Decisions of this nature cannot be left to a committee of technocrats or a conclave of ministers.

Encouraging them to do more, and giving them reasons to do more, is certainly a worthwhile task for the Indian government and an overt goal of the annual conclave.

As the November 9 12 conclave draws near, the international community s attention seems to be focused mainly on technocratic policy changes deemed essential to restructuring China s state dominated economy and reenergizing growth.

One might expect the Fed chairmanship arguably the second most powerful official position in the United States, and certainly the world s most powerful financial position to be determined by a conclave of central bankers.

The two week conclave meets annually, and while it is unfair and inaccurate to characterize the Congress as a rubber stamp exercise, delegates tend, in the main, to jump on the bandwagon of policies constructed by the central government, and by the Communist Party.

In October 2005, Guatemala had hosted a Conclave of the Indigenous Peoples of the Americas, followed by the sixth meeting of negotiations to seek consensus on the American Declaration on the Rights of Indigenous Peoples, within the framework of the Organization of American States (OAS).

A central bank version of the Vatican s papal conclave would have a hard time deciding whether to send up the fumata bianca for Yellen or for Summers or perhaps for someone else (another former Fed vice chair, Donald Kohn, now appears to be in the mix) with similar inclinations.

For example, the Global Compact Egypt network held a series of seminars on implementation, while the Global Compact Society India helped convene a two day Global Compact Regional Conclave in South Asia in Jamshedpur, which drew more than 200 participants and focused on the issue of business and poverty.