This presentation is part of: O50-1 Country Studies

Economic Perspective on the East-West Divide: Adjustments Toward a Detente

Thomas E. Chamberlain, Ph.D., Independent, 2107 Moray Avenue, Los Angeles, CA 90732

Ours is a crucial and pivotal time, admitting the true possibility of harmony and wellbeing around the world, as the consequence of two recent and irreversible developments: (1) The (permanent) arrest or restraint of military adventures between major (nuclear) powers, due to the general recognition (by citizenry and their governments) of the suicidal character of such incursions; and (2) The deepening of mainstream or standard (neoclassical) economics to its neuropsychological foundation, thereby permitting effective domestic and international policies for achieving economic stability and improving welfare everywhere. These developments have recently provided the basis for uniting socialism with capitalism in the common goal of stabilizing the market-economy thereby helping to defeat poverty around the world. The developments may also help to resolve the continuing ideological divide between Eastern and Western Civilization. …Here it is certainly true that a necessary condition for peace and security in our community of nations is justice and fairness in international commerce. The West in this regard may be faulted or criticized for continuing to promote a fundamentally unsound economic system/ideology, to the harm of many people at home and around the world - where dysfunction in this critically important department must undermine and delay the better world that we seek. And the East may suspend or delay or defer opposition in response to sincere commitments by the West. …We are crossing the threshold into a new age, one where suspicion and mistrust of centuries past are replaced by increasing confidence and cooperation imposed by a shared danger. This permanent condition combined with our growing knowledge in the natural and human sciences can improve the lives of people everywhere.