Larry Summers: Banned for Epstein, Not for Economic Havoc
According to The Hill, Summers' ban stems from a 2021 investigation into his financial ties to sex offender Jeffrey Epstein, where he allegedly received payments for an academic paper from a charitable trust tied to Epstein. It’s certainly a stain. But let's pause. This is the same Larry Summers who, as Treasury Secretary, pushed for the repeal of Glass-Steagall, an act widely criticized for
enabling the very financial deregulation that led to the 2008 crash. The same man who, as Harvard President, infamously suggested women might be inherently less capable in science and engineering. So, the AEA bans Summers for association with Epstein. A clear cut, morally unambiguous win, perhaps. Yet, how many lives were truly impacted by an Epstein-funded paper versus, say, the fallout from the
Glass-Steagall repeal that contributed to millions losing their homes, jobs, and savings? The optics are pristine for the AEA: ban the 'Epstein guy.' The reality—that Summers' economic policies have had far more devastating, systemic effects—remains unaddressed. It seems some economic 'crimes' are just too establishment to penalize.