Dear fellow graduating students: Congratulations! Alumni from this institute have unique leverage in shaping how people think. This capital has been earned, over almost a century and a half, by the hard work, integrity, and accomplishments of the women and men who have passed through these corridors. So how will you spend this precious currency?
Over the past few years, the paean to the rapid expansion of emerging economies has reached a crescendo. The excitement is palpable and everywhere. And unlike the similar frenzy about “Asian Tigers” in the mid-90s, this seems to be no swan song. The fate of the first world is now inextricably linked with these countries. The debate if the world is, or should be flat is passé. The more interesting question concerns our impact in this world.