Princeton University has announced a $5.6 million gift from alumnus William H. Janeway ('65) to establish a fund that supports collaborative teaching and research in finance and other areas of economics.
The William H. Janeway Fund for Bridging Finance, Monetary Economics, and the Real Economy at Princeton will be used to strengthen the interaction between finance and other areas of economics that have diverged over the last three decades. To that end, the fund will support a broad array of teaching and research efforts, including courses at the doctoral level that transcend traditional, narrowly defined categories such as finance, macroeconomics, and economic theory. Research supported by the fund is expected to help clarify connections between the financial markets, such as stock prices and interest rates, and the things that impact most citizens, such as jobs, services, and the production of goods. The gift also will provide funding for visiting faculty members, postdoctoral researchers, and graduate students, as well as for travel and technology.
A senior adviser and managing director at the private equity firm Warburg Pincus, Janeway is the author of Doing Capitalism in the Innovation Economy, which was named one of the best economics books of 2012 by the Financial Times. He earned a doctorate in economics from the University of Cambridge, where he was a Marshall Scholar, and was valedictorian of his Princeton class. A visiting lecturer in the economics department at Princeton, Janeway also serves as a member of the advisory board of the university’s Bendheim Center for Finance.
"The financial crisis of 2008, the Great Recession that it triggered, and their aftermath have highlighted the crucial interplay between finance and other fields of economic research," said Princeton president Christopher L. Eisgruber. "We are grateful to Bill Janeway, who has himself authored an insightful book on these connections, for this generous gift, which will catalyze deeper exploration and understanding of the relationship between finance and other domains of economics."