Globalization, the domestic transition to a services economy, and the emergence of new labor across the globe has led to unprecedented global economic growth. This transition came at a cost, however, leaving many out of this prosperity with stagnating median wages and fewer job opportunities. Some economists argue these painful transition costs will be naturally repaired over time as the prosperity brought about by global markets leads to new opportunities. Other scholars and political leaders argue for protectionism; an attempt to reverse course by barricading America from global markets through policy "walls" such as tariffs.Is there a way to secure a brighter future for those left behind in the global economy without forsaking the benefits?
Columbia University's Russell L. Carson professor of finance and economics, Glenn Hubbard, in his recent book the Wall and the Bridge, argues that the United States can make gains from a globalized economy while building bridges to include more citizens in this prosperity at home. Adam Smith Society Young Leaders hosted Professor Hubbard for a conversation on November 1 at 6:30 p.m. in New York City to address these timely questions.
This event was open to Young Leader supporters of the Adam Smith Society. Learn more or contact email@example.com.
Glenn Hubbard is Director, Jerome A. Chazen Institute for Global Business, dean emeritus, and Russell L. Carson Professor of Finance and Economics at Columbia Business School. From 2001 until 2003, he was chairman of the U.S. Council of Economic Advisers. In the corporate sector, he is on the boards of ADP, BlackRock Fixed Income Funds, and MetLife (where he is chair). Hubbard is co-chair of the Committee on Capital Markets Regulation; he is a past chair of the Economic Club of New York and a past co-chair of the Study Group on Corporate Boards. Hubbard received his BA and BS degrees summa cum laude from the University of Central Florida and also holds AM and PhD degrees in economics from Harvard University. In addition to writing more than 100 scholarly articles in economics and finance, Glenn is the author of three popular textbooks. His commentaries appear in Businessweek, The Wall Street Journal, The New York Times, the Financial Times, The Washington Post, and Nikkei as well as on television and radio.