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To: pallmer who wrote (4755)	1/13/2003 11:32:01 AM
From: pallmer	Read Replies (1) \| Respond to of 29600

-- Soros, Spence, Stiglitz and Rischard Weigh in on the Future of Capitalism in New -- /FROM CANADA NEWSWIRE TORONTO 416-863-9350/ TO NEWS/BUSINESS EDITOR: Soros, Spence, Stiglitz and Rischard Weigh in on the Future of Capitalism in New Issue of Rotman School Magazine. TORONTO, Jan. 13 /PRNewswire/ - Capitalism has lead to the creation of unprecedented wealth, advanced technology and widespread prosperity. However, recent events make it painfully clear that left to their own devices, some capitalists will betray the marketplace for their own short-term self-interest. Recent corporate calamities have challenged the credibility of the financial reporting system, and in turn, the faith of investors in the capital markets. A search is underway in which management can be made more responsible, both to shareholders and the community at large. In light of these events, the next phase for capitalism is examined in the Winter 2003 issue of Rotman Management, the alumni magazine of the University of Toronto's Joseph L. Rotman School of Management. In this issue, Rotman Dean Roger Martin argues against stock options for executives while Prof. Mihnea Moldoveanu, director of the Rotman School's CCMF Centre for Integrative Thinking, says it's time for a re-consideration of the rule-based system that governs the financial arena. Three heavy hitters in the globalization debates - Joseph Stiglitz, 2001 Nobel Laureate in Economic Sciences, George Soros, president and chairman of Soros Funds Management, and J.F. Rischard, The World Bank's vice president for Europe - share their thoughts on what has gone wrong with globalization, and how we might go about fixing it. Rotman Professor David Beatty offers suggests for how corporate boards can become more effective and Prof. Len Brooks discusses some of the recent governance scandals that have led to the calls for reform. Michael Spence, 2002 Nobel Laureate in Economic Sciences, discusses his work on signalling and his analyses of markets with asymmetric information, and Joe Martin, Rotman's executive-in-residence, presents a useful history of capitalism. Rotman Management also features the latest news and events from the Rotman School including a report on the winners of the 2002 Rotman Canadian Woman Entrepreneur of the Year Awards. The Winter 2003 issue is available at www.rotman.utoronto.ca/news/magazine.htm. Recently ranked by The Wall Street Journal and BusinessWeek among the best business schools in the world, the University of Toronto's Joseph L. Rotman School of Management offers leading-edge research and prestigious degree programs. SOURCE Joseph L. Rotman School of Management /CONTACT: Ken McGuffin, Manager, Media Relations, Rotman School ofManagement, 105 St. George Street, Toronto, Ontario, M5S 3E6, Voice:(416) 946-3818, Fax: (416) 978-1373, E-mail: mcguffin@rotman.utoronto.ca/ 13-Jan-2003 12:00:00 GMT Source PRN - PR Newswire