Thursday, September 24, 2009
Dr. David Cushman, Westminster College professor and chair of the Department of Economics and Business, presented a paper at the Business School of Oxford Brookes University, Oxford, England, in July.
Cushman's paper, "Government Debt, International Debt, and the U.S. Dollar Exchange Rate with Canada and the World," shows how the purchasing power of the U.S. dollar in other countries has moved inversely over time with changes in U.S. government debt and U.S. international debt. More debt is associated with a weaker dollar and less purchasing power.
According to Cushman, the finding is particularly troublesome in light of the large increases in federal debt forecast under several versions of health care reform currently being considered. "We could end up paying a lot more for our imports and receiving a lot less for our exports," Cushman said.
Cushman, who holds the Captain William McKee Chair of Economics and Business, has been with Westminster since 2005. He earned an undergraduate degree from Stetson University and a master's and Ph.D. from Vanderbilt University.
Before coming to Westminster, he taught at the University of New Orleans, the University of North Carolina, Vanderbilt University, the University of South Florida, and the University of Saskatchewan (Canada).
Contact Cushman at (724) 946-7169 or e-mail email@example.com for additional information.
About Westminster College...
Founded in 1852 and related to the Presbyterian Church (U.S.A.), Westminster College is a top tier liberal arts college and a national leader in graduation rate performance, according to U.S. News Guide to America's Best Colleges. Westminster ranked third among liberal arts colleges in social mobility, according to the Washington Monthly College Guide, and is one of the most affordable national liberal arts colleges in Pennsylvania. Westminster is also honored as one of "The Best 371 Colleges" and "Best in the Northeast" by The Princeton Review, and is named to the President's Honor Roll for excellence in service learning.
Nearly 1,600 undergraduate and graduate students benefit from individualized attention from dedicated faculty while choosing from 41 majors and nearly 100 organizations on the New Wilmington, Pa., campus.