Indeed, I don't think there is any question that poor disclosure bears part of the responsibility for the recent financial instability in Southeast Asia, and the similar problems that existed in Mexico about two years ago. Transparency and the rule of law are also critical components of economic success, Rubin said. Perhaps nothing is more important to the functioning of a market economy than the rule of law. Although economic success is a worthwhile goal, it must not be achieved at the cost of the environment, Rubin warned.
Environmental protection is an economic issue as well as a quality of life issue.
Ultimately, damage to the environment is very expensive economically. In striving for economic success, countries must also consider the effects of rapid economic change upon individuals, Rubin said. There the government has an important role with respect to training and to enabling people to quickly re-enter the economy. That is in the interest of the individual, and it is in the interest of the overall health of the economy. Let me see if I can amplify a little bit on the very thoughtful remarks of your fellow colleague.