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Tuesday December 10, 2019 vol. CXLIII no. 119
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BEYOND THE BUBBLE
U . A F FA I R S
U. to present Romero ’87, Thorne GS ’65 with top alumni awards By Caitlin Limestahl Contributor
EDMOND J. SAFRA CENTER FOR ETHICS / FLICKR
Alumnus and Frederick H. Schultz ’51 Professor of International Economic Policy, Emeritus Paul A. Volcker ’49 has died at the age of 92.
Volcker ’49 dies at 92 Staff Writer
Former Chairman of the Federal Reserve Paul A. Volcker ’49, who led the effort to suppress inflation throughout the late 1970s and early 1980s, has died at the age of 92. The former Federal Reserve Chairman, who served in the post from 1979 to 1987 under Presidents Jimmy Carter and Ronald Reagan, passed away in his home in NY on Sunday, Dec. 8, according to his daughter, Janice Zima. Born on Sept. 5, 1927 in Cape May, NJ, Paul Adolph Volcker Jr. was a grandson of German immigrants; he was the oldest of four children and only son of his father, Paul Sr., and his mother, Alma Louise. Volcker graduated summa cum laude from the Woodrow Wilson School of Public and International Affairs at the University in 1949 with a bachelor’s degree, having wrote a senior thesis titled “The
Problems of Federal Reserve Policy since World War II”. Volcker later studied at the Littauer School of Public Administration at Harvard University (now the John F. Kennedy School of Government), receiving a master’s degree in political economy. Volcker then attended the London School of Economics through a Rotary Club scholarship with a plan of completing a doctoral thesis, which he never wrote. Volcker was named a senior fellow by the Wilson School in 1975 and later served as a charter trustee of the University from 1984 to 1988. He joined the faculty of the Wilson School in 1988, becoming the first Frederick H. Schultz ’51 Professor of International Economic Policy. He transferred to emeritus status in 1997. Having served under four different presidential administrations, Volcker’s long career in government included posts in the Department of Treasury, the Fed-
BEYOND THE BUBBLE
eral Reserve Bank of New York, the Board of Governors of the Federal Reserve System, and President Barack Obama’s Economic Recovery Advisory Board. The effort he is perhaps most well known for in Volcker’s two terms as Federal Reserve Chairman was his tenacious effort against the high inflation that plagued the U.S. economy throughout the 1970s. Volcker’s Federal Reserve drove up interest rates and, in turn, the unemployment rate, forcing the economy into a recession in the early 1980s despite deep unpopularity, likely contributing to President Carter’s defeat in his reelection campaign. Since then, Volcker’s forceful crusade against inflation has attracted admirers and gained him a reputation characterized by the political independence of the Federal Reserve. Volcker is survived by his son, James, his daughter, Janice, and his second wife, Anke Dening. STUDENT LIFE
ON CAMPUS
Fried ’20, Brown ’20 named CPUC 2020 Marshall Scholars discusses new ad hoc committee, sustainability, electric scooters
By Marie-Rose Sheinerman Assistant News Editor
DANIEL HOLTH / WIKIMEDIA COMMONS
Amtrak P.R. Manager Jason Abrams commented that “the safety of our customers, employees and public is our top priority.”
Avital Fried ’20 and Andrew Brown ’20 have been awarded 2020 Marshall Scholarships. The scholarship covers the cost of two years of graduate study in the United Kingdom at the university of the recipient’s choice. Brown and Fried will join a cohort of 46 students awarded the scholarship, which seeks to promote “strong relations between the UK and the United States by offering intellectually distinguished young Americans the op-
portunity to develop their abilities as future leaders,” according to the University’s statement. In its history, 134 University students have been awarded the Marshall Scholarship, according to data from the scholarship’s website. The annual scholarship was first founded in 1953 by the Parliament of the United Kingdom in recognition of U.S. Secretary of State George C. Marshall, best known as the architect of the Marshall Plan, which assisted European nations in economic recovery after World War II. The See MARSHALL page 2
Police investigate train collision near Princeton Last USG meeting of 2019 Junction Station approves eight new clubs STUDENT LIFE
By Sandeep Magnat Contributor
The Amtrak Police Department is currently investigating a train collision that occurred near Princeton Junction Station in November. The West Windsor Police Department responded to a Toyota Camry becoming stuck on the tracks at the Princeton Junction Station just after midnight on Nov. 20. The car was unable to be freed and was struck by Amtrak train 639 on its way from New
In Opinion
York to Philadelphia. 59 people were aboard the train. The train terminated its route at Princeton Junction, and the passengers were taken to Trenton via New Jersey transit. A replacement train was sent to take passengers on the scheduled route. It arrived in Philadelphia at approximately 3:35 a.m., three hours and 25 minutes behind schedule. The Toyota was destroyed and pushed into a police patrol car, which also sustained damage. See TRAIN page 3
Contributing columnist Ollie Thakar outlines the benefits of choosing daily outfits at random, and guest contributor Clem Brown defends USG presidential candidate David Esterlit’s service in the Israel Defense Forces.
PAGE 4
By Bharvi Chavre Contribtor
During its last weekly meeting of 2019, held on Sunday, Dec. 8, the Undergraduate Student Government (USG) approved funding to bring a speaker to campus, eight new clubs, and a resolution to the Executive Committee. They also discussed incubator feedback and an Indigenous Studies letter. Projects Board Co-Chair Rachel Hazan ’21 introduced the Chinese Student Association’s (CSA) re-
quest for $1,500 for the event titled “A Conversation with Steven Lim” on Feb. 13, 2020, in Richardson Auditorium. Lim, of ChineseMalaysian American descent, is an executive video producer at BuzzFeed Motion Pictures. CSA hopes this event will help undergraduate students learn more about different cultures and spark discussions about cultural identity and diversity. “The contract has already been approved on the ODUS [Office of See USG page 2
Today on Campus 5:30 p.m.: Being Human Festival 2019: Prescription Vegetable? Jammin’ Crepes
By James Anderson Contributor
On Monday, Dec. 9, in its final meeting of the semester, the Council of the Princeton University Community (CPUC) voted to approve the Ad Hoc Committee on Sexual Climate, Culture, and Conduct, heard a presentation on recent sustainability initiatives, and discussed possible policies on electric scooters. The presentation focused on measures in the Sustainability Action Plan directed towards land conservation and waste reduction. Though several members addressed safety and accessibility concerns resulting from scooter use, along with questions of the relative environmental impact of various transportation systems on campus, no resSee CPUC page 3
WEATHER
By Allan Shen
Anthony D. Romero ’87 and Kip Thorne GS ’65 have been selected as the 2020 recipients of the University’s top alumni awards, the Woodrow Wilson Award and the James Madison Medal, respectively. Both will speak on Alumni Day on Feb. 22, 2020. The Woodrow Wilson Award is given to an alumnus or alumna of the undergraduate college who epitomizes the University’s motto — as coined by Woodrow Wilson, “Princeton in the Nation’s Service.” Romero has served as the executive director of the American Civil Liberties Union (ACLU) since Sept. 2001, just before the Sept. 11 terrorist attacks. “Keep America Safe and Free,” the campaign Romero launched in response to the attacks, targeted the USA PATRIOT Act and achieved numerous victories in court. At the ACLU, Romero has presided over dramatic expansion. According to a 2008 interview, the ACLU’s staff had more than doubled, and the organization’s budget had more than tripled since Romero’s tenure began. This increase in membership and funding has allowed the ACLU to expand its advocacy efforts to include the rights of immigrants, the LGBTQ community, and women. “Princeton played a transformational role in my life, and I am truly humbled and honored by the award,“ Romero said. “The young man who came from a working class family and a vocational high school was fundamentally changed by four years at Princeton.” Romero also commented on the connotations that the award, named after former University
president and 28th President of the United States Woodrow Wilson, would carry. “The controversy surrounding Woodrow Wilson’s legacy, both bad and good, also offers a unique opportunity to talk about social justice and public service in a time when these issues really matter,“ Romero said. In an interview earlier this year with The Daily Princetonian, Romero said of the ACLU, “What we do makes a real difference, and how we do it has a real impact on the trajectory of liberty and freedom in this country.” “I think I’m most pleased and most proud that this organization continues to grow and expand and be resonant with newer generations of Americans on different sets of issues,” Romero said. “I think that the organization’s best days are always ahead of it. And I think if I do my job right, there will be no golden age of the ACLU that we can point to. The golden age of the organization will always be in front of us.” “My biggest accomplishment is that the golden age of the ACLU is ahead of me and not during my tenure,” he added. Romero received his A.B. degree from the Woodrow Wilson School of Public and International Affairs. His senior thesis was titled, “Colombian Migration and Political Participation in the United States.” The James Madison Medal is awarded to an alum of the University graduate school who “has had a distinguished career, advanced the cause of graduate education or achieved a record of outstanding public service,” according to the Alumni Association website. Thorne was a co-recipient of the See AWARDS page 3
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