The Rice Thresher

Location: http://the.ricethresher.org/news/2007/09/28/jeb_bush_speech

September 28, 2007 > News > Bush speaks on basics of democracy

Bush speaks on basics of democracy

By Caroline May | Thresher staff

Former Florida governor Jeb Bush spoke at the Baker Institute for Public Policy about the effect of globalization on Latin America and its implications for the overall economic future of the Western Hemisphere. His speech was part of the Robert A. Mosbacher Global Issues Series, which is devoted to initiating discourse regarding the impact of international trade on the economic and social development of countries throughout the world.

Bush said the Latin American economy is falling behind while emerging economies in Asia are growing at increasingly rapid rates.

“The trend is clear and the implications to our standard of living are far reaching,” Bush said.

He said America should reverse the present course and move in an economically beneficial manner, building new relationships with its neighboring countries based on mutual respect, confidence and teamwork.

To strengthen the Western economies, Bush advocated a solid adherence to three basic principles: commitment to entrepreneurial capitalism, advocacy of a narrower definition of democracy and a solid dedication to the education of the populace.

“If we can get education right in our country and the rest of the region, all our problems from social ills to economic challenges will become far easier to solve,” he said.

Bush pointed to institutional corruption and poor public policy as the cause of stagnant economies in many Latin American countries. He said these countries must now seek to fulfill the core values of entrepreneurial capitalism: steadfast and transparent economic regulations, an independent judiciary, labor laws that do not impede the creation of jobs, extension of credit, lower taxes and sound fiscal policies.

“Advocating for freedom and democracy is more than the morally correct action,” Bush said. “It is the economically justifiable one as well.”

Bush pointed to Venezuelan President Hugo Chavez as another problem in the Americas, stating that Western nations have not dealt harshly with him largely because he was democratically elected. But, he added, elections should not be the primary indicator of democracy.

“Elections and liberal acts of economic reform are not sufficient unless they are accompanied by effective, honest government; the protection of liberties; respect for private property and adherence to the rule of law,” Bush said.

Bush also discussed America’s current energy policy, which he said is unsustainable. He emphasized the need for alternative and reliable energy sources and stressed prompt action, pointing to President George W. Bush’s desire to replace 20 percent of the nation’s fossil fuel usage by the year 2012. He said Latin American countries are strong allies in the development and proliferation of bio fuels.

“Our vision should be a flourishing hemisphere where the benefits of economic growth are shared by all,” he said.

Will Rice senior Nick Hambley said he was concerned that low-wage workers would be exploited at the hands of large corporate interests but was impressed with Bush’s vision of building a stronger relationship with Latin America.

“He seemed a lot more knowledgeable than his older brother, George,” Hambley said.

End of article

Back to top