Lawrence Summers

Profile: Full name: Lawrence Henry Summers Area of interest: Economics Journals/Organisation: Financial Times Email: Lawrence_Summers@ksg.harvard.edu; contacts page Personal website: Harvard KSG faculty website: Lawrence H. Summers Websites: Blog: http://blogs.reuters.com/lawrencesummers Representation: Networks: https://twitter.com/#!/lhsummers

Biography: About: American economist and academic. He served as the 71st United States Secretary of the Treasury from 1999 to 2001 under President Bill Clinton. He was Director of the White House United States National Economic Council for President Barack Obama until November 2010. He is the Charles W. Eliot University Professor at Harvard University's Kennedy School of Government. Education: Massachusetts Institute of Technology: BSc, 1975; Harvard: Ph.D. Economics, 1982; Charles W. Eliot University Professor at Harvard University Career: Senior public policy positions in US: political economist - President’s Council of Economic Advisers; chief economist, World Bank; Secretary of US Treasury, 1999-2001; 27th president of Harvard University, 2001/2006; Harvard University Charles W. Eliot University Professor, Kennedy School; since 2009 is Director of the White House's National Economic Council for President Barack Obama see Harvard KSG faculty website: BIO | CV (pdf) Current position/role: (former FT chief economics commentator) also writes/has written for: Other roles/Main role: Harvard University Charles W. Eliot University Professor, Kennedy School Other activities: Part-time Managing Director of D.E. Shaw & Co Disclosures: Viewpoints/Insight: Renaissance man, Guardian interview, 2005 Harvard KSG faculty website: speeches Broadcast media: Video: Controversy/Criticism: Larry Summers is playing economic Jeopardy - Larry Summers’ considerable intellect suggests that he would be an excellent contestant on the popular game show Jeopardy. Of course, on the show, the question offered by the contestant must match the answer on the board. Summers and I disagree on the answer that matches the question “What is President Obama’s budget?” Let’s see why - Glen Hubbard, FT, 27th April 2012 Change means possibility and pain - 'Change within organisations always and everywhere involves loss. Sometimes the loss is small, as when the boss asks us to give up a familiar routine or move to a distant corner of the building. Sometimes it is of existential proportions, as when a new assignment challenges us to reconsider our values, status and career. Either way, distress is the inevitable result' - Simon London, Financial Times, 28th February 2006 Harvard row over sex and science - 'The president of Harvard University has caused a stir among academics by suggesting women have less innate ability at science and maths than men' - BBC News, 18th Januay 2005 see also: controversies - Wikipedia Awards/Honours: John Bates Clark Medal, 1993 - given every two years to most outstanding American economist under forty years of age Scoops: Other:

Books & Debate: Understanding unemployment OCLC 15487448, 1990 Development and the environment OCLC 26146265, 1992 Investing in all the people: Educating women in developing countries OCLC 45730902, 1994 (e.book) Curbing predatory home mortgage lending: a joint report OCLC 45177710, 2000 Renewing the Atlantic partnership OCLC 55110672, 2004 (with Henry Kissinger; Charles Kupchan) Harvard business review on leadership in a changed world OCLC 53330764, 2004 (with C.K. Prahalad; Moss Kanter) Forthcoming work: A Climate of Change Hamilton Project Ideas on Energy Security and Climate OCLC 231581671, 2009 (with Jason Furman, senior economic adviser to Barack Obama in his President campaign of 2008) see also MIT Press | Amazon.com Latest work: Speaking/Appearances: Debate:

Financial Times: Column name: Remit/Info: Economics Section: Comment Role: Contributor (former Chief economics commentator) Pen-name: Email: Website: FT.Com / Lawrence Summers Commissioning editor: Day published: Monday Regularity: Monthly Column format: Average length: 900 words

Articles: 2012 Growth not austerity is best remedy for Europe - The A-List: Treat symptoms not causes to make a patient worse. So it is in Europe - 30th April Romney must release a credible budget - Voters should have a chance to choose between clear alternatives - 27th April How to ensure stimulus today, austerity tomorrow - The A-List: Contingent plans can state near-term expansion and medium-term prudence - 26th March The US tax system needs rebuilding - For many observers, the central question in debates over deficit reduction is what can be done about entitlements. Growth in spending associated with an ageing population will be the major factor fuelling the growth of federal spending - 27th February Economic uncertainty is no excuse for inaction - The A-List: Increasing demand is the way back to economic health - 24th January We need smart reinvention not destruction - Capitalism in crisis: I suspect that if and when macro-economic policies are appropriately adjusted, much of the contemporary concern will fade away - 9th January Current woes call for smart reinvention not destruction - The A-List: How justified is disillusionment with market capitalism? - 9th January

Articles: 2011 IMF must play its part in any euro solution - The A-List: Banks must be recapped to save global economy - 9th December Five grim and essential lessons for world leaders - What can be learnt from the past three years as the G20 gathers in Cannes? The world’s leaders, especially the Europeans, will ignore the following lessons at their peril - 3rd November Why the housing burden stalls America’s economic recovery - The A-List: Allowing negotiation over the past to dominate present policy creates overhangs of much uncertainty - 24th October The world must insist that Europe act - A continuation of the grudging incrementalism of the past two years now risks catastrophe - 19th September How to avoid our lost decade - 20th August Relief at an agreement will give way to alarm - With growth less than 1%, economy is at stall speed - 3rd August How to save the eurozone - No country is going to generate huge primary surpluses for long periods for the benefit of foreign creditors - 18th July Time is of the essence, any US budget deal will do - The A-List: With the US economy as weak as it is, any agreement must be pushed forward as soon as possible - 13th July How to avoid our own lost decade - Within years of the two deep postwar recessions, the US grew in the range of 6%. Today that seems inconceivable - 13th June

Articles: 2010 America’s sensible stance on recovery - The combination of measures proposed offers the best prospect for moving the economy forward - 19th July

Articles: 2008 The pendulum swings towards regulation - There will be an enhanced role for government in saving the system from its excesses and inadequacies but policymakers need to be attentive to potential government flaws - 27th October 2008 Taxpayers can gain from bail-out - The idea has taken hold that the US will have to scale back its aspirations in areas such as healthcare. This is more wrong than right - 29th September 2008 The global consensus on trade is unravelling - The success of the next administration could depend on its ability to engage with a wider range of global economic stakeholders - 25th August 2008 The way forward for Fannie and Freddie - The choices made in the coming months will bear on the housing market, future taxpayers and the integrity of the political system - 28th July 2008 What we can do in this dangerous moment - The policy choices made in the next few months will matter to America’s economic strength and to the global economy - 30th June 2008 Six principles for a new regulatory order - Lawrence Summers joins the debate on proposed changes in regulation and crisis response by describing the properties of any desirable oversight regime - 1st June 2008 A strategy to promote healthy globalisation - US international economic policy needs to focus on issues in which the largest number of Americans have the greatest stake - 5th May 2008 America needs to make a case for trade - A model is needed that more successfully aligns the interests of people in rich countries with the success of the global economy - 28th April 2008 Steps that can safeguard America's economy - Neither US financial institutions nor the economy are likely to suffer from a lack of central bank liquidity provision - 31st March 2008 America needs a way to stem foreclosures - The American economic outlook remains highly uncertain. But macro­economic policy is now properly aligned, as the economy will benefit over the next several quarters from fiscal and monetary stimulus - 25th February 2008 Beyond fiscal stimulus, further action is needed - Markets and perceptions of the economic outlook change rapidly. Even two months ago most observers doubted predictions of a US recession, saw no need for a fiscal stimulus, and thought that inflation fears should constrain monetary policy - 28th January 2008 also: Harvard KSG faculty website: publications/articles (archive)

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Links: Wikipedia biog. Summers’ departure opens door for new ideas - In a few weeks, Mr Summers will move back to Harvard where he will be able to think up good ideas without having to second guess what the political traffic will bear, Edward Luce in the FT, 23rd September Lunch with the FT: Larry Summers By Chrystia Freeland, 10th July 2009 Larry Summers: Can he make the sums add up?, profiled by Rupert Cornwell in The Independent, 14th March 2009 Lawrence Summers and the Battle for the World's Most Powerful University, ISBN 0060568542 by Richard Bradley Why Larry Summers could be a good Treasury Secretary - John Gapper, Financial Times, 7th November 2008