Former Yale Professor Mr. Walter Russell Mead delivers guest lecture at SPJIMR, Mumbai

 | August 14,2012 11:28 am IST

Professor Walter Russell Mead delivered a brief address on the World Economic Scenario and Changing trends in International Relations of the US, at a guest lecture, here at SP Jain Institute of Management & Research (SPJIMR). Prof Mead, a former Yale professor, is the James Clark Chase Professor of Foreign Affairs and Humanities at the Bard College, and Editor-at-Large of The American Interest.

He has also been a fellow at the Council on Foreign Relations, USA. A regular on national and international radio and television programs, Prof. Mead contributes to leading news publications like The Guardian, The Wall Street Journal and The Washington Post.

The lecture was organized jointly by the DOCC and Economic Forum of SPJIMR, and was attended by the students of PGDM (Post Graduate Diploma in Management), PGCIM (Post Graduate Certification in International Management) and PGPM (Post Graduate Program in Management) programs at the institute. During his interaction with the students, Prof. Mead expressed his concerns on the current state of the U.S. economy. The financial meltdown is a result of a number of factors. The U.S., growing for 24 straight years, is now in a slowdown, and facing unemployment issues. But this is a part of the cycle that comes inherently with capitalism. People have predicted the end of capitalism with every crash, but it has only come out stronger and better, he said.

Prof. Mead believed that over the last 20 years, globalization, rise of developing countries, and development of IT systems have changed the way the world works. He further shared his insights on how expectations from public and private sectors have changed significantly from nationalism (silos) to global integration. According to him, the question the world faces today is How to manage abundance?

However, Prof Mead was optimistic about the future. With the discoveries of Shale Gas and Shale Oil, North America might become a net exporter of energy, which may revive the manufacturing sector and usher a change in global economic environment, he said. Prof. Mead also spent some time taking questions and interacting with the students which not only increased awareness but also introduced the students to newer paradigms of thinking.