Yale School of Management

Faculty Weigh in on the 2016 Election

Club Event

Hillary Clinton is facing the one Republican candidate that she really could beat, and Donald Trump is facing the one Democratic candidate that he could beat.Jeffrey Sonnenfeld, Senior Associate Dean for Leadership Studies & Lester Crown Professor in the Practice of Management

We do have some clues [as to Hillary Clinton’s potential cabinet appointees] from her time in the State Department… If you look at just the stats, a third of the individuals at the highest levels at the State Department did come from the financial industry, which is unusual… Going from a historical average of 13% to 30% [of individuals from the financial industry in these positions] is significant. It is something we should be worried about… Hillary has said she will not rule out nominating people from the financial industry in her cabinets. We might wonder, do these people actually have the requisite expertise to be in these positions? Is this somewhat of a liability to us as a country?Ivana Katic, Assistant Professor of Organizational Behavior

The reason a guy like Donald Trump can get within one step of the most important job in the Western world has a great deal to do with the hollowing out of the major American political parties, after the McGovern-Fraser Commission [1968-72] replaced nominations by politicians with primary elections, allowing insurgents with money to take over the parties while ignoring party leadership. Trump walked all over the Republican leadership and more or less kidnapped the GOP.Douglas Rae, Richard S. Ely Professor of Management and Professor of Political Science

The Chinese are more fearful of a Clinton presidency than of Trump. They believe they could at least cut a deal with [Trump]. As president, they believe that [Clinton’s] deeper convictions—especially her record on human rights, but also her concerns about making the distinction between free trade and fair trade—are going to make her more intractable.Stephen Roach, Senior Lecturer & Senior Fellow, Jackson Institute for Global Affairs 

In a cyclical sense, things have gone in the right direction over the last five years: the unemployment rate has gone down and the inflation rate has been relatively stable, but the underlying trends are not nearly so good… One is that productivity growth has been very slow in recent years…and the distribution of income has clearly deteriorated over the last generation… The U.S. on average has done OK, but that average masks the fact that you have a big chunk of the population that has experienced stagnation of incomes for a long time—there is a lot of anger there, and that anger has driven the Trump campaign, and it drove Bernie Sanders.William English, Senior Special Advisor for Monetary Policy, Board of Governors, Federal Reserve System;
Visiting Faculty Member, Department of Economics, Yale University

About the Event

The Business and Politics Club hosts a pre-Election Day special event bringing together some of SOM’s best professors to discuss the 2016 election, major campaign issues and policy debates, and what we can expect in 2017 and beyond when the next president takes office. Panelists include: 

Jeffrey Sonnenfeld 
Professor Sonnenfeld is currently the senior associate dean of leadership programs as well as the Lester Crown Professor in the Practice of Management for the Yale School of Management. He is also the founder and president of the Chief Executive Leadership Institute, a nonprofit educational and research institute focused on CEO leadership and corporate governance. He is an expert in leadership and management styles and strategies, and is a noted Donald Trump whisperer. 

Douglas Rae
Professor Rae is a student of the interface between business and government. He has served on the Yale faculty since 1967, chairing the political science department during the 1980s. He took public service leave in 1990 and 1991 to serve as chief administrative officer of New Haven during a crisis period. He has been awarded a Guggenheim Fellowship, was a fellow of Stanford’s Center for Advanced Study in the Behavioral Sciences, a fellow of the Netherlands Institute for Advanced Study, and has received numerous honors and prizes for his research. He has consulted widely and variously to the parliaments of Spain, Italy, and the Netherlands Antilles; to select corporate leaders; to numerous American cities and universities; and to the BBC.

Stephen Roach
Professor Roach is a senior fellow at Yale University’s Jackson Institute of Global Affairs and a senior lecturer at Yale School of Management. He was formerly chairman of Morgan Stanley Asia and the firm’s chief economist for the bulk of his 30-year career at Morgan Stanley, heading up a highly regarded team of economists around the world. Roach’s current teaching and research program focuses on the impacts of Asia on the broader global economy. At Yale, he has introduced new courses for undergraduates and graduate students on the “The Next China” and “The Lessons of Japan.” His writing and research also addresses globalization, trade policy, the post-crisis policy architecture, and the capital markets implications of global imbalances.

Ivana Katic
Professor Katic’s research interests lie at the intersection of non-market strategy and organizational theory. More specifically, she focuses on the interactions between firms and governments, particularly in terms of employee mobility across the public and the private sectors. Within different empirical contexts, her research has explored the antecedents and consequences of the revolving door, a type of employee movement from regulatory bodies to regulated firms, and vice versa. Her other projects delve into topics within organizational theory, including the relationship between income inequality and subjective wellbeing.

• William English 
Professor English has served at the Board of Governors of the Federal Reserve System for more than 20 years and has held a range of positions, including director of the Division of Monetary Affairs and secretary to the Federal Open Market Committee from 2010 to 2015. In that position, English oversaw the development of monetary policy, working extensively on issues related to asset purchases, policy normalization, and policy communication. Prior to joining the Federal Reserve, he taught at the University of Pennsylvania and the University of Chicago. English earned a PhD in Economics from the Massachusetts Institute of Technology in 1986. 

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