Time For Some New Thinking, Mr. Rubin

As U.S. Treasury Secretaries go, Robert E. Rubin has got to be one of the best. His old-fashioned fiscal rectitude helped transform federal budget deficits "as far as the eye could see" into surpluses that reach deep into the next century. Along the way, he helped set the stage for the longest peacetime economic expansion in history. Rubin's deep knowledge of markets, at a time when markets define so much of our lives, makes him a bastion of confidence to the business community. And his personal modesty is matched by a less-is-more approach to policy. Pick an issue, from tax reform to bank reform, from restructuring the IRS to redesigning the international financial architecture, and he invariably chooses a minimalist approach. Rubin's caution often serves him, the United States, and the global economy, well.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.