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Expert Panelists Discuss President's Role in Righting the Economy |
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Written by Deborah Purnell
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09/23/2008 |
Panelists (from left) Samir Husni, chair and professor of journalism; Joanne Lipman, editor-in-chief of Condé Nast Portfolio Magazine; Dan Goodgame, managing editor of Fortune Small Business; William F. Shughart II, F.A.P. Barnard Distinguished Professor of Economics and editor-in-chief of Public Choice; and Bill Rayburn, chief executive officer of FNC Inc., discuss the challenges of righting the nation's economy before a packed auditorium Monday evening at the University of Mississippi. UM Photo by Robert Jordan
OXFORD,
Miss. - With gas prices again on the rise and financial markets around
the world trying to recover from recent shocks with stocks, voters are
wondering how a new president can make a difference.
This
question was tackled Monday (Sept. 22) at the University of Mississippi
by a panel of economic and journalism experts in the discussion "A New
Administration: What Will it Mean for the Economy and American Real
Estate Markets?"
Dr. Carolyn Ellis Staton introduces panel (left to right) members and host Dr. Samir Husni, Chair and Professor of Journalism; Joanne Lipman, editor in chief, Condé Nast Portfolio Magazine; Dan Goodgame, managing editor, Fortune Small Business; UM’s William F. Shughart II, F.A.P. Barnard Distinguished Professor of Economics and Editor in Chief, Public Choice; as well as Bill Rayburn, Chief Executive Officer, FNC. Photo by Robert JordanPhoto by Robert Jordan
"Whoever wins the election will face some serious long- and short-term problems," said panelist Joanne Lipman, editor-in-chief of Conde Nast Portfolio Magazine. "And as we've seen from the determined work of Secretary Paulson, many of these decisions are tough and controversial.
"The biggest challenge for the next president will be picking the right economic team, figuring out whether to keep Fed Chief Bernanke past his 2009 end date, and solving Washington's budget crises without crippling the American taxpayer and the economy as a whole."
Co-hosted by UM's Department of Journalism and FNC Inc. of Oxford, the discussion was moderated by Samir Husni, journalism chair. Joining Husni and Lipman were panelists Dan Goodgame, managing editor of Fortune Small Business; FNC's CEO Bill Rayburn; and UM's William F. Shughart II, F.A.P. Barnard Distinguished Professor of Economics.
Shughart agreed with Lipman, saying, "Whoever becomes president will be in a difficult position. With two wars and a low economy, there is no leverage left for either candidate to have an impact. It all comes down to picking qualified advisers."
Rayburn said, "It really boils down to who the new president picks as the Secretary of Treasury. And, I think it's imperative that it be someone with Wall Street experience."
Speaking for UM students, Husni said, "Our students want to know how the current economic crisis affects them."
Part of that answer came in Goodgame's explanation about the state of small businesses.
"Simply, 90 percent of new businesses are created by small businesses," Goodgame said. "One-third of these small businesses used home equity loans to start the business. Forty-four percent of them probably used credit cards for capital. If the small businesses go under, so do many new jobs."
For more information on the presidential debate or related events, go to http://debate.olemiss.edu/ .
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