Wharton Business Radio

Knowledge@Wharton: April 9, 2019

Today on Knowledge@Wharton …last September, President Trump championed the updated regional trade deal between the United States, Canada and Mexico, which was supposed to replace the North American Free Trade Agreement. The USMCA plan is to oversee more than $1 trillion in regional trade, but the deal has not yet been ratified by congress. And there are growing questions about some of the elements of the deal, including some of the labor provisions as well the fight over tariffs. If these delays continue, the USMCA could also fall victim to election politics as the U.S. has a Presidential election in 2020 and Canadian elections are scheduled for this October. But the delays present issues for businesses and add a level of uncertainty which may hinder economic growth in all three countries. Joining us with more on this is MATT GOLD, Adjunct Professor of Law at Fordham University and a former Deputy Assistant U.S. Trade Representative for North America, and JONATHAN DOH, Professor of International Business at Villanova University and a former US Commerce Department official who worked on the original NAFTA under Presidents George H.W. Bush and William Clinton.

Then, self-mastery and personal optimization are virtues celebrated by the Silicon Valley executives and look back to a Greek philosophy – Stoicism – for inspiration. Engaging in cold showers, austere diets and mediation are all tenets of this modern, ancient expression. Our guest DONALD ROBERTSON looks at how the Roman history offers us lessons for the ethical and psychological challenges we face today in his new book How To Think Like A Roman Emperor: The Stoic Philosophy of Marcus Aurelius. Robertson studies why this leader’s reign lasted so long – examining how he kept personal journals, his meditations, of getting through difficult situations. His practice of Stoicism meant calmly accepting that some things are outside of one’s own control and this guided his battles against other military commanders, and believed in preparing for success or failure. ROBERTSON is a cognitive behavior psychotherapist and founding member of the non-profit organization Modern Stoicism.

Next, the Federal Reserve has been long been viewed as one of the few non-partisan and independent parts of Washington, DC. It was integral to the U.S. economic recovery after The Great Recession and has been requiring banks to submit “living wills,” plans for their closure during another economic crisis. But President Trump has been pushing the Fed in ways some fear might change it into a political tool. He’s railed against its decision to raise interest rates, pushed it to ease pressure on the banks, and reportedly privately looked into whether he can fire Fed Chair Jerome Powell. Now he is pursuing placing political allies on the Federal Reserve board, including former Presidential candidate and pizza chain CEO Herman Cain and conservative economic commentator Stephen Moore, arguably unconventional choices for the positions. With more on the future of the U.S. central bank, we are joined by PETER CONTI BROWN, Assistant Professor of Legal Studies and Business Ethics at the Wharton school, and LISA COOK, Associate Professor of Economics and International Relations at Michigan State University.

Finally, more than a dozen parents involved in the College Admission Scandal have agreed to plead guilty to conspiracy to commit mail fraud and honest services mail fraud. Fifty people were charged last month by the Justice Department in a wide-ranging scheme to get students into elite colleges by cheating on standardized tests and bribing college coaches to recruit their kids as athletes. One of the most visible names in the fraud case is actress Felicity Huffman (of “Desperate Housewives” fame), who paid college consultant Rick Singer, the masterminded of this scam, $15,000 for her oldest daughter. The other noteworthy actress, Lori Loughlin (of “Full House” and “Fuller House”), has reportedly not come to any agreement with prosecutors. Some of the kids involved have already been denied admission to schools or been forced to leave academic institutions.  And the case is having significant repercussions for college admissions and what’s behind how kids get into an elite school. Joining us to discuss the latest are JOSEPH SOARES, Professor and Chair of the Department of Sociology at Wake Forest University, and STEPHEN SUGARMAN, Law Professor at the University of California-Berkeley.

Air Date: Tuesday, April 9, 2019 on SiriusXM 132

Hosted By

Matt Gold and Jonathan Doh

Air Time: 10:00 am
Featuring: Jonathan Doh, Matt Gold

Donald Robertson

Air Time: 10:30 am
Featuring: Donald Robertson

Peter Conti-Brown and Lisa Cook

Air Time: 11:00 am
Featuring: Peter Conti-Brown, Lisa Cook Ph.D.

Joseph Soares and Stephen Sugarman

Air Time: 11:30 am
Featuring: Joseph A. Soares, Stephen Sugarman

Featured Guests

Joseph A. Soares

Professor and Chair of the Department of Sociology, Wake Forest University

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Joseph A. Soares is a Professor of Sociology at Wake Forest University.  His book The Power of Privilege (Stanford University Press 2007) was instrumental to Wake Forest’s decision to go test-optional in admissions.  He organized a national conference on “rethinking admissions” at Wake Forest in April 2009, involving admissions deans and researcher from many universities including Berkeley, Duke, Georgia, Harvard, Howard, Texas, Virginia, and Yale.  Dr. Soares has presented his critical findings on standardized tests and college admissions at regional and national conferences of the Association of College Counselors in Independent Schools, the College Board, the Southern Association for College Admission Counseling, and to the National Association for College Admission Counseling.  An earlier book on universities in the UK, The Decline of Privilege (Stanford University Press 1999) won a national award from the American Sociological Association.  In graduate school at Harvard University, Soares was a Krupp Fellow of the Center for European Studies; a US Congress Jacob Javits Fellow; and a Visiting Fellow at Nuffield College, Oxford University.  Before moving to Wake Forest, Dr. Soares taught as a Lecturer at Harvard and was an assistant and associate professor of Sociology at Yale.  For most of 2008, he was a member of the national education policy group for Barack Obama’s campaign for US President.  Dr. Soares most recent book is an edited collection, SAT WARS: the case for test-optional admissions, Teachers College Press, 2012.  In 2012 and 2013, the New York Times recommended SAT WARS as one of its top ten books for summer reading on college issues.
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Donald Robertson

Cognitive Behavioral Psychotherapist, Author

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Donald is a writer and trainer, with over twenty years’ experience.  He’s a specialist in teaching evidence-based psychological skills, and known as an expert on the relationship between modern cognitive-behavioural therapy (CBT) and and classical Greek and Roman philosophy.

He was born in Irvine, Scotland, and grew up in Ayr.  He worked as a psychotherapist for about twenty years in London, England, where he ran a training school for therapists, before emigrating to Canada in 2013 to focus on his writing and developing new online training courses.

He is an experienced public speaker.  His therapy practice specialised for many years in helping clients with social anxiety and self-confidence issues.  His work, and that of his colleagues, has often featured in the media of different countries, including a recent article on the front cover of the Toronto Globe and Mail.

Donald is also an experienced instructional designer and e-learning consultant.  He has been developing e-learning courses since 2006 when he joined a research team evaluating online CBT training for stress management, on behalf of the UK Dept. for Health (Defra).  He specializes in the design and delivery of online training for psychological skills and personal development.
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Jonathan Doh

Professor, Villanova University

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Jonathan Doh is Associate Dean of Research, the Herbert G. Rammrath Endowed Chair in International Business, founding Faculty Director of the Center for Global Leadership, and Professor of Management and Operations at the Villanova School of Business. He also serves as an occasional executive instructor for the Aresty Institute of Executive Education at The Wharton School where he works with clients on the challenges of globalization, developing corporate strategy, understanding emerging markets, and implementing corporate responsibility. He has been a visiting Professor at GSBA Zurich, the University of Auckland, and Vienna University of Economics and Business, among others. He is also a frequent keynote speaker to business, foreign affairs, and academic groups.
Previously, he was on the faculty of American and Georgetown Universities and a senior trade official with the U.S. government where he was involved in the negotiation and implementation the U.S.-Canada Free Trade Agreement and the North American Free Trade Agreement. Jonathan is author or co-author of more than 85 refereed articles published in the top international business and management journals, 40 chapters in scholarly edited volumes, and more than 100 conference papers and presentations. His article in Sloan Management Review (with Jack Pearce), “The High Impact of Collaborative Social Initiatives,” won the annual Richard Beckhard Prize for outstanding paper in change and organizational development in that journal. Previous winners of this prize include Peter Senge and Sumantra Ghoshal. He is co-editor and/or co-author of nine books, including Globalization and NGOs (with Hildy Teegen, Praeger, 2003), Handbook on Responsible Leadership and Governance in Global Business (with Steve Stumpf, Elgar, 2005), Multinationals and Development (with Alan Rugman, Yale University Press, 2008), and International Management: Culture, Strategy, and Behavior, 10th edition (McGraw-Hill/Irwin, 2018), the best selling international management text. Of his book, NGOs and Corporations: Conflict and Collaboration (with Michael Yaziji, Cambridge University Press), Peter Brabeck-Letmathe, Chairman of the Board of Nestle´ said (the authors) “have provided the authoritative volume on the topic, filled with insights and illustrative case studies. I highly recommend it.” Michael D. White, Vice Chairman of PepsiCo, called it a “must-read for any truly global business executive.” His book Aligning for Advantage: Competitive Strategies for the Political and Social Arenas (with Thomas Lawton and Tazeeb Rajwani, Oxford University Press, 2014) was lauded by Sydney Finkelstein, author of Why Smart Executives Fail, who called the book “a blueprint (for) how to make nonmarket strategy a key driver of business performance results”. David Baron of Stanford University said Aligning for Advantage is “an important advancement, providing frameworks and guidance for nonmarket strategy formulation and its alignment with the market strategy of a firm.”
Jonathan has developed more than a dozen cases and simulations published in books, journals, and case collections, and used at top business schools. His case on AirAsia, distributed by Ivey Case publishing, is widely used around the world and has been translated into Mandarin Chinese and his case on Swiss Re’s partnership with Oxfam America in Africa won second a prize from the Oikos Institute. He has led executive programs for clients such as ABB, ADP, Bodycote PLC, Bristol Myers Squibb, SCG, China Minsheng Bank, CNI/IEL Everbright, Hana Financial, HSBC, Hitachi, Hubei, Ingersoll Rand, Medtronic, Merck, NIDA, Royal Caribbean, the Securities Industry Association, Shanghai Municipal Government, United Health, Veolia. and the World Economic Forum, among others. He consulted for ABB, Deutsche Bank, and PRS Publishing and was a senior advisor to the Global Energy Resource Group of Deloitte Touche. He has been ranked among the top 12 international business scholars in the world, serves as Editor-in-Chief of the Journal or World Business, and is an elected fellow of the Academy of International Business. Jonathan received his Ph.D. from George Washington University in strategic and international management.
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Stephen Sugarman

Professor of Law, UC Berkeley

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Stephen Sugarman joined the Berkeley faculty in 1972. He regularly teaches Torts, and occasionally teaches Sports Law, Food Law and Policy, Educational Policy and Law, and other courses in the social justice curriculum.

Sugarman has written four books with Boalt colleague John Coons: Private Wealth and Public Education(Harvard 1970); Education by Choice: The Case for Family Control (California 1978); Scholarships for Children (IGS 1992); and Making School Choice Work for All Families (PRI 1999). He and Coons also argued the landmark case Serrano v. Priest before the California Supreme Court.

Sugarman’s other books include Torts – A Wider View (Vandeplas 2014); Torts Stories (Foundation 2003); All Our Families (Oxford 2002); Regulating Tobacco (Oxford 2001); School Choice and Social Controversy(Brookings 2000); Pay at the Pump Auto Insurance (IGS 1993); Smoking Policy: Law, Politics and Culture(Oxford1993); Divorce Reform at the Crossroads (Yale 1991); Doing Away with Personal Injury Law (Quorum 1989); and In the Interest of Children (Freeman 1985).

Sugarman has been a visiting professor at the London School of Economics; University College, London; the University of Paris; the European University Institute, Florence; Kobe University Faculty of Law; Kyoto University Faculty of Law; Tel Aviv University Faculty of Law; and Columbia University School of Law.

Before coming to Berkeley, Sugarman was associated with the Los Angeles office of O’Melveny & Myers. At Boalt, he served as associate dean from 1980 to 1982 and again from 2004 to 2009. He was director of the Earl Warren Legal Institute’s Family Law Program from 1988 to 1999, Co-director of the Center on Health, Economic and Family Security (CHEFS) from 2008-11, and from 2011-2014 served as the Faculty Director of Berkeley Law’s International and Executive Legal Education (IELE) program.
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Matt Gold

Adjunct Professor of Law; former Deputy Assistant US Trade Representative for North America, Fordham University School of Law

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Matt Gold is an Adjunct Professor of Law teaching International Trade Law. He is also a consultant advising U.S. businesses on the United States’ rights under international trade treaties to protect U.S. investments in foreign countries, and to ensure access for U.S. goods and services to foreign markets. Professor Gold has been consulted by the White House, National Security Council staff, State Department, and members of Congress on issues at the intersection of trade and national security, and he assisted President Obama’s reelection campaign in the area of trade policy.

Professor Gold previously held an appointment within the Executive Office of the President as the Deputy Assistant U.S. Trade Representative for North America, in which he was the United States’ lead negotiator and policy advisor focused on North American trade. In that capacity, he was a trade advisor to the President for the North American Leaders Summit, and among the trade advisors supporting the President for G8, G20, APEC, and Americas summits. Also in that position, he was a participant in the talks that brought Canada and Mexico into the Trans-Pacific Partnership negotiations, a principal negotiator at the NAFTA Free Trade Commission meetings, and the Chairman of the U.S. Delegation to the U.S.-Canada Softwood Lumber talks.

Professor Gold began his legal career with a federal clerkship in Chicago in 1985-86. He then practiced international trade and customs law in New York for more than fifteen years representing U.S. clients in every sector engaged in trade with every part of the world. Also during that period, he served as the Chairman of the U.S.-Middle East Trade Subcommittee of the Association of the Bar of the City of New York.

In 2001-02, Professor Gold served as the Chairman of a United States-Canada Binational Panel convened under NAFTA to stand in place of the United States Court of Appeals for the Federal Circuit and rule on a Canadian appeal of a U.S. International Trade Commission determination that had maintained U.S. antidumping duties and countervailing duties on certain Canadian goods.

In 2001-03, Professor Gold served as the first Chairman of the Cargo Security Subcommittee of the American Association of Exporters and Importers, working with the U.S. cargo security rules developed for the post-9/11 environment.

During 2003-10, Professor Gold served three civilian tours in Iraq working in the trade capacity component of democracy building. In this work, he advised Iraq’s Prime Minister, Trade Minister, Transportation Minister, Director General for International Trade Relations, Director General for Customs, and other officials. During his first tour, as a senior U.S. Defense Department official, he led the successful effort to gain Iraq Observer status at the World Trade Organization (WTO). In addition, he worked on problems importing food through the seaports and assessed armament factories for conversion to peacetime output. During his second tour, also with the Defense Department, he was a principal negotiator for Iraq of its $6 billion of aircraft and related procurements for the national airline. He also supported Iraq’s procurement of services to rehabilitate the seaports, cement industry, and other infrastructure and industry. During his third tour, with the State Department, he supported Iraq’s accession process for WTO membership, and trained Iraqi Customs managers on the application of WTO- and WCO-compliant customs laws. He received a citation for distinguished service presented by the Presidential Envoy to Iraq.

Education:

LLM, Fordham University School of Law

JD, New England School of Law

BA, Binghamton University

Twitter – @ProfMattGold | @FordhamLawNYC
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Peter Conti-Brown

Assistant Professor of Legal Studies and Business Ethics, Wharton School at University of Pennsylvania

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Peter Conti-Brown is an assistant professor of legal studies and business ethics at The Wharton School of the University of Pennsylvania. A financial historian and a legal scholar, Conti-Brown studies central banking, financial regulation, and public finance, with a particular focus on the history and policies of the US Federal Reserve System. He is author of the book The Power and Independence of the Federal Reserve (Princeton University Press 2016), the editor of two other books, and author or co-author of a dozen articles on central banking, financial regulation, and bank corporate governance. He has been widely quoted in print and online media on central banking and has testified before the US Senate Banking Committee on reforming the Federal Reserve. He holds degrees from Harvard College, Stanford Law School, and Princeton University’s Department of History. He is currently at work on a single-volume, comprehensive history of the US Federal Reserve.

Education

PhD, Princeton University (History, subfields in financial and political history)

JD, Stanford Law School

AB, Harvard College (magna cum laude, Phi Beta Kappa)

Twitter – @PeterContiBrown
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Lisa Cook Ph.D.

Associate Professor Economics and International Relations, Michigan State Univerisity

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Dr. Lisa D. Cook is an Associate Professor (with tenure) in the Department of Economics and in International Relations (James Madison College) at Michigan State University. She was the first Marshall Scholar from Spelman College and received a second B.A. in Philosophy, Politics, and Economics from Oxford University. She earned a Ph.D. in economics from the University of California, Berkeley. Prior to this appointment and while on faculty at Harvard University’s Kennedy School of Government, she was Deputy Director for Africa Research at the Center for International Development, Managing Editor of the Harvard University-World Economic Forum Africa Competitiveness Report, and contributed to the Making Markets Work program at Harvard Business School. She was also a National Fellow at Stanford University.

Among her current research interests are economic growth and development, economic history, innovation, and financial institutions and markets. Dr. Cook is the author of a number of published articles, book chapters, and working papers, and her research has been supported by the National Science Foundation, the National Bureau of Economic Research, Harvard Business School, the Economic History Association, and the National Poverty Center at the University of Michigan, among others. Based on her research, she was appointed in 2013 to the Advisory Boards of the Smithsonian Institution’s Lemelson Center for the Study of Invention and Innovation and of the Washington Center for Equitable Growth.

With former colleague and co-author Jeffrey Sachs, she advised the governments of Nigeria and Rwanda, and, as a Council on Foreign Relations International Affairs Fellow, she was Senior Adviser on Finance and Development at the Treasury Department from 2000 to 2001 and is currently a member of the Council on Foreign Relations. During the 2011-2012 academic year, she was on leave at the President’s Council of Economic Advisers and worked on the euro zone, financial instruments, entrepreneurship, and innovation. In February 2015, she began serving as the president of the National Economic Association. She is a guest columnist for the Detroit Free Press and a regular contributor on MSNBC. She speaks English, French, Russian, Spanish, and Wolof.

Twitter – @drlisadcook | @michiganstateu
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