Breakfast with Hubbard, Dinner with Sachs
Only Columbia University allows you to discuss Africa over breakfast with Glenn Hubbard, former treasury secretary, on the same day that you attend an evening reception about the continent with Jeffrey Sachs, head of the Earth Institute.
These two intellectuals hold what Hubbard described to me as "diametrically opposed" viewpoints regarding development in Africa. Yet both described the need for greater investment and foreign aid to the continent. Both called for an increased role of business in providing services and employment. And both expressed a very sincere desire to use their considerable resources make a difference in people's lives in African countries.
Hubbard told me that he and Business School Professor Bill Duggan are working on a "Marshall Plan for Africa," a call for foreign aid to be channeled to businesses rather than governments. Sachs described very succesful efforts to get large corporations to invest in Africa, even if it means accepting a lower rate of a return than is expected from other regions. Clearly these are not diametrically opposed views.
Yet both of these world-reknowned economists stubbornly cling to the view that there exists no common ground between them. It's a shame to have two great minds in such close proximity who refuse to work together toward a shared goal.
Labels: Africa, hubbard, International Development, sachs
posted by Ryan Petersen @ 8:27 PM
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