SOURCE: Columbia Business School

Columbia Business School

May 24, 2016 11:00 ET

Ben Bernanke, Former Federal Reserve Chair, Receives Columbia Business School's 2016 George S. Eccles Prize for Economic Writing

NEW YORK, NY--(Marketwired - May 24, 2016) - Columbia Business School announced the selection of Ben Bernanke, former chair of the Federal Reserve Bank, as recipient of its 2016 George S. Eccles Prize for Economic Writing. Instituted to foster greater interest in and public discourse about economic theory, practice, and issues, the George S. Eccles Prize is awarded annually to the author(s) of the best book on economics that bridges theory and practice. The ceremony was held on the campus of Columbia University, New York, NY.

In 2007, the US housing bubble burst, exposing vulnerabilities in the global financial system and leading to unprecedented events in both the United States and world economies. For Ben Bernanke, who had been appointed chair of the Federal Reserve the year before, these events and the efforts to keep the economy afloat would take him on an unexpected journey. Chosen for his book, The Courage to Act: A Memoir of a Crisis and Its Aftermath, Bernanke shares details of his decision-making process and how the Fed and its counterparts prevented an economic collapse. Following the award presentation, a candid discussion and question-and-answer session led by Glenn Hubbard, Dean and Russel L. Carson Professor of Finance and Economics, took place.

Established in 1986 by Spencer Eccles, chairman and chief executive of First Security Corporation of Salt Lake City, Utah, the George S. Eccles Prize for Excellence in Economic Writing honors his uncle, George Eccles, a 1922 graduate of Columbia Business School. The selection is made by a committee of Columbia Business School faculty members and a member of the Eccles family and is based on the academic rigor and accessibility of the author's material.

Previous honorees include Joseph Stiglitz and Bruce Greenwald for Creating a Learning Society: A New Approach to Growth, Development, and Social Progress; Jagdish Bhagwati and Arvind Panagariya for Why Growth Matters; Daron Acemoglu and James A. Robinson for Why Nations Fail: The Origins of Power, Prosperity, and Poverty; and Henry Kissinger for Henry Kissinger on China. The event is organized by the School's Jerome A. Chazen Institute for Global Business.

About Columbia Business School

Columbia Business School is the only world-class, Ivy League business school that delivers a learning experience where academic excellence meets with real-time exposure to the pulse of global business. Led by Dean Glenn Hubbard, the School's transformative curriculum bridges academic theory with unparalleled exposure to real-world business practice, equipping students with an entrepreneurial mindset that allows them to recognize, capture, and create opportunity in any business environment. The thought leadership of the School's faculty and staff members, combined with the accomplishments of its distinguished alumni and position in the center of global business, means that the School's efforts have an immediate, measurable impact on the forces shaping business every day. To learn more about Columbia Business School's position at the very center of business, please visit

The Jerome A. Chazen Institute for Global Business

The Jerome A. Chazen Institute for Global Business at Columbia Business School draws on the expertise of world-class faculty members and business leaders to help shape the thinking and discourse on major global business issues. By sharing its thought leadership, training the next generation of global leaders, and supporting major research, the Chazen Institute serves as a gateway to the people and ideas that transform the international marketplace. For more information, please visit

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