Nominee's Background:
Geoffrey M. Heal is Paul Garrett Professor of Public Policy and Corporate Responsibility and professor of finance and economics at the Graduate School of Business at Columbia University, where he was previously Senior Vice Dean. Dr. Heal has taught at Yale, Stanford, and Princeton, as well as at Cambridge, Sussex, and Essex Universities in the UK. He was managing editor of the Review of Economic Studies, is a Fellow of the Econometric Society, has published 13 books and 150 articles on economic theory and environmental economics, and is a commissioner of the Pew Oceans Commission. He chairs a National Academy committee that is reporting on the valuation of services provided by natural ecosystems. His recent environmental research focuses on market-based incentives for conservation and biodiversity protection. His latest books, Valuing the Future and Nature and the Marketplace, provide an economic framework for thinking about sustainability. Professor Heal also conducts research on national security issues.
Nominating Speech:
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Progressive Criteria:
The Department of Commerce will:
Promote commerce to enhance citizens' lives, not simply to enrich investors;
Promote decent, well-paying, environmentally sustainable jobs;
Take the initiative in developing a Genuine Progress Indicator to replace GDP which does not adequately distinguish between good growth and destructive trends; Work to provide new guarantees for pension security;
Support very small businesses, minority and women-owned businesses;
Direct and manage the patent and trademark system to promote the common good by promoting valuable inventions, research and intellectual exchangee, as a higher priority than protecting corporate profits.
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