MiddBriefs

Author: Miles Abdilla and Ian Trombulak

PROFESSORS EASE STUDENTS' FINANCIAL FEARS

In response to a bombardment of questions from both students and faculty members regarding the state of the U.S. economy, Professors of Economics David Colander, Peter Matthews, Scott Pardee and Bob Prasch held a discussion panel on Oct. 1 at Dana Auditorium. Aptly titled "The Financial Crisis" the professors hoped to answer the simple question: what is going on with the economy?

"What got us into this [financial crisis] is greed," said Pardee. He added that Americans, in buying new homes, relied on mortgage brokers that offered subprime loans to consumers who were not necessarily able to pay for it. What ensued from this risk were scams and fraud. "Finally, the market collapsed," Pardee continued, "and as prices began to fall, people didn't want to buy. This is greed."

With no credit and no capital and with failing firms such as Wachovia, what can be done? Matthews suggested the Paulson plan-giving $700 billion for U.S. Secretary of Treasury Henry Paulson to spend. "If we're going to do socialism," said Matthews, "we should do it right."

Associate Professor Prasch shifted the discussion to areas that college students can relate to. "Students and poor folks tend to have unmet needs," said Prasch, "[Students] are reliable spenders." Money given to students will no doubt be spent. This spending will go to the infrastructure and, as Matthews stated, "what we ought to get is wholesale infrastructure investment. [A] crumbling infrastructure is an impediment to long run growth."

CARBON NEUTRALITY 101 FOR PARENTS' WEEKEND

Professor of Physics and Environmental Science Rich Wolfson gave a lecture for parents and students on Oct. 3 in the Axinn Center regarding climate change in the world and the College's own goal to be carbon neutral by 2016.

Wolfson, who describes himself not as an "environmental activist, but really just a scientist," spent the first half of the talk explaining how we know we're experiencing a significant climate change, why it's happening and what can be done to counteract it. He indicated weather patterns and certain biological indicators, including coral reef bleaching and the increase in the growing season, as signs that global climate change "is occurring in a very real way.

The talk then moved to what the College is doing to reduce its own carbon footprint.

"Vermont doesn't release much carbon from electrical sources," Wolfson commented, belaying many peoples' assumptions that wind turbines and solar panels may be enough to counteract a large chunk of emissions. Instead, Wolfson noted, "we are planning to reduce by a million gallons the amount of #6 oil used on this campus." This plan comes in the form of the $12 million Biomass Gasifier & Boiler currently set to open in January of this year, which would cut in half the largest contributor to carbon emissions on campus.

"Our red buildings are a huge disaster right now," continued Wolfson, referring to buildings like Munroe Hall, which are out of date and should, he says, be made more environmentally friendly through increased insulation.

The lecture drew a full crowd of students and parents, including Ellen Coccoma '75, who is "very interested in energy conservation" and "very intrigued by the idea that the College is trying to go carbon neutral." The engaged crowd seemed to share Coccoma's view of Wolfson as a "great lecturer," and questions continued following the conclusion of the lecture of roughly 10-20 minutes.