Glenn Hubbard | |
---|---|
15th Dean of Columbia Business School | |
In office July 1, 2004 –July 1, 2019 | |
Preceded by | Meyer Feldberg |
Succeeded by | Costis Maglaras |
20th Chair of the Council of Economic Advisers | |
In office May 11,2001 –February 28,2003 | |
President | George W. Bush |
Preceded by | Martin Baily |
Succeeded by | Greg Mankiw |
Personal details | |
Born | Robert Glenn Hubbard September 4,1958 Orlando,Florida,U.S. |
Political party | Republican |
Education | University of Central Florida (BA,BS) Harvard University (MA,PhD) |
Signature | |
Website | Official website |
Academic career | |
Field | Public economics Corporate finance Financial institutions Macroeconomics Industrial organization Natural resource economics Public policy |
School or tradition | Supply-side economics |
Doctoral advisor | Benjamin M. Friedman [1] Jerry A. Hausman [1] Martin Feldstein [1] |
Information at IDEAS / RePEc | |
Robert Glenn Hubbard (born September 4,1958) is an American economist and academic. He served as the Dean of the Columbia University Graduate School of Business from 2004 to 2019,where he remains the Russell L. Carson Professor of Finance and Economics. [2] On September 13,2018,he announced that he would retire from his position after his contract expired on June 30,2019. Hubbard previously served as Deputy Assistant Secretary at the U.S. Department of the Treasury from 1991 to 1993,and as Chairman of the Council of Economic Advisers from 2001 to 2003.
Hubbard is a visiting scholar at the conservative American Enterprise Institute,where he studies tax policy and health care. [3] He was criticized for his reports and papers on deregulation during the 2008 banking crisis. He was also heavily criticized in the documentary Inside Job about the credit default swap scams that led to the world financial collapse in 2008.
Born September 4,1958,Hubbard was raised in Apopka,Florida,a suburb of Orlando,Florida. His father taught at a local community college and his mother taught at a high school. Hubbard's younger brother,Gregg,is a member of the country-pop band Sawyer Brown. [4]
Hubbard is an Eagle Scout. A member of the chess team,he graduated at the top of his class. He scored well enough on his College Level Examination Program to enter the University of Central Florida with enough credits to graduate with two degrees in three years. He obtained his B.A. and B.S. degrees summa cum laude from the University of Central Florida in 1979,and his masters and PhD in economics from Harvard University in 1983. [4]
Hubbard has been at Columbia University since 1988,being Russell L. Carson Professor of Finance and Economics since 1994. [5]
He was named Dean of Columbia Business School on July 1,2004. During his tenure,the construction of the 11-story Henry R. Kravis Hall was launched. [6]
Hubbard was Deputy Assistant Secretary at the U.S. Department of the Treasury from 1991 to 1993. [3]
From February 2001 until March 2003,Hubbard was chairman of the Council of Economic Advisors under President George W. Bush. A supply-side economist,he was instrumental in the design of the 2003 Bush Tax cuts. [7]
He was tipped by some media outlets to be a candidate for the position of Chairman of the Federal Reserve when Alan Greenspan retired,although he was not nominated for the position. [7]
Hubbard served as economic advisor to the 2012 presidential campaign of Mitt Romney, [8] a position he also held during Romney's 2008 presidential campaign. [9] In August 2012, Politico identified Hubbard as "a likely Romney appointee as Federal Reserve chairman or Treasury secretary". [10] [11]
Hubbard was an economic advisor for the Jeb Bush 2016 presidential campaign. [11] [12] [13] [14] [15] After Donald Trump became the presumptive Republican nominee,Hubbard was mentioned as a potential Treasury secretary (which eventually went to Steven Mnuchin), [16] [13] and also as a potential Fed chair,a role expected to become open in February 2018. [17] [16] Hubbard had been critical of both Trump and Democratic presidential candidate Hillary Clinton,including after Bush had suspended his campaign. [18] [19] [20] [21] [22] In August 2016,Hubbard declined to say which candidate he supported in the general election, [23] but did say that Trump's taxation plans and their impact on economic growth were in a "direction" somewhat better than Clinton's plans. [24] Hubbard criticized Trump's plans on trade and immigration for their predicted economic impact. [25]
Hubbard serves as co-chair of the Committee on Capital Markets Regulation.
Hubbard is a member of the Board of Directors of Automatic Data Processing,Inc.,BlackRock Closed-End Funds,Capmark Financial Corporation,Duke Realty Corporation,KKR Financial Corporation,The TIFIN Group LLC and Ripplewood Holdings. He is also a Director or Trustee of the Economic Club of New York,Tax Foundation,Resources for the Future,Manhattan Council and Fifth Avenue Presbyterian Church,New York,and a member of the Advisory Board of the National Center on Addiction and Substance Abuse... Director of MetLife and Metropolitan Life Insurance Company since February 2007. [5]
Hubbard is currently a board member of:
On January 8,2019,he was appointed to become MetLife's non-executive chairman of the board as of May 1,2019,upon the retirement of Steven A. Kandarian. [29]
Hubbard was interviewed in Charles Ferguson's Oscar-winning documentary film, Inside Job (2010),discussing his advocacy,as chief economic advisor to the Bush administration,of deregulation. Ferguson argues that deregulation led to the 2008 international banking crisis sparked by the collapse of Lehman Brothers and the sale of Merrill Lynch. In the interview,Ferguson asks Hubbard to enumerate the firms from whom he receives outside income as an advisory board member in the context of possible conflict of interest. Hubbard,hitherto cooperative,declines to answer and threatens to end the interview with the remark,"You have three more minutes;give it your best shot." [30] After the release of the film,Columbia ramped up ongoing efforts to strengthen and clarify their conflict of interest disclosure requirements. [31]
Hubbard is the author of a number of economic and socioeconomic texts,with a focus on deregulation,conservative fiscal policy and taxation. In 2009,he wrote and published The Aid Trap with economist William Duggan Columbia University Press,criticizing the aid system provided by NGOs in western countries as preventing internal growth in poorer nations. [32] In 2013,he published Balance with former intelligence officer and economist Tim Kane. [33]
Hubbard is also frequently featured in skits by Columbia Business School's "Follies" group,ranging from videos of him monitoring students on classroom video cameras [34] to songs about his relationship with presidential candidate Mitt Romney. [35] Hubbard has also publicized his dissatisfaction with Ben Bernanke's nomination as Chair of the Federal Reserve with his comedic YouTube parody of The Police's "Every Breath You Take",titled "Every Breath Bernanke Takes". [36]
Paul Davis Ryan is an American politician who served as the 54th speaker of the United States House of Representatives from 2015 to 2019. A member of the Republican Party,he was the vice presidential nominee in the 2012 election with Mitt Romney,but they lost to incumbent President Barack Obama and Vice President Joe Biden.
Nicholas Gregory Mankiw is an American macroeconomist who is currently the Robert M. Beren Professor of Economics at Harvard University. Mankiw is best known in academia for his work on New Keynesian economics.
Robert Bruce Zoellick is an American public official and lawyer who was the 11th president of the World Bank Group,a position he held from July 1,2007,to June 30,2012. He was previously a managing director of Goldman Sachs,United States Deputy Secretary of State and U.S. Trade Representative,from February 7,2001,until February 22,2005. Zoellick has been a senior fellow at Harvard's Belfer Center for Science and International Affairs since ending his term with the World Bank. He is currently a Senior Counselor at Brunswick Group.
Martin Stuart Feldstein was an American economist. He was the George F. Baker Professor of Economics at Harvard University and the president emeritus of the National Bureau of Economic Research (NBER). He served as president and chief executive officer of the NBER from 1978 to 2008. From 1982 to 1984,Feldstein served as chairman of the Council of Economic Advisers and as chief economic advisor to President Ronald Reagan. Feldstein was also a member of the Washington-based financial advisory body the Group of Thirty from 2003.
Jon Meade Huntsman Jr. is an American businessman,diplomat,and politician who served as the 16th governor of Utah from 2005 to 2009. A member of the Republican Party,he served as the ambassador of the United States to Russia from 2017 to 2019,ambassador to China from 2009 to 2011,and ambassador to Singapore from 1992 to 1993.
Lawrence B. Lindsey is an American economist and author. He was director of the National Economic Council (2001–2002),and the assistant to the president on economic policy for George W. Bush. Lindsey previously served as a member of the Federal Reserve Board of Governors from 1991 to 1997,nominated to position by President George H. W. Bush. During his time with George W. Bush administration he played a leading role in formulating President Bush's $1.35 trillion tax cut plan,convincing candidate Bush that he needed an "insurance policy" against an economic downturn. He left the White House in December 2002 and was replaced by Stephen Friedman after a dispute over the projected cost of the Iraq War. Lindsey estimated the cost of the Iraq War could reach $200 billion,while Defense Secretary Donald Rumsfeld estimated that it would cost less than $50 billion. The overall cost of the Iraq War has been estimated by the Congressional Budget Office to be approximately $2.4 Trillion.
Stephen Moore is an American conservative writer and television commentator on economic issues. He co-founded and served as president of the Club for Growth from 1999 to 2004. Moore is a former member of the Wall Street Journal editorial board. He worked at The Heritage Foundation from 1983 to 1987 and again since 2014. Moore advised Herman Cain's 2012 presidential campaign and Donald Trump's 2016 presidential campaign.
Kevin Maxwell Warsh is an American financier and bank executive who served as a member of the Federal Reserve Board of Governors from 2006 to 2011.
Peter Kent Navarro is an American economist who served in the Trump administration,first as Deputy Assistant to the President and director of the short-lived White House National Trade Council,then as Assistant to the President,Director of Trade and Manufacturing Policy in the new Office of Trade and Manufacturing Policy;he was also named the national Defense Production Act policy coordinator. He is a professor emeritus of economics and public policy at the Paul Merage School of Business,University of California,Irvine,and the author of Death by China,among other publications. Navarro ran unsuccessfully for office in San Diego,California,five times. Navarro,who sought to overturn the 2020 presidential election,is the only former White House official ever imprisoned on a contempt-of-Congress conviction.
Kevin Allen Hassett is an American economist who is a former Senior Advisor and Chairman of the Council of Economic Advisers in the Trump administration from 2017 to 2019. He has written several books and coauthored Dow 36,000,published in 1999,which argued that the stock market was about to have a massive swing upward and would reach 36,000 by 2004. Shortly thereafter,the dot-com bubble burst,causing a massive decline in stock market prices. The Dow finally did reach 36,000 as the Covid pandemic receded in late 2021.
Tomas J. Philipson is a Swedish-born American economist who served as the Acting Chairman of the Council of Economic Advisers in the Trump administration. He departed from the position and the Council at the end of June,2020,to return to the University of Chicago. He holds the Daniel Levin Chair in Public Policy at the University of Chicago,with posts in the Harris School of Public Policy Studies,Department of Economics,and the Law School. He was a Director of the Becker Friedman Institute at the university.
Jason Furman is an American economist and professor at Harvard University's John F. Kennedy School of Government and a nonresident senior fellow at the Peterson Institute for International Economics. On June 10,2013,Furman was named by President Barack Obama as chair of the Council of Economic Advisers (CEA). Furman has also served as the deputy director of the U.S. National Economic Council,which followed his role as an advisor for the Barack Obama 2008 presidential campaign.
Lawrence Alan Kudlow is an American conservative broadcast news analyst,columnist,journalist,political commentator,and radio personality. He is a financial news commentator for Fox Business and served as the Director of the National Economic Council during the Trump Administration from 2018 to 2021. He assumed that role after his previous employment as a CNBC television financial news host.
Presidential primaries and caucuses of the Republican Party took place within all 50 U.S. states,the District of Columbia,and five U.S. territories between February 1 and June 7,2016. These elections selected the 2,472 delegates that were sent to the Republican National Convention. Businessman and reality television personality Donald Trump won the Republican nomination for president of the United States.
The 2016 presidential campaign of Donald Trump was formally launched on June 16,2015,at Trump Tower in New York City. Trump was the Republican nominee for President of the United States in the 2016 election,having won the most state primaries,caucuses,and delegates at the 2016 Republican National Convention. He chose Mike Pence,the sitting governor of Indiana,as his vice presidential running mate. On November 8,2016,Trump and Pence were elected president and vice president of the United States. Trump's populist positions in opposition to illegal immigration and various trade agreements,such as the Trans-Pacific Partnership,earned him support especially among voters who were male,white,blue-collar,working class,and those without college degrees. Many voters in the Rust Belt,who gave Trump the electoral votes needed to win the presidency,switched from supporting Bernie Sanders to Trump after Hillary Clinton won the Democratic nomination.
On March 3,2016,U.S. Republican politician Mitt Romney delivered a major speech for the Hinckley Institute of Politics at the Libby Gardner Hall in the University of Utah. In that speech,he denounced Donald Trump,who was then the front-runner in the 2016 Republican Party presidential primaries. He urged citizens to use tactical voting in the remaining primaries and caucuses to maximize the chance of denying Trump a delegate majority.
Planning for the presidential transition of Donald Trump,led by then vice president-elect,former governor Mike Pence of Indiana,began before Donald Trump won the United States presidential election on November 8,2016,and became the president-elect. Trump was formally elected by the Electoral College on December 19,2016. The transition was formerly led by Chris Christie until he and a number of his supporters were replaced or demoted on November 11. The results were certified by a joint session of Congress on January 6,2017,and the transition ended when Trump was inaugurated at noon EST on January 20,2017.
William Francis Hagerty IV is an American politician,businessman,and diplomat serving as the junior United States senator from Tennessee since 2021. A member of the Republican Party,he served as the 30th United States ambassador to Japan from 2017 to 2019 under President Donald Trump.
From 2017 through 2021,Donald Trump was the 45th president of the United States;he is the only American president to have no political or military service prior to his presidency,as well as the first to be charged with a felony after leaving office. He is regarded by historians as one of the worst presidents in U.S. history.
Those ECHO 360 cameras in every room at CBS aren't just recording lectures so you can skip class on Jewish holidays. They're Hubbard's eyes and ears. He's watching you.
From the Columbia Business School Follies Spring 2012 Show