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The Brookings Institution is a private nonprofit organization devoted to research, education, and publication on important issues of domestic and foreign policy. Its principal purpose is to bring the highest quality independent research and analysis to bear on current and emerging policy problems. The Institution was founded on December 8, 1927, to merge the activities of the Institute for Government Research, founded in 1916, the Institute of Economics, founded in 1922, and the Robert Brookings Graduate School of Economics and Government, founded in 1924. Interpretations or conclusions in Brookings publications should be understood to be solely those of the authors. the brookings institution Board of Trustees John L. Thornton Chair Strobe Talbott President Robert J. Abernethy Zoë Baird Alan R. Batkin Richard C. Blum Geoffrey T. Boisi Arthur B. Culvahouse Jr. Alan M. Dachs Kenneth W. Dam Vishakha N. Desai Thomas E. Donilon Mario Draghi Kenneth M. Duberstein Lawrence K. Fish Cyrus F. Freidheim Jr. David Friend Ann M. Fudge Jeffrey W. Greenberg Brian L. Greenspun Teresa Heinz Samuel Hellman Glenn H. Hutchins Joel Z. Hyatt Shirley Ann Jackson Kenneth M. Jacobs Suzanne Nora Johnson Harold Hongju Koh William A. Owens Frank H. Pearl John Edward Porter Steven Rattner Edgar Rios Haim Saban Leonard D. Schaeffer Lawrence H. Summers David F. Swensen Larry D. Thompson Andrew H. Tisch Laura D’Andrea Tyson Antoine W. van Agtmael Beatrice W. Welters Daniel Yergin Honorary Trustees Leonard Abramson Elizabeth E. Bailey Rex J. Bates Louis W. Cabot James W. Cicconi A. W. Clausen William T. Coleman Jr. D. Ronald Daniel Robert A. Day Bruce B. Dayton Charles W. Duncan Jr. Walter Y. Elisha Robert F. Erburu Bart Friedman Henry Louis Gates Jr. Robert D. Haas Lee H. Hamilton William A. Haseltine F. Warren Hellman Robert A. Helman Roy M. Huffington James A. Johnson Ann Dibble Jordan Michael H. Jordan Vernon E. Jordan Jr. Breene M. Kerr Marie L. Knowles James T. Lynn Jessica Tuchman Mathews David O. Maxwell Donald F. McHenry Robert S. McNamara Mary Patterson McPherson Arjay Miller Mario M. Morino Maconda Brown O’Connor Samuel Pisar J. Woodward Redmond Charles W. Robinson James D. Robinson III Judith Rodin Warren B. Rudman B. Francis Saul II Ralph S. Saul Henry B. Schacht Michael P. Schulhof Joan E. Spero Vincent J. Trosino John C. Whitehead Stephen M. Wolf James D. Wolfensohn Ezra K. Zilkha ...

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