Solow: Business Graduates Face a Changing Economy

May 20, 2011 Solow

Robert Solow, winner of the 1987 Nobel Memorial Prize in Economic Science, spoke to graduates of the MBA, Executive MBA, and Executive Master’s in Leadership programs at Georgetown’s McDonough School of Business about the changing economic times facing today’s graduates as they embark on their careers. He told the graduates to expect a departure from the economic times of their youth. He remarked that the national income distribution is shifting away from wage and salary income towards business income and capital gains, noting "this is not a trivial change."

Going forward, Solow said a more polarized economy is the most obvious change that will occur. He advised graduates, "You’ll have to form and make decisions as citizens on what sensible public policy is in that type of economy," he said.

During the May 20 ceremony on Healy Lawn, Solow also received an honorary Doctor of Humane Letters from Georgetown University. He was recognized for his role as founding director of the Manpower Demonstration Research Corporation, which tests economic policies designed to help disadvantaged individuals and exemplifies Georgetown’s mission of men and women in service to others.

The school also announced Swen Aron and Rusmir Musić as the class valedictorian and salutatorian, respectively, for the MBA Full-Time Program. Keith Bocian was named valedictorian of the MBA Evening Program. For the Executive MBA, Eamon Bobowski and Suzanne Smyth were co-valedictorians and Moshe Pridan was salutatorian. For the Executive Master’s in Leadership program, Russell Pike was valedictorian and Vincent Kiernan was salutatorian. A total of 417 students earned their degrees today.

After the ceremony, graduate Will Heitmann reflected on his accomplishment, saying, "It's a dream come true to accomplish this next step in my academic aspirations."

Another graduate, Baemen Vertovez, expressed relief, "I’m ready to get into the real world," he said.