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February 16, 2005 - Image 7

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NEWS

The Michigan Daily - Wednesday, February 16, 2005 - 7

STIGLITZ
Continued from page 1
off," Stiglitz said.
Stiglitz explained the problem
with the trade market using cotton
farmers. "The way you get subsi-
dies is you grow more, so as these
American farmers produce more,
the price of cotton goes down and it
hurts ten million cotton farmers in
Sub-Saharan Africa. So the poorer
are made poorer and the rich are
made richer," he said. "In response,
the U.S. Trade representative says
to the Africans: 'Why don't you go
into some other line of business?'
This is an area where there is no
other line of business," he said.
Stiglitz continued by discussing
the Clinton administration's diffi-
culties in improving access to life-
saving medicine and problems with
the North American Free Trade
Agreement.
"The problem with NAFTA is it
is hundreds of pages that no one has
time to read so bills get passed in the
agreement that would not normally
make it through legislation," he said.
Stiglitz also talked about global
stability. "The U.S. dollar is cur-
IRAQ
Continued from page 1
"The insurgents don't seem to be
inhibited by the results of the elec-
tions," Krohn said.
Pintak said although elections are a
good sign, the country is very unsta-
ble. He added that it still must contend

rently the most important reserve
currency, but the system is unsta-
ble."
The dollar, he explained, is no
longer a secure store of value. "The
dollar continues to weaken, and
countries such as Japan are losing
money by keeping reserve in dol-
lars," he said.
With a smile, he added, "We can
convert our money to Euros, and I
advise you to do so."
Stiglitz concluded by stating, "I
remain hopeful that we will be able
to make globalization work, and we
will be able to reform. It will not be
quick, and it will not be easy, and
the process of reform may not in
every respect be pleasant, but the
alternatives are even worse."
Responding to his speech, Rack-
ham student Andrea Jones-Rooy
said, "I like his approach, and
I think he's exposing problems
which people may not have noticed
before." She added, "If people read
his books and agree with them, then
the changes he's proposing may be
realized."
LSA senior Amanda Altman, who
is taking a class that centers around
Stiglitz's work, said, "I thought it was

very interesting when he was talking
about access to medication and trade.
It's a really important issue, and I
was glad he discussed it."
RC freshman Jason Matney, who
is also studying Stiglitz, said, "He
is criticizing the system, but he is
criticizing it from the perspective of
someone who has previously served
in the administration, and I think
that makes it really effective."
Stiglitz was the Chairman of the
U.S. Council of Economic Advisors
under the Clinton administration
from 1995 to 1997. He also served
as the senior vice president of the
World Bank from 1997 to 2000.
Stiglitz has been a professor at
universities such as Yale, Princeton
and the Massachusetts Institute of
Technology and currently holds
joint professorships at Colum-
bia University's Business School,
School of International and Public
Affairs and economics department.
Rebecca Blank, Dean of the Ger-
ald R. Ford School of Public Policy
said, "Joe Stiglitz is always a fasci-
nating and provocative speaker, and
we are grateful to Citigroup for giv-
ing us the funds to bring people like
him to campus."

PARTIES
Continued from page 1
and there will be a smaller Greek
freshman class," said LSA freshman
Jeremy Zaks, who is currently pledg-
ing Alpha Sigma Phi.
LSA freshman Alison Ladman, a
member of the sorority Sigma Delta
Tau, expressed a more serious concern.
"Soon enough, if they keep mak-
ing laws this way, there will be no
more Greek life," she said.
According to IFC spokesman Jon
Krasnov, the changes will actually help
Rush numbers. Rush events, Krasnov
said, will be better coordinated within
the Greek community. Instead of large
parties with many students not inter-
ested in joining and copious amounts
of alcohol, Rush events will be more
about unity and reaching out.
"There will be events prior to the
formal recruitment week that will
allow underclassmen to understand
the Rush process and to meet as many
brothers as possible," Krasnov said.
He described Rush as "a formal day
of open houses followed by a week of
formal recruitment. Houses will also
host informal events that potential
rushees will be welcome to attend."
The new policies also call for an

IFC representative to be present at
the door of a fraternity house when
the house hosts a registered party.
Many students - Greek and non-
Greek - said they like the idea of
sober monitors but feel that having
an IFC representative is extreme.
"It will be like having parents
around at parties," Ladman said. She
added that she is not sure how effec-
tive sober monitors will be. "Drunk
football players aren't going to back
down to a 135-pound freshman boy
that has been assigned as a sober
monitor," she said. But Ladman said
she still supports the idea.
As for the new rules regarding
alcohol and-event registration, stu-
dents said they feel that fraternities'
hands will be tied and parties will
not be as much fun. The regulations
now require attendees to bring their
own alcohol if they choose to drink.
"The BYOA rule is not a good rule.
It forces people to drink more before
they leave (their residences) in a less
social atmosphere. That means that
people will drink more in a shorter
amount of time, which is dangerous.
If a frat could serve a keg at a party,
people would be drinking more
socially and more slowly - a much
less dangerous scenario," Zaks said.

LSA freshman Bradley Mock, who is
not a member of a fraternity, expressed
sympathy for fraternities in general.
"I think the changes put too many
restrictions on fraternities.... They've
been like that for a long time, and I
don't see why there should be more
restrictions placed on an established
community in the University," Mock
said. He added that he always felt
safe at Greek parties even before the
new rules took effect.
Krasnov said he was not worried
about negative feedback.
"People are skeptical about change.
We feel that everyone is adapting to
the new policy as well as we could
have hoped. Greek members under-
stand that it's an essential change to
establish a safer atmosphere and to
decrease liability for fraternities."
Students agree, regardless of their
Greek affiliation, that it will be hard
to judge what effect the changes will
have on Greek life until the fall 2005
semester begins.
"We feel that this semester is a
transitional period and we are more
than satisfied with results thus far,"
Krasnov said. Because there are
fewer large Greek social events in the
winter, many of the new restrictions
have not yet been put to the test.

with many issues ranging from how
to deal with the oil industry to how to
maintain an army.
LSA senior Tania Orandi also said
Iraq is still very unstable.
"The fact that insurgents and politi-
cal groups are not trying to negotiate
while still attempting to make a politi-
cal impact is what is really leading to

an unstable political environment,"
she said.
Whether the elections are a stepping
stone to a stable and lasting democ-
racy in Iraq is uncertain, but they are
a beginning, Krohn said.
"The elections are a step in the
right direction; it begins a process,"
he said.

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