A panel of expert journalists discuss the economics that incited the Occupy Wall Street movement.
The New School for Public Engagement is a division of The New School, a university in New York City offering distinguished degree, certificate, and continuing education programs in art and design, liberal arts, management and policy, and the performing arts. ' http://www.newschool.edu/public-engagement
Martin Wolf of the Financial Times and Pulitzer Prize winner David Cay Johnston of Reuters discuss how the 99 percent can effect real change. Wolf and Diamond are contributors to The Occupy Handbook, to be published this month by Little, Brown.
Wolf and Diamond are joined by the economist Daron Acemoglu of MIT; political scientist and economist James A. Robinson of Harvard; Jeff Madrick, journalist and author of The Case for Big Government; Bethany McLean, contributing editor toVanity Fair and co-author of The Smartest Guy in the Room: The Amazing Rise and Scandalous Fall of Enron; Robert Solow, Nobel prize winning economist who made a crucial discovery 56 years ago about corporate tax law that Congress has never corrected; Jeffrey D. Sachs, director of The Earth Institute of Columbia University;and Raghuram Rajan of the University of Chicago/Booth School of Business, a former chief economist of the International Monetary Fund who in 2005 predicted the world economic collapse of 2007--2008. The discussion will be followed by a Q&A.
The discussion is moderated by bestselling author John Cassidy of the New Yorker magazine with David Scobey, executive dean of the New School for Public Engagement, and John Irons, managing director of the Rockefeller Foundation.
Location: New York Society for Ethical Culture, 2 West 64th Street, Wednesday, April 18, 2012 3:30 p.m
A professor of Applied Economics at M.I.T., Daron Acemoglu is among the 20 most cited economists in the world. A 2012 New York Times Magazine feature said he is "as hot as economists get." In 2005, he received the prestigious John Bates Clark Medal, for being a top economist under 40. Acemoglu is the co-author, with Harvard's James Robinson, of the New York Times bestseller Why Nations Fail, which, like Jared Diamond's Guns, Germs, and Steel, is a major work of historical, political and cultural heft that comes along once every few years.
Born in Turkey and educated in England, Acemoglu has written for mainstream magazines such as Esquire and co-edits academic publications, such as The Journal of Economic Growth. Acemoglu's expertise stretches across a full spectrum of macroeconomics, with a focus on the role of institutions in economic development: how will institutions react to the demographic shifts to the 21st century? How will the rise of new superpowers change the global economy?
John Cassidy has been a staff writer at The New Yorker since 1995. He has written many, many articles for the magazine, on topics ranging from Alan Greenspan and Ben Bernanke to the Iraqi oil industry and the economics of Hollywood. He also writes a blog on The New Yorker’s Web site, entitled “Rational Irrationality.” His latest book, “How Markets Fail: The Logic of Economic Calamities,” was published in November, 2009, by Farrar, Straus and Giroux.
Cassidy is also a contributor to The New York Review of Books and a financial commentator for the BBC. He came to The New Yorker after working for newspapers on both sides of the Atlantic. He joined the Sunday Times, in London, in 1986, and served as the paper’s Washington bureau chief for three years, and then as its business editor, from 1991 to 1993. From 1993 to 1995, he was at the New York Post, where he edited the Business section and then served as the deputy editor.
John Irons joined the Economic Policy Institute in 2007. His areas of research include the U.S. economy and economic policy, with an emphasis on federal tax and budget policy. He previously worked as the Director of Tax and Budget Policy at the Center for American Progress (2004-2007) and as a tenure-track Assistant Professor of Economics at Amherst College (1999-2003). He has also worked for the Brookings Institution (1995) and at the Federal Reserve Board of Governors (1992-1994). His academic publications have appeared in several journals including the Journal of Monetary Economics, Journal of Applied Econometrics, and the Review of Financial Economics. He is also co-editor of Testing Exogeneity, published by Oxford University Press. He has won several awards for his economics Web sites, including top-5 awards from The Economist and Forbes. He currently serves on the Committee on Electronic Publishing for the American Economic Association, and on the Board of Governors of the National Economists Club.
David Cay Johnston
David Cay Johnston was an investigative journalist for The New York Times now focusing on the subject of taxation. He accepted a buyout offer from the Times in April 2008 and is now an independent reporter.
He most recently published Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense and Stick You With The Bill, about hidden subsidies, rigged markets, and corporate socialism. It follows Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich - and Cheat Everybody Else, a New York Times bestseller. Johnston received the 2001 Pulitzer Prize for Beat Reporting "for his penetrating and enterprising reporting that exposed loopholes and inequities in the U.S. tax code, which was instrumental in bringing about reforms." He also won the Book of the Year award from Investigative Reporters & Editors.
Johnston has also investigated uncaught murderers, the unfairly imprisoned, Los Angeles Police Department abuses, Barron Hilton, misuse of charitable funds at United Way, news manipulation at WJIM-TV, and Donald Trump's net worth.
In 1968, Johnston began his career at the San Jose Mercury News. In 1973, Johnston left the Mercury News to study at the University of Chicago under a five-month fellowship. He then took a position as an investigative reporter at the Detroit Free Press in its Lansing bureau from 1973 to 76, and later worked as a reporter for the Los Angeles Times from 1976 to 1988. He then worked as a reporter at The Philadelphia Inquirer in 1988. Johnston joined The New York Times in February 1995.
In addition to his journalistic career, Johnston studied economics at the University of Chicago graduate school and at six other colleges, earning six years of college credits but no degree.
JEFF MADRICK is editor of Challenge Magazine, visiting professor of humanities at The Cooper Union, and director of policy research at the Schwartz Center for Economic Policy Analysis, The New School. He is a regular contributor to The New York Review of Books, and a former economics columnist for The New York Times.
He is the author of several books, including Taking America (Bantam), and The End of Affluence (Random House), both of which were New York Times Notable Books of the Year. Taking America was also chosen by Business Week as one of the ten best books of the year. His most recent book is Why Economies Grow (Basic Books).
He has served as a policy consultant for Sen. Edward M. Kennedy, and other U.S. legislators. He has written for many other publications, including The Washington Post, The Los Angeles Times, Institutional Investor, The Nation, American Prospect, The Boston Globe, Newsday, and the business, op-ed, and magazine sections of The New York Times. He has appeared on Charlie Rose, The Lehrer News Hour, Now With Bill Moyers, Frontline,, CNN, CNBC, CBS, and NPR. He was formerly finance editor of Business Week Magazine and an NBC News reporter and commentator.
His awards include an Emmy and a Page One Award. He was educated at New York University and Harvard University, and was a Shorenstein Fellow at Harvard.
Bethany McLean is an editor at large at Vanity Fair and a business columnist at Slate. She is the co-author, with New York Times business columnist Joe Nocera, of All the Devils Are Here: The Hidden History of the Financial Crisis, a Times best-seller which traces the origins of the Great Recession back several decades.
McLean worked at Goldman Sachs for three years as an analyst in the investment banking division before joining Fortune in 1995. While at Fortune,
where she’d eventually become an editor-at-large, McLean wrote an
article for the magazine in 2001 that raised questions about the
profitability of Enron, then a darling of the stockmarket. In 2003 she
co-wrote a book about the scandal that led to the energy company’s
collapse, The Smartest Guys in the Room. It was developed into
an Oscar-nominated documentary in 2005 and was a Chautauqua Literary
& Scientific Circle selection in 2004.
McLean has appeared on “The Daily Show,” “The Colbert Report” and
several PBS programs. She graduated from Williams with a double major in
math and English.
Raghuram Rajan is the Eric J. Gleacher Distinguished Service Professor of Finance at the University of Chicago's Booth School of Business.
Dr. Rajan is also currently an economic advisor to the Prime Minister of India. Prior to resuming teaching in 2007, Dr. Rajan was the Economic Counselor and Director of Research (in plain English, the Chief Economist) at the International Monetary Fund (from 2003).
Since then, he has chaired the Indian government's Committee on Financial Sector Reforms, which submitted its report in September 2008.
Dr. Rajan's research interests are in banking, corporate finance, and economic development, especially the role finance plays in it. His papers have been published in all the top economics and finance journals, and he has served on the editorial board of the American Economic Review and the Journal of Finance. He has also written a book with Luigi Zingales entitled Saving Capitalism from the Capitalists. He is currently at work on a book entitled Fault Lines: How Hidden Cracks Still Threaten the World Economy.
Dr. Rajan is a senior advisor to Booz and Co, on the academic advisory board of Moodys, and on the international advisory board of Bank Itau-Unibanco. He is a director of the Chicago Council on Global Affairs and on the Comptroller General of the United State's Advisory Council. Dr. Rajan is the current Vice President of the American Finance Association and a member of the American Academy of Arts and Sciences. In January 2003, the American Finance Association awarded Dr. Rajan the inaugural Fischer Black Prize, given every two years to the financial economist under age 40 who has made the most significant contribution to the theory and practice of finance.
James A. Robinson
James Robinson is David Florence Professor of Government at Harvard University and a faculty associate at the Institute for Quantitative Social Science and the Weatherhead Center for International Affairs. He studied economics at the London School of Economics, the University of Warwick and Yale University. He previously taught in the Department of Economics at the University of Melbourne, the University of Southern California and before moving to Harvard was a Professor in the Departments of Economics and Political Science at the University of California at Berkeley. His main research interests are in comparative economic and political development with a focus on the long-run with a particular interest in Latin America and Sub-Saharan Africa. He is currently conducting research in the Democratic Republic of the Congo, Sierra Leone, Haiti and in Colombia where he has taught for many years during the summer at the University of the Andes in Bogotá.
Professor Robinson is a member of the Canadian Institute for Advanced Research's program on Institutions, Organizations and Growth .
Jeffrey Sachs is the Director of the Earth Institute at Columbia University. Since 2010 he has also served as a Commissioner for the Broadband Commission for Digital Development which leverages broadband technologies as a key enabler for social and economic development. He has authored Common Wealth: Economics for a Crowded Planet.
Originally one of the youngest economics professors in the history of Harvard University, Sachs became renowned for implementing economic shock therapy throughout the developing world, and subsequently for his work on the challenges of economic development, environmental sustainability, poverty alleviation, debt cancellation, and globalization.
David Scobey, executive dean of The New School for Public Engagement and a national leader in developing innovative methods to bring higher-education institutions together with communities to explore the arts, humanities, and design. Scobey is the author of Empire City: The Making and Meaning of the New York City Landscape and other studies of politics, culture, and space in 19th-century America.
Robert Solow is the Institute Professor Emeritus of Economics at MIT and a Nobel Prize Winner.
Mr Wolf was joint winner of the Wincott Foundation senior prize for excellence in financial journalism for 1989 and again for 1997. He is one of only two British journalists to have won this prize twice since its establishment in 1970. He also won the RTZ David Watt memorial prize for 1994. This prize is granted annually "to a writer judged to have made an outstanding contribution in the English language towards the clarification of national, international and political issues and the promotion of their greater understanding". The prize-winning article celebrated the 50th anniversary of the Bretton Woods conference. At the 2003 Business Journalist of the Year Awards, he won the Decade of Excellence Award. In 1971, Mr Wolf joined the World Bank as a Young Professional. He was Senior Economist in the India Division between 1974 and 1977 and a member of the core team for the first World Development Report in 1977-78. Between 1979 and 1981, he was a Senior Economist in the World Bank's Division for International Trade. In 1981 Mr Wolf joined the Trade Policy Research Centre, London, as Director of Studies. In 1987 he joined The Financial Times as Chief Economics Leader Writer. He was promoted Associate Editor in 1990 and Chief Economics Commentator in 1996. In this position, he writes a weekly column on the world economy and a fortnightly column on the UK. Mr Wolf was a member of the Council of the Royal Economic Society between 1991 and 1996, of the National Consumer Council between 1967 and 1973, and of the Awards Committee of the American Express Bank Review essay competition in memory of Robert Marjolin in 1994. Mr Wolf served as adviser and rapporteur to the Eminent Persons Group on World Trade in 1990 and was principal author of its report, "Meeting the World Trade Deadline: Path to a Successful Uruguay Round". He was awarded the New Zealand 1990 Commemoration Medal for his work for the Group. On April 25 2001, Mr Wolf delivered the invited Orwell Lecture on "Nation, State and Globalisation", at Birkbeck College, London University.
Mr Wolf is also a member of the Advisory Board on European Economic Integration at the Faculty of Economics at Erasmus University, Rotterdam. He has been a Forum Fellow at the annual meeting of the World Economic Forum, in Davos, since 1999.