Albert Gallatin: Fiscal Austerity and Economic Growth
Swiss-born Albert Gallatin took charge of the US Treasury in 1801 and reduced the national debt by nearly 50 percent. What can today's economic policymakers learn from this Founding Father?
The finances of the young United States of America were in a grave state when Swiss-born Albert Gallatin took charge of the Treasury in 1801. In short order, he was able to reduce the national debt by nearly 50 percent, even while launching major projects in infrastructure and financing the Louisiana Purchase. So what can today's economic policymakers learn from this Founding Father?
You are cordially invited to a discussion on this topic featuring Nicholas Dungan, the author of a new Gallatin biography; Dr. Sean Randolph, President of the Economic Institute of the Bay Area Council; and Swiss Consul General Julius F. Anderegg.
Nicholas Dungan is a transatlantic expert and commentator. He has served as president of the French-American Foundation in New York and Associate Fellow of the Royal Institute of International Affairs at the Chatham House in London, and worked as a banker in Europe and the United States. His book, Gallatin: America’s Swiss Founding Father, from NYU Press and the Swiss Confederation, was published in 2010.
Sean Randolph
Sean Randolph is President of the Bay Area Council Economic Institute, a public-private partnership of business, labor, government, and higher education that works to foster a competitive economy in California and the Bay Area. Randolph has served as President & CEO of the Bay Area Economic Forum and as Director of international trade for the State of California, where he developed trade strategy and directed international business programs to stimulate exports and introduce California companies to overseas markets. Prior to that, he was Managing Director of the RSR Pacific Group and International Director General of the Pacific Basin Economic Council.
