THE SUBJECT

The global marketplace is reality. Money and ideas can and do move to any place on this planet in seconds, and there is no longer any place to hide from the judgments of others....
Every day, a computer system called CHIPS in the New York Clearing House processes the debits and credits of London Eurodollar trading in a volume approaching some $200 billion.... This market is not just more of the same: it is something new in the world ... The global information-intensive marketplace for ideas, money, goods, and services knows no national boundaries....
Economic interdependence in no way lessens the importance of independent national initiative. . . . Each nation has to evolve its own system for bettering the condition of its people....
The great global corporations are a new expression of the entrepreneurial thrust that thrives on the free exchange of goods, services, factors of production, technology, capital and ideas. They are now the principal agents for the peaceful transfer of technology and ideas.... Since no country has a monopoly on industrial and agricultural skills, or on other knowledge, this transfer is necessary if we are to raise the world's living standards....
The reality of a global marketplace has pushed us along the path of developing a rational world economy. Progress owes almost nothing to political imagination....
The development of truly multinational organizations has produced a group of managers who really believe in one world.... They are against the partitioning of the world on the pragmatic ground that the planet has become too small, that our fates have become too interwoven for us to engage in the old nationalistic games which have so long diluted the talent, misused the resources, and dissipated the energy of mankind....
Economic chauvinism is obsolete in a world where the prosperity of all nations depends more and more on cooperation and free trade.