John A. Paulson, president of Paulson & Co. Inc., NYU Trustee and NYU Stern Overseer (left), in conversation with Dr. Alan Greenspan, former chairman of the US Federal Reserve (middle), and Lord Mervyn King (right) at NYU Stern School of Business
On November 14, NYU Stern hosted the last installment of the year of the "In Conversation with Lord Mervyn King" series featuring two renowned alumni -- Dr. Alan Greenspan (BS ’48, MA ’50, PhD ’77, Honorary Doctorate of Commercial Science ’05), former chairman of the US Federal Reserve, and John A. Paulson (BS ’78), president of Paulson & Co. Inc., NYU Trustee and member of NYU Stern’s Board of Overseers.
After welcome remarks from NYU Stern Dean Raghu Sundaram, Paulson posed questions to both Lord King and Dr. Greenspan for their perspective as former central bankers.
The conversation covered a variety of timely topics related to the US and world economies such as rising inflation, the stability of the euro area, recessions, entitlement spending and the impact of the Brexit vote on the UK.
In discussing Brexit, Lord King highlighted that the campaign brought two main issues to the forefront: the loss of national sovereignty and the policies surrounding immigration. While he said he did not believe it would have a major impact on Britain’s economy, he emphasized the central bank’s largest challenge: explaining decisions in a way that people will understand and with empathy.
The night concluded with questions from the audience in which Dr. Greenspan spoke about his new co-authored book, Capitalism in America: A History, and revealed the one person he would have loved to meet--Alexander Hamilton.
Watch the full discussion and see a selection of social media posts below:
The video can also be accessed here.
“The challenge of the central bank is to explain things in a way people will understand, but to do it in a way that’s based on empathy.” - former Governor of the Bank of England & #NYUStern Prof Mervyn King #GreenspanAtStern #PaulsonAtStern pic.twitter.com/eg6a547VIH— NYU Stern (@NYUStern) November 14, 2018
“It works because France and Germany, by themselves, are essentially running the system” - Dr. Alan Greenspan, former chairman of the Federal Reserve, discusses the Euro. #GreenspanAtStern pic.twitter.com/vXCq3JZPOA— NYU Stern (@NYUStern) November 14, 2018
“Pensions are a form of saving. You should get back what you ultimately put in, but if you get more than that, it creates a problem for future generations” - John Paulson, president of Paulson & Co. Inc., @nyuniversity trustee and #NYUStern overseer #PaulsonAtStern pic.twitter.com/BxRZHUzYeP— NYU Stern (@NYUStern) November 14, 2018
Insightful discussion this evening with John Paulson, Dr. Alan Greenspan, and Mervyn King at NYU Stern— Vince F (@vinviper) November 15, 2018
"America should look to Sweden to solve its looming entitlement problems..." - Dr. Greenspan @NYUStern #heavyhitters pic.twitter.com/4afsM9SdYA