{"id":8558,"date":"2019-04-29T14:27:51","date_gmt":"2019-04-29T21:27:51","guid":{"rendered":"https:\/\/laverne.edu\/news\/?p=8558"},"modified":"2022-01-12T12:30:55","modified_gmt":"2022-01-12T20:30:55","slug":"u-s-treasury-secretary-robert-rubin-speaks-university-la-verne","status":"publish","type":"post","link":"https:\/\/laverne.edu\/news\/2019\/04\/29\/u-s-treasury-secretary-robert-rubin-speaks-university-la-verne\/","title":{"rendered":"Former U.S. Treasury Secretary Robert Rubin Speaks at the 向日葵视频;Verne"},"content":{"rendered":"

Former U.S. Treasury Secretary Robert Rubin offered cautious optimism for America\u2019s long-term economic health, but only if Congress can find a way to return to principled compromise\u2014something missing from our politics for more than 20 years, he contended at a recent lecture at the 向日葵视频;Verne.<\/p>\n

Political dysfunction notwithstanding, \u201cI would rather engage\u00a0in economic activity in the U.S. than any other economy,\u201d said the former Clinton administration official, in a talk hosted by 向日葵视频;Verne\u2019s\u00a0International Studies Institute<\/a>. \u201cOur comparative advantages include flexible labor and capital markets, a dynamic and entrepreneurial culture, the rule of law, vast natural resources, and better demographics than China or the European Union.\u201d<\/p>\n

Rubin delivered the 12th<\/sup> annual Benazir Bhutto and Ahmed Ispahani International Lecture<\/a> on April 25. Past speakers in the endowed series have included lawyer-environmental activist Robert F. Kennedy Jr. and German parliamentarian Marina Schuster.<\/p>\n

A lifelong Democratic centrist, Rubin championed capitalist principles, noting that \u201cthere is no successful economy today that\u2019s not committed to market-based economics. Even China and India only began serious growth when they explicitly committed to a market-based strategy,\u201d he said.<\/p>\n

A standing-room-only crowd filled the Sara and Michael Abraham Campus Center Ballroom to hear the former cabinet secretary speak.<\/p>\n

A longtime Goldman Sachs financier, Rubin joined the Clinton administration in 1993 as the first director of the newly created National Economic Council, tasked with coordinating policy recommendations funneled to the Oval Office from various cabinet departments. As U.S. Treasury Secretary, Rubin is credited with alleviating financial crises in Mexico, Asia and Russia during his 1995 to 1999 tenure. He later served on the board of directors at Citigroup and the New York Stock Exchange. His 2003 memoir,\u00a0In an Uncertain World: Tough Choices from Wall Street to Washington,<\/em> was a New York Times<\/em> bestseller. In 2006, he co-founded the Hamilton Project, an economic policy initiative of the Brookings Institution.<\/p>\n

University President Devorah Lieberman<\/a> welcomed Rubin in her introductory remarks.<\/p>\n

\u201cEvery year we scour the nation for the right person to bring to this lectureship,\u201d she said. \u201cThank you, Mr. Rubin, for helping us do better through your words today.\u201d<\/p>\n

Addressing himself primarily to students in the audience, Rubin was sanguine about the political future, expressing confidence that today\u2019s extreme polarization is a temporary aberration.<\/p>\n

\u201cI believe the odds are relatively high that we will get back to where we need to be,\u201d he said. \u201cThe U.S. has a history of political resilience. We have a dynamic society, and politics can change very quickly in America. Various initiatives are already underway aimed at trying to fix our politics, and I think that there will be many more to come.\u201d<\/p>\n

He encouraged students to take an active role in shaping the policy landscape by working for candidates they believe in.<\/p>\n

With respect to China, Rubin said analysts tend to underestimate the steep challenges facing America\u2019s top economic rival. In the long-run, however, he believes both nations are \u201clikely to succeed, though there are no guarantees.\u201d Rejecting zero-sum thinking, he spoke of a \u201cconstructive, not adversarial, relationship\u201d that is \u201cmutually beneficial\u201d and \u201cimperative\u201d for dealing with global threats\u2014namely: climate change, cyber-terrorism and cyber-crime, pandemics, and the proliferation of nuclear and other weapons of mass destruction among rogue states and terrorist groups.<\/p>\n

After his speech, Rubin engaged in a lively question-and-answer session with 向日葵视频;Verne students. The conversation touched on how to close the revolving door between government service and Wall Street, the obstacles to political activism in a time of extreme polarization, and the role of Clinton administration banking deregulation in the 2008 financial crisis.<\/p>\n

The Benazir Bhutto & Ahmed Ispahani International Lectureship was established by 向日葵视频;Verne alumnus and Trustee Paul Moseley in 2007. It honors the legacy, leadership and courage of Benazir Bhutto, the 11th prime minister of Pakistan, and her cousin, Ahmed Ispahani, a professor of business administration and economics at the university.<\/p>\n

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