more enlightened form of capitalism... leadership from outside the U.S. (as it's bankrupt in so many ways) is beginning to rise to the occasion to meet the challenges that beg for, and indeed demand, intelligent new approaches and initiatives. Thank Goddess that some are paying attention and actually care about humanity!
Sarkozy?
Wasn't he a friend of Bush?
Didn't he beat out a socialist candidate?
Didn't he try to defeat a public worker's strike?
Who is this new guy? And why is the Nation acting like Sarkozy is a good guy?
Sarkozy is quite right-wing by French standards.
This report is very encouraging. Nichols is no lightweight. He has a good nose for hypocrisy, and he's reporting Sarkozy's call for change as if he is persuaded that it is sincere. We'll know soon enough.
And by the way, who gives a rat's derriere what the Right Wing Noise Machine says about Sarkozy or anyone or anything else anyway? When was the last time you heard any information coming from those sources that comported with reality or common decency? Fear, anger, hate, and lies--no lie is too absurd, mean spirited, transparently manipulative, divisive, or destructive--are the Right Wing Noise Machine's stock in trade.
It is encouraging. At that the same time, I doubt they even pause to consider it. They are too busy with exploitation and easy profits to even care.
"And by the way, who gives a rat's derriere what the Right Wing Noise Machine says about Sarkozy or anyone or anything else anyway?"
From his habit of throwing progressive members of his administration overboard, Obama obviously cares what these mental midgets say.
q
kw
This is going to be the real debate. The only way to save our world will be by redefining growth.This is a very simple truth: Nothing can grow forever, least of all expontentially. And when you count growth in percentage increase, then you talk about expontential growth. The "happyland prophets" don't think beyond their own bank account and they create "doomsday".
We are at the end of an era. What was alright when we were 500 million or 2 billion is not anymore so with a global population of 6 billion and 2.5 billion more to come by 2050 and hundreds of millions acquiring a Western middle class lifestyle. We have hit and surpassed global limits and wishful thinking does not help us. There is no bail-out from Mars.
Sarkozy is a strange figure, but in this respect I would not underestimate him. He can be incredibly stubborn when he is convinced of something and he has the pressure of a highly politicized French public on him (those that helped him to power might not be that happy with him though).
if stiglitz had a yard-stick to measure how far up his ass his BS extends, that would be real progress!
Funny how people that are shown to be right again and again like Stiglitz - are continually chastised by those that don't want to face the truth.
I put Stiglitz and Nader in the same camp - voices of reason that are largely ignored by those who really don't want to take the medicine to fix the problem.
Well, Obama joined Bush in bailing out predatory capitalism, when he should have let the banks fail. The rest of us will, I suspect, remain the wage slaves we deserve to be, since we accept all this, lickspittling and toadying to power.
Common sense never gets very far...money talks louder. I don't beleive any politicians will do much more than pay lip service to concern for the environment- until the economy collapses completely and then they'll be out in the garden hoping to god they have enough food for the winter.
I agree. It's green washing and grand standing. Back in France, they've discovered secret documents of the Sarkozy government to use the swine flu pandemic as a pretext to remove all the civil rights of the French.
http://coto2.wordpress.com/2009/09/10/judges-report-france-to-use-swine-flu-to-commit-liberticide/
[A report by the] Syndicat de la Magistrature called the measures “revolting” and said they would amount to “liberticide,” and called on Justice Minister Michele Alliot-Marie to abandon the plan.
The union was due to release on Tuesday the text of the government plan, which it said was provided to heads of courts in great secrecy in July, the newspaper reported.
French judges protest secret pandemic tyranny decrees
The union of judges and lawyers in France has written a letter of protest to the French Justice Minister over plans to strip people of their civil liberties during the swine flu pandemic, which were made ”in the greatest secrecy.”
According to a report in Le Monde on Tuesday, the lawyer’s union has fiercely criticised the decree which would dismantle the civic rights of the people of France in the name of a pandemic emergency and which was issued without any “democratic debate”….
Emmanuelle Perreux, president of the judge’s union said that it was “unacceptable” for the government to remove people’s fundamental liberties by secret decree on the pretext of a pandemic emergency.
She said that she hoped that parliament would intervene after the revelation on Tuesday that the French Minister of Justice Michele Alliot-Marie had circulated orders in secret in July instructign judges to allow children to be put on trial in adult courts and detentions without any court order in the name of a pandemic emergency.
Alliot-Marie denied that there was “any secret plan” and claimed the secret orders were a provisional working document as outrage in France over the secret vaccination and detention plans that are now attracting widespread coverage in the mainstream media mounts….
http://www.theflucase.com/index.php?option=com_content&view=article&id=529:french-judges-protest-secret-pandemic-tyranny-plans&catid=41:highlighted-news&Itemid=105&lang=en
Nice guy, Sarkozy with his cozy relationship to fascist pharmaceutical companies.
http://www4.dr-rath-foundation.org/THE_FOUNDATION/ghosts_of_auschwitz_20090807.html
They are now using the pandemic world wide to create chaos and try to install singular global control, including monetarily.
http://www.globalresearch.ca/index.php?context=va&aid=13239
Sarkozy is dangerous democratically to his own people and the showboating is likely to give him much needed support as the French are outraged at what he has tried to do to them.
As you can see, experts are saying the pandemic is a military agenda.
http://www.examiner.com/x-10438-Peace-Studies-Examiner~y2009m9d3-Canadian-health-experts-to-expose-H1N1-flu-military-agenda
According to the AFP, France's daily Liberation reported Tuesday that judges' union documents show a French government plan, coinciding with the "pandemic" and vaccinations, to "extend the period police can keep a suspect in detention without charge or a hearing before a judge to up to six months. Suspects would also not be able to contact a lawyer until after spending 24 hours in custody. Under the plan, children could be tried in adult courts and more trials held behind closed doors."
Your links either do not support the argunents for which you use them (some of them don't even mention Sarkozy), are hysterical rants, or are unavailable.
Nobody on this board would mistake Sarkozy for Buddha or Ghandi and your superficial and pathetic to discredit someone who is striking a positive note suggests that your motives are less than straightforward.
q
No, Moore is basically correct about the national outcry against the Sarko government's secret measures in re the flu pandemic and its attempts to use the situation to curtail civil rights, and his quotes from Liberation were exactly what i myself read. Many professional and political groups are challenging the government on these measures and demanding complete transparency, which has not been forthcoming. I live in France, and I can tell you that these controversies are definitely real. I also can't blame Moore for suspecting that Sarko is showboating in his stated desire to impose controls and restraints on world finance, since hot-dogging has always been the man's modus operandi. Bear in mind that even amidst the economic crisis, his government has continued in its agenda to privatize and/or partially dismantle some of France's vast social welfare system. Just imagine, there have been debates over the national health-care system in which the government's spokesmen have proposed ideas for "reform" based on the American system!!! There has also been not a peep from the Sarko government over the European Union's diktat that France, along with the other countries, should privatize the delivery services of its postal system, which is perhaps the most efficient government service of all in FRance. Sarko is also trying, à la Bush, to get rid of the estate tax. Thus the possibility that Sarko may have become disillusioned with the very same laissez-faire capitalism that he's been trying ram down the throats of the French since taking office does seem a bit unlikely. On the other hand, the man is a pathologically ambitious political animal, and he may have gathered that, with people like Obama and other first-world leaders still in denial as to the severity of the crisis that is upon us, this is a supremely ripe opportunity to play the wise, far-seeing statesman. And let us not forget that Carla Bruni, Sarko's ultrazillionaire, superbabe of a wife, calls herself a "leftist" and may be whispering progressive ideas into the president's ear at night.
As a footnote, I should add that Sarkozy's employment of Stiglitz to his task force was a smart move. Here's a man Obama should have appointed to his cabinet, who would have lent intellectual integrity and foresight to an economic team that looks pretty self-serving and cynical.
I'm sick and tired of today's American political discourse. It's always about "my" rights, "my" money, "my" freedom to do whatever "I" wish.
Americans should read the constitution, it starts "We" the people. "We" live in a society. "We" live in a community. No one lives individually. NO ONE LIVES INDIVIDUALLY.
I sincerely wish the best of luck to Sarkozy.
sioux rose thanks for the cosmic time. its important to
know when to pick our fights. seems like its the right time
to get it on so to speak!
moore if you go to global research.ca you will see just
who mr. sarkozy is! family was a big heroin importer after ww11
and slowly went legit! guys got some baggage + my friends
who go to france often tell me that he has pretty much
crushed the left due their imcompetence and a void of
leadership due to the decline of their main guy.
maybe their forcing their legendary democracy on him again
and making him do their bidding. the french are certainly
no joke and they will make him do as they want. too bad
we soft americans have neither the spine nor the will
to fight like they do! viva la france!
"Sarkozy's aides say he will walk out of the summit of presidents and prime ministers from the world's most developed countries if the leaders fail to endorse a plan to curb bonuses for bankers."
Wow....impressive talk! Let's see if he lives up to his promises.
If nothing else, we have to give this guy credit for at least talking about establishing "moral" parameters with regard to the corrupt banksters.
"Politics without principles;
commerce without morality;
wealth without charity;
science without humaity;
education without character;
plearure without purity (of heart) -- are not
only useless, they are positively dangerous"
The revolution we need is education with character -- leading to politics with principles, commerce with morality, and, science with humanity.
God-willing, we can work towards those goals.
Bless
Always remember that almost all mainstream European and most mainstream Canadian conservative politicians are liberal by US standards. In fact, they are more progressive than Obama and the Democrats. Sometimes, and in some respects, they are much more progressive than them.
As for Sarkozy, he is my hero. Here is a guy who the French for a few months after they voted him in were thinking was a mistake, but who has come through rather well all things considered. He has turned out to be much more resiliant and progressive and, well, French, than people were thinking back in the summer of 2008.
I'm afraid, though, that among the fascists who will be gathering in Pittsburgh, Sarkozy will be just a meaningless peasant. (Your presidency of France means nothing to us; see 1941 for details of what we mean. Laugh out loud.)
Seriously, It's not only that the US is not going to, as Sarkozy wants, adopt or even consider adopting broader and more realistic measures of and perspectives on the economy. It is worse than that. It is that the US is moving in the opposite direction to that as we speak.
The US is now running two separate economies: one for roughly the top 10-15%, and the other one for the other 85-90% of the population. For the top 10%, non-market, non-traditional perspectives and performance measures are simply irrelevant, since for them money (financial assets if you prefer) alone is all that matters. This is simply because the sheer amount of money they control is so massive that everything else you could possibly think of in economics (besides huge amounts of money and how fast those sums are growing) is unimportant.
Furthermore, the amount of money controlled by the rich is in fact determined by markets as traditionally defined, and as measured by the traditional indicators. Obviously, the higher the GDP growth, the more profits by big corporations there are, and so the more money there is for the top, regardless of whether there are any new jobs being created or not.
Meanwhile, since they have no political representation, and since they as of now refuse to stand up for themselves and, for example, demand health care, or demand jobs, etc, the welfare of the bottom 85-90% is totally meaningless to the wealthy power elite. So no new economic measures or perspectives are needed for them. Let them eat cake.
So sorry, President Sarkozy, America is not interested in new economic parameters (or in economic progress, for that matter) for the middle or the lower classes, so go back to Paris like a good little boy and don't make a fuss.
Finally Stiglitz and Sarkozy suggest profits at the expense of the well-being of all of us is not real "growth".
Sounds like Sarkozy will be winking like crazy at the summit! Oui, c'est des conneries!
While it's true that w. European conservatives are usually far to the left of US conservatives on most issues, titular conservative Sarkozy managed to get elected to the French presidency on positions that sounded awfully close to Bush babble.
The fear that Frenchies had begun to drink the proverbial Kool-aid was dispelled soon enough, though, when Sarkozy's pro forma, post election attempts to tamper with social welfare programs, labor union rights, and pension benefits were shouted down in short order. Notably, neither Nic or his party have pressed these attempts since.
Sarkozy's election, and his political strength at home, to date, lies not in any geniunely-held US conservative economic beliefs, but in his domestic rhetoric promising conservation of France's cultural identity against "... denaturing by Moslem hoardes within....", as his party once put it.
Sarkozy is largely a titular conservative, which in France means, a provisionally acceptable oportunist: he may in passing be given high power only if he is conservative about cultural issues and progressive on most other matters.
That he can use his international standing, such as it is, to mount an effective attack on how capitalism mis-defines its output and distribution of wealth, is doubtful.
But it will be commendable if he makes the attempt, and very interesting to see him try.
Considering French history and the French peoples past actions to deal with Sarkozy's attempts to dismantle their social safety nets and protections against corporate usury, their revenge against Nazi collaborators and how they resolved their problems with aristocracy during the French Revolution it is simply a matter of self preservation for Sarkozy to change his tactics. Unlike their sheeple cousins in America the French people understand their power and when they want their government to actually represent the will of the people they participate in national strikes and take to the streets.
The biggest threat averted in the bail out of the American financial elites was the avoidance of a general revolution by the peasant class. If they didn't get this under control we may have actually risen up and placed guillotines on wall street and the national mall and solved the American aristocracy problem once and for all.
All of the rhetoric and politics aside the true struggle in America and the world today is "Class Warfare". The American aristocracy has spent billions over the past three decades brainwashing the public into believing that any social programs or regulation of capitalism by the government is the greatest of all evils.
For Whom???
The idea that unregulated "Free Capitalist Markets" promote equity and justice is blatantly FALSE. Unregulated free market capitalism is the economic equivalent of anarchy where the basest human instincts of greed and dominance by the privileged rule.
Capitalism is an evil, corrupt system even in its classic British form which Adam Smith defended and always linked to imperialism as was classic British capitalism and fought against in the 1770s and 1780s by, yes, our founding fathers. The old saying you can't make a silk purse out of a sow's ear is the one to think when somebody talks about saving this system of tyranny of the rich and super rich over the working class and middle class who create the wealth while the rich and super rich rob them of it by saying they'll manage it for us. They'll manage to put it in their bank accounts. Now let's get rid of the damn BS system and be done with the damn disease infected prostitute, before we all catch something serious.
AD
So the States' supposed centrist is still to the right, even right of Sharkozy.
Well, I won't pretend surprise.
What wouldn't I give for ripe camembert and a bottle of Sidi Brahim.