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. the michigan daily " 1100 Sq. Ft. Apts. Great for 2-5 people " Free High-Speed Internet " Free 130+ Channel Direct TV * Built in microwave, dishwasher, disposal * Beautifully furnished " Close to CCRB " Complimentary Resident Shuttle around Central and North Campus * Exercise Facility, Rec. 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