Saturday, May 10, 2014

How Should a Finance Prof Speak to Well Intentioned Hippies?

My UCLA colleague Ivo Welch has written an OP-ED for the New York Times explaining why university divestment from coal companies will not change the world. At the end of his piece, he offers some alternative strategies to achieve the student's noble goal of reducing global GHG emissions.  

I respect student activism but I continue to hope that students will think about the intended and unintended consequences of their activism.   Harvard's Drew Faust disappointed her green hippies when she wrote this nuanced piece explaining why Harvard would not divest.  Must the "adults" continually disappoint the "young adults"?   The answer may be "yes".