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The United States and the Global Economy

THE PUBLIC GOOD: Knowledge as the Foundation for a Democratic Society

Saturday Afternoon, April 28, 2007

Click here for audio of complete panel (55 min.) Click speaker names for individual audio.

Introduction: John S. Reed (2 min.) served as Chair of the New York Stock Exchange and retired in 2000 as Chair and Chief Executive Officer of Citigroup, Inc., a company founded by the merger of Citicorp and Travelers Group in 1998. In his thirty-five-year business career, he was also Chair and Chief Executive Officer of Citigroup’s subsidiaries, Citicorp and Citibank. He serves on the boards of the Center for Advanced Study in the Behavioral Sciences in Palo Alto, the Spencer Foundation in Chicago, and the RAND Corporation. He is also a member of the American Philosophical Society, the MIT Corporation, and the board of Altria Group, Inc. He is a Fellow of the American Academy of Arts & Sciences and serves as its Treasurer and Chair of its Investment Committee.
Chair: Robert M. Solow (3 min.) is Institute Professor Emeritus at the Massachusetts Institute of Technology. He was awarded the Nobel Prize in Economics in 1987 in recognition of his contributions to the theory of economic growth and received the National Medal of Science in 1999 for his creation of the modern framework for analyzing the effects of investment and technological progress on economic growth. His publications include Capital Theory and the Rate of Return; The Nature and Sources of Unemployment in the United States; Growth Theory; The Labor Market as a Social Institution; Learning from “Learning by Doing”: Lessons for Economic Growth; Work and Welfare; and Inflation, Unemployment and Monetary Policy. He is a member of the American Philosophical Society and a Fellow of the American Academy of Arts & Sciences.
Panelists: Pedro Aspe (14 min.) is Co-Chairman of Evercore Partners, a leading investment banking boutique in the United States and Chief Executive Offcer of Protego, headquartered in Mexico City. He has been a Professor of Economics at ITAM and has held a number of positions with the Mexican government: founder of the National Bureau of Statistics, Secretary of Budget, and Secretary of the Treasury. Currently he is a director of the McGraw Hill Companies, the Carnegie Corporation, Televisa, and Xignux. He is a member of the Advisory Board of Stanford University’s Institute of International Studies, the Visiting Committee of the Department of Economics at MIT, CIDE, Marvin & Palmer, and Endeavor- Mexico, and he chairs the Advisory Board of MG Capital. Since 2005 he has also been the Chairman of Volaris.
  Edward P. Lazear (17 min.) became Chairman of the Council of Economic Advisors in February 2006. He is currently on a leave of absence from Stanford University, where he is Jack Steele Parker Professor of Human Resources Management in Economics and the Morris Arnold Cox Senior Fellow at the Hoover Institution. Author of more than one hundred published papers, he was honored with the 1998 Leo Melamed Biennial Prize for outstanding research, the 2003 Adam Smith Prize from the European Association of Labor Economists, the IZA Prize in Labor Economics from the Institute for the Study of Labor in Bonn, and the Society of Labor Economist’s Mincer Prize. He is a Fellow of the American Academy of Arts & Sciences.
   Janet Yellen (19 min.) is President and Chief Executive Officer of the Federal Reserve Bank of San Francisco and Professor Emeritus at the University of California, Berkeley, where she was the Eugene E. and Catherine M. Trefethen Professor of Business and Professor of Economics. Former Chair of the Council of Economic Advisers (1997–1999) and member of the Board of Governors of the Federal Reserve System (1994–1997), she has written on a wide variety of macroeconomic issues, while specializing in the causes, mechanisms, and implications of unemployment. She is a Fellow of the American Academy of Arts & Sciences, a member of the Council on Foreign Relations, and serves on the board of directors of the Pacific Council on International Policy.

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