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Peter Drucker lectures to his students in an executive management course. During his talk, he discusses: Chinese and Russian book censorship, the popularity of "Dr. Zhivago" in Russia, the creation of the standing army, value in economics, the United States’ debt in its own currency, the German mark and pound sterling, the enormous surplus of money and great shortage of capital, information as global, an economic and eventual political union of North American countries, and the localization of markets. The video begins with the lecture in progress.