Subj: Whitney MacMillan Msg
Date: 11/3/2003 11:16:08 AM Easter Standard Time
Flying back from Washington, D.C. recently I found the peace and quiet
and time to read your Chapter 10. It’s a superbly laid out program
based on deep philosophic roots and common sense. I hope it’s not too
esoteric for the average reader.
I share all your views about the need for democratic capitalism over
financial capitalism. As you know, Cargill did an ESOP upon my
retirement. This allowed illiquid shareholders a change to exit their
investment while allowing the company to stay private. My understanding is that current management is considering a second ESOP in the near future.
I also agree with your rationale toward short-term “it is” and the misallocation of resources through the float of the dollar and ERISA. However, I have great difficulty being optimistic about the United Nations. The governance of the organization did not anticipate the complications of 191 members (mostly equal). In my view it’s impossible to lead the existing multilateral institutions out of their morass. It might be possible to force them into reforming by withholding funding.
How is the publishing date coming?
(dictated but not read)