The real fissure

by | October 14, 2013

Originally published at Financial Times Alphaville | October 14, 2013

The convulsions in Washington are not about whether Congress and the President can find a way to raise the debt ceiling and re-open the government. Rather, they are about unprecedented income inequity and a fundamental disagreement over the concept of the American Dream.

At issue is whether the United States is about protecting the ideals of capitalism and aggregate economic growth, or the ideals of democracy and the well-being of the majority. In a society that is sustainable, these two ideals would be well-aligned and somewhat balanced. But as US society grows more unequal, the objectives of these ideals diverge, and debates grow more divisive.

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Filed Under: Economics

About the Author

Alex is the co-founder of Jackson Hole Economics, a non-profit research organization which provides analysis of key topics in the political economy, and develops actionable ideas for how sustainable growth can be achieved

Alex is also the co-founder and Chief Executive Officer of Novata, a mission-driven and technology-powered public benefit corporation designed to improve the process of Environmental, Social, and Governance (ESG) diligence in the private markets. Backed by a unique consortium, which includes the Ford Foundation, S&P Global, Hamilton Lane and Omidyar Network, Novata has created an independent, unbiased and flexible platform for the private markets to more consistently measure, analyze and report on relevant ESG data.

With two decades of experience in the financial and non-profit spaces, Alex has led a number of sustainable growth and transformation efforts. He is a former CEO of GAM Holdings and Chief Investment Officer of UBS, and also served as the Chief Financial Officer of the Bill & Melinda Gates Foundation, where he created the foundation's strategic investment fund.

Alex was a White House Fellow and an assistant to the Secretary of Defense. He is a member of the Board of Directors of Franklin Resources, Inc. (Franklin Templeton), a member of the Council on Foreign Relations, Chair of the Advisory Board of Project Syndicate and a board member of the American Alpine Club. Alex also writes regularly for various news outlets and is the author of Babu's Bindi and The Big Thing: Brave Bea, both children's books.

Alex holds a JD from Columbia Law School, where he was a Harlan Fiske Stone Scholar, an MBA from Columbia Business School, and a BA from Princeton University.

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