Larry Summers, the former Treasury secretary and Harvard president, has long been a thorn in the side of progressives and leftists. In his book "Adults in the Room," Yanis Varoufakis recounts a conversation with Summers that raises disturbing questions about the economist's judgment and values.
Summers' "sacrosanct rule" - never turning against other insiders and never talking to outsiders about what insiders say or do - has taken on a sinister tone in light of his long-standing friendship with Jeffrey Epstein, a convicted sex trafficker. The fact that Summers continued this relationship even as he was advising President Bill Clinton and later Barack Obama on economic policy is a deeply disturbing revelation.
The irony is not lost on many observers who have watched Summers' career, which has been marked by a series of self-inflicted crises. His infamous memo to the World Bank in the 1990s, which argued that dumping toxic waste in the lowest wage country was "impeccable logic," is just one example of his callousness and disregard for human life.
Summers' later excuse for writing this memo - claiming it was a thought experiment meant to stimulate internal debate - rings hollow. The fact remains that he signed the document, which has been widely ridiculed as a callous and tone-deaf statement.
More recently, Summers faced backlash after giving a speech on the paucity of women in science and engineering, which some interpreted as perpetuating sexist stereotypes about female intelligence and abilities. His dismissive comments about women's aptitude for high-powered roles are nothing short of shameful.
Despite his many scandals, Summers has continued to rise through the ranks, earning the nickname "Larry being Larry." But whose judgment is really failing here? Is it Summers' own poor decision-making, or the politicians who have repeatedly fawned over him despite his questionable record?
The truth about Larry Summers is that he has been a force of recklessness and destruction in global finance and economics. His influence on deregulation and privatization policies has led to devastating consequences, including the 2008 financial crisis.
It's time for Summers to take responsibility for his actions, rather than simply offering half-hearted apologies. Until then, we will continue to question whose judgment is failing - Larry Summers' or our own.
Summers' "sacrosanct rule" - never turning against other insiders and never talking to outsiders about what insiders say or do - has taken on a sinister tone in light of his long-standing friendship with Jeffrey Epstein, a convicted sex trafficker. The fact that Summers continued this relationship even as he was advising President Bill Clinton and later Barack Obama on economic policy is a deeply disturbing revelation.
The irony is not lost on many observers who have watched Summers' career, which has been marked by a series of self-inflicted crises. His infamous memo to the World Bank in the 1990s, which argued that dumping toxic waste in the lowest wage country was "impeccable logic," is just one example of his callousness and disregard for human life.
Summers' later excuse for writing this memo - claiming it was a thought experiment meant to stimulate internal debate - rings hollow. The fact remains that he signed the document, which has been widely ridiculed as a callous and tone-deaf statement.
More recently, Summers faced backlash after giving a speech on the paucity of women in science and engineering, which some interpreted as perpetuating sexist stereotypes about female intelligence and abilities. His dismissive comments about women's aptitude for high-powered roles are nothing short of shameful.
Despite his many scandals, Summers has continued to rise through the ranks, earning the nickname "Larry being Larry." But whose judgment is really failing here? Is it Summers' own poor decision-making, or the politicians who have repeatedly fawned over him despite his questionable record?
The truth about Larry Summers is that he has been a force of recklessness and destruction in global finance and economics. His influence on deregulation and privatization policies has led to devastating consequences, including the 2008 financial crisis.
It's time for Summers to take responsibility for his actions, rather than simply offering half-hearted apologies. Until then, we will continue to question whose judgment is failing - Larry Summers' or our own.