Finance Specialization

Lt. Gov. Ravitch sizes up state deficit at Rudin Center forum

Lt. Gov. Ravitch sizes up state deficit at Rudin Center forum

Lt. Gov. Richard Ravitch and Prof. Charles Brecher

     "Lt. Gov. Richard Ravitch's appearance at an NYU forum yesterday was overbooked almost as soon as it was announced, and the audience wasn't disappointed as Gov. Paterson's No. 2 let loose on a variety of subjects." So began a Crain's Insider dispatch on Ravitch's bracing, widely reported discussion Oct. 28, 2009, at NYU Wagner on New York State's huge budget challenges and the implications for the Metropolitan Transportation Authority, which he formerly headed, the $2 transit fare, and the controversial idea of introducing East River bridge tolls.

     Ravitch, a major figure in the development of fiscal practices in the city and state since 1970s, offered his assessments with Wagner's Professor Charles Brecher (moderator) as a guest of the Rudin Center for Transportation Policy & Management, housed at the school, and the Center's director, Anthony Shorris, who previously headed the Port Authority of New York and New Jersey. "The State of New York," Ravitch said, "has in the remainder of this fiscal year a deficit of $4 billion--$3 or $4; people argue about it," he said, speaking to students and transportation professionals at NYU's Rudin Center for Transportation Policy. "Next year it's between $7 and $8 [billion], assuming revenues level off. The year after that, when the stimulus bill no loner provides any one-shots for the State of New York, the deficit will be between $15 and $18 billion. These are numbers that are unprecedented."

Hear the full discussion in the Wagner Podcast.

 

 

 

 

 

Micro-insurance: The Next Revolution

Micro-insurance: The Next Revolution

Most citizens and businesses in developing countries cannot buy insurance against common risks; insurance markets are thin and public responses are limited. Health insurance, life insurance, and property insurance are unobtainable for average citizens in most of the world, and this is doubly so for the poorest. Wagner Associate Professor of Public Policy and Economics Jonathan Morduch describes why, and how new ideas can change things. Others have so far focused mainly on how to build strong institutions that can provide insurance. In this essay instead the focus is on the design of products that can most help poor customers deal with risks.

Microfinance and social-justice philanthropy

Microfinance and social-justice philanthropy

Professor Jonathan Morduch's research about microfinance, a growing prescription for global poverty, will have him delivering talks this spring at the World Bank, Yale School of Management, Wharton School, Columbia Graduate School of Business, and the University of Chicago Graduate School of Business. He spoke with NPR affiliate KQED out of the San Francisco Bay Area on Apr. 6, 2007 about microfinance and social-justice philanthropy, and was turned to for an article on the microfinance movement in the April 16 issue in Time magazine.

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