217 Professors demand corrective action from president now

[Guest guest]

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FYI -- Makes me wonder if these high profile and

prestiguous colleges and professors will pierce GWB's

mindset and his cartel (and followers) who have caused

such disastrous economic policies.

 

The original letter was 186 Professors. As of October 4

the list has increased to include a total of 217 Professors!!!!

 

WAKE UP PEOPLE. This election is NO longer about

Republicans vs. Democrats. This is about stable and

capable leadership.

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http://www.openlettertothepresident.org/

(click on here for additional names added as of 10-4-04)

 

The " below " letter to the president was endorsed

by numerous professors from each of the following schools

(see endorsements list at end of letter):

 

The Wharton School, University of Pennsylvania

School of Business, University of Wisconsin-Madison

Harvard Business School

MIT Sloan School of Management

Graduate School of Business, Stanford University

Carroll School of Management, Boston College

Marshall School of Business, University of Southern California

College of Business Administration, Marquette University

McCombs School of Business, University of Texas at Austin

Kenan-Flagler Business School, University of North Carolina

Kogod School of Business, American University

Terry College of Business, University of Georgia

Freeman School of Business, Tulane University

Carlson School of Management, University of Minnesota

UCLA Anderson School of Management

Florida International University

Rutgers Business School--Newark and New Brunswick

University of Michigan Business School

Daniels College of Business, University of Denver

Graziadio School of Business and Management, Pepperdine University

Darden Graduate School of Business Administration, University of

Virginia

College of Business, San Francisco State University

Tuck School of Business at Dartmouth

Boston University School of Management

Smeal College of Business Administration, The Pennsylvania State

University

College of Business, Colorado State University

School of Business, College of William & Mary

College of Business, University of South Florida

College of Business, Marquette University

Stern School of Business, New York University

Katz Graduate School of Business, University of Pittsburgh

Department of Management, University of Massachusetts, Boston

Fuqua School of Business, Duke University

College of Business, University of Cincinnati

College of Business Administration & Economics, New Mexico State

University

Yale School of Management and Political Science Department

Graduate School of Business, Stanford University

Boston University School of Management

Kellogg School of Management, Northwestern University

Lundquist College of Business, University of Oregon

Leavey School of Business, Santa Clara University

Tuck School of Business at Dartmouth

Eller College of Management, University of Arizona

College of Business, San Francisco State University

Graduate School of Business, Columbia University

College of Business Administration, University of Central Florida

Graduate School of Management, University of California, Irvine

Richard T. Farmer School of Business, Miami University

UCLA Anderson School of Management

College of Business Administration, Northeastern University

Fuqua School of Business, Duke University

College of Business and Technology, Benedictine University

W.P. Carey School of Business, Arizona State University

Graduate School of Business, Columbia University

Boston University School of Management

College of Business Administration, Florida International University

Eller College of Management, University of Arizona

Terry College of Business, University of Georgia

Business School, University of Colorado at Denver

 

 

http://www.openlettertothepresident.org/

 

" Open Letter to President George W. Bush "

October 4, 2004

 

Dear Mr. President:

 

As professors of economics and business, we are

concerned that U.S. economic policy has taken a

dangerous turn under your stewardship. Nearly

every major economic indicator has deteriorated

since you took office in January 2001. Real GDP

growth during your term is the lowest of any

presidential term in recent memory. Total non-farm

employment has contracted and the unemployment

rate has increased. Bankruptcies are up sharply,

as is our dependence on foreign capital to finance

an exploding current account deficit. All three major

stock indexes are lower now than at the time of your

inauguration. The percentage of Americans in poverty

has increased, real median income has declined, and

income inequality has grown.

 

The data make clear that your policy of slashing taxes

– primarily for those at the upper reaches of the income

distribution – has not worked. The fiscal reversal that

has taken place under your leadership is so extreme

that it would have been unimaginable just a few

years ago. The federal budget surplus of over $200

billion that we enjoyed in the year 2000 has disappeared,

and we are now facing a massive annual deficit of over

$400 billion. In fact, if transfers from the Social

Security trust fund are excluded, the federal deficit

is even worse – well in excess of a half a trillion dollars

this year alone. Although some members of your

administration have suggested that the mountain of new

debt accumulated on your watch is mainly the consequence

of 9-11 and the war on terror, budget experts know

that this is simply false. Your economic policies have

played a significant role in driving this fiscal collapse.

And the economic proposals you have suggested for a

potential second term – from diverting Social Security

contributions into private accounts to making the recent

tax cuts permanent – only promise to exacerbate the

crisis by further narrowing the federal revenue base.

 

These sorts of deficits crowd out private investment and

are politically addictive. They also place a heavy burden

on monetary policy – and create additional pressure for

higher interest rates – by stoking inflationary expectations.

If your economic advisers are telling you that these deficits

can be defeated through further reductions in tax rates,

then you need new advisers. More robust economic growth

could certainly help, but nearly every one of your

administration's economic forecasts – both before and after

9-11 – has proved overly optimistic. Expenditure cuts could

be part of the answer, but your record so far has been

one of increasing expenditures, not reducing them.

 

What is called for, we believe, is a dramatic reorientation

of fiscal policy, including substantial reversals of your tax

policy. Running a budget deficit in response to a short bout

of recession is one thing. But running large structural deficits

over a long period is something else entirely. We therefore

urge you to consider the fiscal realities we now face and

the substantial burden they are placing on our economy.

 

We also urge you to consider the distributional consequences

of your policies. Under your administration, the income gap

between the most affluent Americans and everyone else

has widened. Although the latest data reveal that real

household incomes have dropped across the board since

you took office, low and middle income households have

experienced steeper declines than upper income households.

To be sure, the general phenomenon of mounting inequality

preceded your administration, but it has continued (and, by

some accounts, intensified) over the past three and a half

years.

 

Some degree of inequality is inherent in any free market

economy, creating positive incentives for economic and

technological advancement. But when inequality becomes

extreme, it can be socially corrosive and economically

dysfunctional. Problems of this sort are visible throughout

much of the developing world. At the moment, the most

commonly accepted measure of inequality – the so-called

Gini coefficient – is far higher in the United States than

in any other developed country and is continuing to move

upward. We don't know where the breakpoint is for the

U.S., but we would rather not find out. With all due

respect, we believe your tax policy has exacerbated the

problem of inequality in the United States, which has

worrisome implications for the economy as a whole. We

very much hope you will take this threat to our nation

into account as you consider new fiscal approaches to

address the nation's most pressing economic problems.

 

Sensible and farsighted economic management requires

true discipline, compassion, and courage – not just slogans.

Given the tenuous state of the American economy, we

believe that the time for an honest assessment of the

problem and for genuine corrective action is now.

Ignoring the fiscal crisis that has taken hold during your

presidency may seem politically appealing in the short run,

but we fear it could ultimately prove disastrous. From a

policy standpoint, the clear message is that more of the

same won't work. The warning signs are already visible,

and it is incumbent upon all of us to pay attention.

 

Respectfully submitted,

 

Francis Aguilar

Professor of Business Administration, Emeritus

Harvard Business School

 

Ramon J. Aldag

Glen A. Skillrud Family Chair in Business

School of Business, University of Wisconsin-Madison

 

Teresa M. Amabile

Edsel Bryant Ford Professor of Business Administration

Harvard Business School

 

Kenneth R. Andrews

David K. Donald Professor of Business Administration, Emeritus

Harvard Business School

 

James E. Austin

Eliot I. Snider and Family Professor of Business Administration

Harvard Business School

 

Joseph L. Badaracco

John Shad Professor of Business Ethics

Harvard Business School

 

Lotte Bailyn

T. Wilson (1953) Professor of Management

MIT Sloan School of Management

 

George P. Baker

Herman C. Krannert Professor of Business Administration

Harvard Business School

 

Louis B. Barnes

John D. Black Professor, Emeritus

Harvard Business School

 

James N. Baron

Walter Kenneth Kilpatrick Professor of Organizational Behavior and

Human Resources

Graduate School of Business, Stanford University

 

Jean M. Bartunek

Robert A. and Evelyn J. Ferris Chair, Professor of Organization

Studies

Carroll School of Management, Boston College

 

Yehuda Bassock

Professor

Marshall School of Business, University of Southern California

 

Thomas A. Bausch

Professor

College of Business Administration, Marquette University

 

Max H. Bazerman

Jesse Isidor Straus Professor of Business Administration

Harvard Business School

 

Cynthia Beath

Professor Emeritus

McCombs School of Business, University of Texas at Austin

 

Michael Beer

Cahners-Rabb Professor of Business Administration, Emeritus

Harvard Business School

 

Jack N. Behrman

Luther Hodges Distinguished Professor, Emeritus

Kenan-Flagler Business School, University of North Carolina

 

Norman A. Berg

MBA Class of 1958 Professor of Business Administration, Emeritus

Harvard Business School

 

Barbara Bird

Associate Professor of Management

Kogod School of Business, American University

 

John E. Bishop

Professor of Business Administration, Emeritus

Harvard Business School

 

Robert B. Bostrom

L. Edmund Rast Professor of Business

Terry College of Business, University of Georgia

 

Joseph L. Bower

Donald K. David Professor of Business Administration

Harvard Business School

 

Stephen P. Bradley

William Ziegler Professor of Business Administration

Harvard Business School

 

Arthur P. Brief

Lawrence Martin Professor of Business

Freeman School of Business, Tulane University

 

Philip Bromiley

Curtis L. Carlson Chair in Strategic Management

Carlson School of Management, University of Minnesota

 

Alfred D. Chandler

Isidor Straus Professor of Business History, Emeritus

Harvard Business School

 

Chao C. Chen

Professor

Rutgers Business School, Rutgers University

 

Charles J. Corbett

Associate Professor of Operations Management and Environmental

Management

UCLA Anderson School of Management

 

Thomas G. Cummings

Professor

Marshall School of Business, University of Southern California

 

Michael Cusumano

Sloan Management Review Distinguished Professor

MIT Sloan School of Management

 

Fariborz Damanpour

Professor

Rutgers Business School

 

Jose de la Torre

Dean, Chapman Graduate School of Business

Florida International University

 

John A. Deighton

Harold M. Brierley Professor of Business Administration

Harvard Business School

 

Rohit Deshpande

Sebastian S. Kresge Professor of Marketing

Harvard Business School

 

Nancy DiTomaso

Professor

Rutgers Business School--Newark and New Brunswick

 

Jane E. Dutton

Professor

University of Michigan Business School

 

Amy C. Edmondson

Professor

Harvard Business School

 

Benjamin C. Esty

Professor of Business Administration

Harvard Business School

 

Ronald F. Fariña

Associate Professor

Daniels College of Business, University of Denver

 

Ann E. Feyerherm

Associate Professor of Organization and Management

Graziadio School of Business and Management, Pepperdine University

 

James A. Fitzsimmons

William H. Seay Centennial Professor of Business

McCombs School of Business, University of Texas at Austin

 

James W. Fredrickson

Tom E. Nelson, Jr. Regents Professor of Business

McCombs School of Business, University of Texas at Austin

 

Sherwood C. Frey, Jr.

Ethyl Corporation Professor of Business Administration

Darden Graduate School of Business Administration, University of

Virginia

 

Cynthia V. Fukami

Professor

Daniels College of Business, University of Denver

 

Pankaj Ghemawat

Jaime and Josefina Chua Tiampo Professor of Business Administration

Harvard Business School

 

Stephen M. Gilbert

Associate Professor

McCombs School of Business, University of Texas at Austin

 

James R. Glenn, Jr.

Professor of Management

College of Business, San Francisco State University

 

Leslie E. Grayson

Isidore Horween Research Professor, Emeritus

Darden Graduate School of Business Administration, University of

Virginia

 

Jerry R. Green

Daniel A. Wells Professor of Political Economy,

John Leverett Professor in the University

Harvard Business School

 

Leonard Greenhalgh

Professor of Management

Tuck School of Business at Dartmouth

 

Douglas T. Hall

Professor of Organizational Behavior

Boston University School of Management

 

Donald C. Hambrick

Smeal Chaired Professor of Management

Smeal College of Business Administration, The Pennsylvania State

University

 

Rebecca M. Henderson

Eastman Kodak LFM Professor

MIT Sloan School of Management

 

Linda A. Hill

Wallace Brett Donham Professor of Business Administration

Harvard Business School

 

Raymond Hogler

Professor of Management

College of Business, Colorado State University

 

Yasheng Huang

Associate Professor of International Management

MIT Sloan School of Management

 

Mariann Jelinek

The Richard C. Kraemer Professor of Business Strategy

School of Business, College of William & Mary

 

David B. Jemison

Foster Parker Centennial Professor of Management and Finance

McCombs School of Business, University of Texas at Austin

 

John M. Jermier

Exide Professor of Sustainable Enterprise Research

College of Business, University of South Florida

 

Shulamit Kahn

Associate Professor

Boston University School of Management

 

Kate M. Kaiser

Associate Professor

College of Business, Marquette University

 

Rosabeth M. Kanter

Ernest L. Arbuckle Professor of Business Administration

Harvard Business School

 

Steven O. Kimbrough

Professor

The Wharton School, University of Pennsylvania

 

Stephen J. Kobrin

Wurster Professor of Multinational Management

The Wharton School, University of Pennsylvania

 

Thomas A. Kochan

George Maverick Bunker Professor of Work and Employment Relations

MIT Sloan School of Management

 

Nancy F. Koehn

James E. Robison Professor of Business Administration

Harvard Business School

 

Howard Kunreuther

Cecilia Yen Koo Professor of Decision Sciences and Public Policy

The Wharton School, University of Pennsylvania

 

Rajiv Lal

Stanley Roth, Sr. Professor of Retailing

Harvard Business School

 

Theresa Lant

Associate Professor of Management

Stern School of Business, New York University

 

Paul R. Lawrence

Wallace Brett Donham Professor of Organizational Behavior, Emeritus

Harvard Business School

 

Carrie R. Leana

Professor of Business Administration and of Public and International

Affairs

Katz Graduate School of Business, University of Pittsburgh

 

Dorothy A. Leonard

William J. Abernathy Professor of Business Administration, Emerita

Harvard Business School

 

Herman B. Leonard

Professor of Business Administration

Harvard Business School

 

Donald R. Lessard

Epoch Foundation Professor of International Management

MIT Sloan School of Management

 

Daniel A. Levinthal

Julian Aresty Professor of Management and Economics

The Wharton School, University of Pennsylvania

 

David Levy

Professor of Management

Department of Management, University of Massachusetts, Boston

 

E. Allan Lind

Thomas A. Finch Professor of Business Administration

Fuqua School of Business, Duke University

 

Richard M. Locke

Alvin J. Siteman Professor of Entrepreneurship and Political Science

MIT Sloan School of Management

 

George C. Lodge

Jaime and Josefina Chua Tiampo Professor of Business Administration,

Emeritus

Harvard Business School

 

Jay W. Lorsch

Louis E. Kirstein Professor of Human Relations

Harvard Business School

 

Michael Magazine

Professor

College of Business, University of Cincinnati

 

Michael R. Manning

Professor of Management

College of Business Administration & Economics, New Mexico State

University

 

Theodore R. Marmor

Professor of Public Policy and Management

Yale School of Management and Political Science Department

 

Joanne Martin

Merrill Professor of Organizational Behavior

Graduate School of Business, Stanford University

 

Thomas K. McCraw

Isidor Straus Professor of Business History

Harvard Business School

 

Anita M. McGahan

Professor and Everett W. Lord Distinguished Faculty Scholar

Boston University School of Management

 

Kathleen L. McGinn

Cahners-Rabb Professor of Social and Organizational Psychology

Harvard Business School

 

Robert P. McGowan

Professor

Daniels College of Business, University of Denver

 

Robert C. Merton

John and Natty McArthur University Professor

Harvard Business School

 

David M. Messick

Kaplan Professor of Ethics and Decision in Management

Kellogg School of Management, Northwestern University

 

Alan D. Meyer

Charles H. Lundquist Professor of Entrepreneurial Management

Lundquist College of Business, University of Oregon

 

Marshall W. Meyer

Richard A. Sapp Professor, Professor of Management and Sociology

The Wharton School, University of Pennsylvania

 

Richard F. Meyer

Thomas D. Casserly, Jr. Professor of Business Administration, Emeritus

Harvard Business School

 

Ian Mitroff

Harold Quinton Distinguished Professor of Business Policy

Marshall School of Business, University of Southern California

 

Cynthia A. Montgomery

Timken Professor of Business Administration

Harvard Business School

 

David A. Moss

John G. McLean Professor of Business Administration

Harvard Business School

 

J. Keith Murnighan

Harold H. Hines, Jr. Distinguished Professor of Risk Management

Kellogg School of Management, Northwestern University

 

Steven Nahmias

Professor

Leavey School of Business, Santa Clara University

 

Barry Nalebuff

Milton Steinbach Professor of Management

Yale School of Management

 

Das Narayandas

Professor of Business Administration

Harvard Business School

 

Paul Newman

Clark W. Thompson, Jr. Chair in Accounting

McCombs School of Business, University of Texas at Austin

 

William Ocasio

John L. and Helen Kellogg Distinguished Professor of Management and

Organizations

Kellogg School of Management, Northwestern University

 

Paul Osterman

NTU Professor of Human Resources and Management

MIT Sloan School of Management

 

Lynn S. Paine

John G. McLean Professor of Business Administration

Harvard Business School

 

Johannes M. Pennings

Marie and Joseph Melone Professor

The Wharton School, University of Pennsylvania

 

Margaret Peteraf

Associate Professor of Business Administration

Tuck School of Business at Dartmouth

 

Joel Podolny

Novartis Professor of Leadership and Management

Harvard Business School

 

John W. Pratt

William Ziegler Professor of Business Administration, Emeritus

Harvard Business School

 

Drazen Prelec

Professor of Management Science

MIT Sloan School of Management

 

Keith G. Provan

Eller Professor of Public Administration & Policy

Eller College of Management, University of Arizona

 

Ronald E. Purser

Professor of Management

College of Business, San Francisco State University

 

Roy Radner

L. N. Stern School Professor of Business

Stern School of Business, New York University

 

Daniel Raff

Associate Professor of Management

The Wharton School, University of Pennsylvania

 

Howard Raiffa

Frank Plumpton Ramsey Professor of Managerial Economics, Emeritus

Harvard Business School

 

V. Kasturi Rangan

Malcolm P. McNair Professor of Marketing

Harvard Business School

 

Stefan H. Robock

R. D. Calkins Professor of International Business, Emeritus

Graduate School of Business, Columbia University

 

David Rogers

Professor Emeritus of Management and Sociology

Stern School of Business, New York University

 

John W. Rosenblum

Dean Emeritus

Darden Graduate School of Business Administration, University of

Virginia

 

Lori Rosenkopf

Associate Professor of Management

The Wharton School, University of Pennsylvania

 

Walter J. Salmon

Stanley Roth, Sr. Professor of Retailing, Emeritus

Harvard Business School

 

Carol Saunders

Professor of MIS

College of Business Administration, University of Central Florida

 

Melissa A. Schilling

Associate Professor

Stern School of Business, New York University

 

Arthur Schleifer, Jr.

James J. Hill Professor of Business Administration, Emeritus

Harvard Business School

 

Claudia B. Schoonhoven

Professor of Organization and Strategy

Graduate School of Management, University of California, Irvine

 

Bruce R. Scott

Paul W. Cherington Professor of Business Administration

Harvard Business School

 

Michael S. Scott-Morton

Jay W. Forester Professor of Management, Emeritus

MIT Sloan School of Management

 

James K. Sebenius

Gordon Donaldson Professor of Business Administration

Harvard Business School

 

Benson P. Shapiro

Malcolm P. McNair Professor of Marketing, Emeritus

Harvard Business School

 

Roy D. Shapiro

Philip Caldwell Professor of Business Administration

Harvard Business School

 

William F. Sharpe

STANCO 25 Professor of Finance, Emeritus

Stanford Business School

 

William W. Sihler

Ronald E. Trzcinski Professor of Business Administration

Darden Graduate School of Business Administration, University of

Virginia

 

Alvin J. Silk

Lincoln Filene Professor of Business Administration, Emeritus

Harvard Business School

 

Harbir Singh

Edward H. Bowman Professor of Management

The Wharton School, University of Pennsylvania

 

Jitendra V. Singh

Saul P. Steinberg Professor of Management

The Wharton School, University of Pennsylvania

 

Sim B. Sitkin

Associate Professor

Fuqua School of Business, Duke University

 

William B. Snavely

Professor of Management

Richard T. Farmer School of Business, Miami University

 

Olav Sorenson

Associate Professor

UCLA Anderson School of Management

 

Debora L. Spar

Spangler Family Professor of Business Administration

Harvard Business School

 

Bert A. Spector

Associate Professor of Human Resources Management

College of Business Administration, Northeastern University

 

Richard Staelin

Edward and Rose Donnell Professor of Business Administration

Fuqua School of Business, Duke University

 

William H. Starbuck

ITT Professor of Creative Management

Stern School of Business, New York University

 

John Sterman

Jay W. Forester Professor of Management

MIT Sloan School of Management

 

Richard S. Tedlow

MBA Class of 1949 Professor of Business Administration

Harvard Business School

 

Ramkrishnan V. Tenkasi

Professor of Organization Change

College of Business and Technology, Benedictine University

 

David A. Thomas

Naylor Fitzhugh Professor of Business Administration

Harvard Business School

 

William R. Torbert

Professor

Carroll School of Management, Boston College

 

Anne S. Tsui

Motorola Professor

W.P. Carey School of Business, Arizona State University

 

Michael L. Tushman

Paul R. Lawrence MBA Class of 1942 Professor of Business

Administration

Harvard Business School

 

Karl T. Ulrich

Professor of Operations and Information Management

The Wharton School, University of Pennsylvania

 

Garrett J. van Ryzin

Paul M. Montrone Professor of Private Enterprise

Graduate School of Business, Columbia University

 

N. Venkat Venkatraman

David J. McGrath Jr. Professor of Management

Boston University School of Management

 

Richard H. K. Vietor

Senator John Heinz Professor of Environmental Management

Harvard Business School

 

Mary Ann Von Glinow

Research Professor

College of Business Administration, Florida International University

 

Sandra Waddock

Professor of Management

Carroll School of Management, Boston College

 

Melanie Wallendorf

Eller Professor of Marketing

Eller College of Management, University of Arizona

 

Richard T. Watson

J. Rex Fuqua Distinguished Chair for Internet Strategy

Terry College of Business, University of Georgia

 

David Weil

Associate Professor of Economics

Boston University School of Management

 

Louis T. Wells

Herbert F. Johnson Professor of International Management

Harvard Business School

 

Patricia H. Werhane

Ruffin Professor of Business Ethics

Darden Graduate School of Business Administration, University of

Virginia

 

Birger Wernerfelt

J. C. Penney Professor of Management Science

MIT Sloan School of Management

 

D. Eleanor Westney

Society of Sloan Fellows Chair in Management

MIT Sloan School of Management

 

James D. Westphal

Ed and Molly Smith Chair in Business Administration

McCombs School of Business, University of Texas at Austin

 

Robert B. Wilson

Adams Distinguished Professor of Management, Emeritus

Stanford Business School

 

Sid Winter

Deloitte and Touche Professor of Management

The Wharton School, University of Pennsylvania

 

JoAnne Yates

Sloan Distinguished Professor of Management

MIT Sloan School of Management

 

David B. Yoffie

Max and Doris Starr Professor of International Business Administration

Harvard Business School

 

Abraham Zaleznik

Konosuke Matsushita Professor of Leadership, Emeritus

Harvard Business School

 

Ray Zammuto

Professor of Management

Business School, University of Colorado at Denver

 

Paul H. Zipkin

The T. Austin Finch, Sr. Professor of Business

Fuqua School of Business, Duke University

 

 

The above tenured or emeritus professors have signed in their

individual capacities. The letter represents the signers' own views,

not those of the institutions with which they are affiliated.

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