Mastercard CEO: The Rich Should Ride The Bus - Forbes

Mastercard CEO: The Rich Should Ride The Bus - Forbes: "The setting was the first Chicago Forum on Global Cities, and Banga’s remarks followed a debate between the two former treasury secretaries about the relative impact of urban and national policies on growth (video).

With most of the world’s population now living in cities, and billions more expected, Hank Paulson insisted manageable growth depends on well-planned cities.

Robert Rubin contended that national policies have more influence.

For example, Paulson said the environmental footprint of cities would “drive the outcome” of climate change or climate mitigation, and Rubin disagreed:

“It seems to me that the single most important thing we can do is change the price of carbon,” Rubin said, “and that can only be done at the federal level.”

 Rubin served as treasury secretary from 1993-99, Paulson from 2006-09. Both men worked together at Goldman Sachs in the 1970s and 80s.

“You need enlightened national policies, I don’t want to even debate that,” Paulson agreed, ”but we are going to have a heck of a mess on our hands if we don’t get the urbanization policies right.”"



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