currency, noted that the current slow down
in the economy may last longer than expected. "Corporate profits drive capital
investment," he said. "It's a vicious circle."
Saying the corporate
income tax inhibits economic growth, Dr. Robert A. Mundell, the 1999 Nobel
Laureate for Economics, called for its elimination as a way to spark the
the corporate income tax would be a good move," he said. "The stock market
would boom ahead and there would be a big upsurge in investment."
Polytechnic's Fifth Annual Lynford Lecture, Mundell, professor of economics
at Columbia University, declared that the economy needs a boost and tax reform
is necessary. "Corporate profits," he said, "are the beacon that makes the
In his lecture,
Emerging Domestic and Global Economic Issues, Mundell, who conceived the
idea for creating the Euro, a single European
The Lynford Lecture
is sponsored by Jeffrey H. Lynford, chairman of Wellsford Real Properties
Inc. and a Polytechnic trustee, and his wife, Tondra, to present the insights
of outstanding scientists and mathematicians to a wide audience. Polytechnic's
Institute for Mathematics and Supercomputing (IMAS), led by the brother mathematicians
Drs. David and Gregory Chudnovsky, cosponsor the lecture.
lecture, Lynford told the more than 200 people in the University's Dibner
Auditorium that a supercomputer, designed by the Chudnovskys, will be housed
in a new laboratory at Polytechnic. "The computer," he said, "will be used
to help the Chudnovskys design a powerful new chip that will be the heart
of the next generation of IBM's Blue GeneCyclops supercomputers.
The Lynford Lecture was held at Polytechnic University's MetroTech campus in downtown Brooklyn on October 8th.