Farley Grubb, professor of economics, has been invited to lecture at the Treasury Historical Association on April 30 in Washington, D.C. His lecture, "The Continental Dollar: Initial Design and Ideal Performance," will reinterpret the traditional story that the Continental dollar financed the American Revolution as an un-backed fiat currency driven to worthlessness by over-issuance. In a bold reinterpretation of events, Grubb overthrows this false history and instead shows how the Continental dollar was designed as a zero-interest bearer bond and regarded as such until Congress changed its terms, causing the notes to lose all value and be abandoned.
Faculty & Research
Faculty Academic Showcase
Carlos Asarta, director of the Center for Economic Education and Entrepreneurship and associate professor of economics in UD’s Alfred Lerner College of Business and Economics, will speak about the importance of teaching economics and leadership to high school students at the Celebrating Economic Education dinner event in San Francisco on March 13, 2014. The event will celebrate the new strategic partnership between The Fund for American Studies (TFAS) and The Foundation for Teaching Economics (FTE), and will pay tribute to FTE’s outgoing leaders, Jerry Hume and Gary Walton. The evening also will feature keynote remarks by economist John B. Taylor, the Mary and Robert Raymond Professor of Economics at Stanford University.
Farley Grubb, professor of economics, reviewed Marc Shell’s Wampum and the Origins of American Money (University of Illinois Press, 2013) for EH.net, March 2014.
Sheldon D. Pollack, professor of law in the Department of Accounting and MIS, has published an article, “The First National Income Tax, 1861-1872,” in volume 67 of The Tax Lawyer ( pp. 311–331) (Winter 2014), published by Georgetown University Law Center and the Tax Section of the American Bar Association. The article recounts the politics behind the adoption of the first national income tax during the U.S. Civil War.
“In the States” section of the national Council on Economic Education’s Winter 2014 report features called the Delaware Council on Economic Education “a true gem in the Diamond State,” and specifically highlights the council’s affiliation with the Center for Economic Education and Entrepreurship. In particular, the article draws attention to the CEEE’s teacher-training programs and student-centered events, and highlight’s the transition in leadership from Jim O’Neill to Carlos Asarta. See pg. 2 of the report for details.
Elson and Mulé recently published an article in the first quarter 2014 edition of Directors and Boards magazine. The article is about the importance of independent director industry expertise on a public company board and the dangers of a “management knowledge-captured board.”
Farley Grubb was appointed North American editor for the Financial History Series published by Pickering and Chatto, effective February 2014.
See Financial History.
Charles Elson, Weinberg Center for Corporate Governance, was mentioned in Global Proxywatch, the newsletter of International Corporate Governance and Shareowner Value, as one of the “Stars 2013,” a selection of 10 individuals from around the world who had an impact on corporate governance in the previous year.
Sheldon D. Pollack, professor of law in the Lerner College of Business and Economics, has published an assessment of Delaware's reputation as a tax haven. He concludes that attempts to portray Delaware as an international tax have are overstated, although the state is a domestic tax haven. Pollack was recently appointed to the tax committee of the Delaware State Chamber of Commerce. The committee is comprised of local tax and accounting professionals as well as representatives of the Delaware business community.
The China Business & Financial Services Industry Outsourcing Summit was held on Oct. 16-17 in Huaqiao, Shanghai. Themed "The New Financial Deal and Outsourcing," the summit featured famous financial institutions, multinational companies, leading service outsourcing enterprises and representatives from service outsourcing demonstration cities and industrial parks. Dean Weber presented on “Understanding Today’s Outsourcing Trends in Financial Services.” Associate Dean Chen participated in an interactive dialog on “Opportunities and Challenges of Outsourcing Services Initiated by Financial Innovation.”