American economist and government official (born 1954)
Lawrence Summers
Summers in 2012
8th Director of the National Economic Council
In office January 20, 2009 – January 20, 2011
President
Barack Obama
Deputy
Diana Farrell Jason Furman
Preceded by
Keith Hennessey
Succeeded by
Gene Sperling
27th President of Harvard University
In office July 1, 2001 – June 30, 2006
Preceded by
Neil Rudenstine
Succeeded by
Derek Bok
71st United States Secretary of the Treasury
In office July 2, 1999 – January 20, 2001
President
Bill Clinton
Deputy
Stuart E. Eizenstat
Preceded by
Robert Rubin
Succeeded by
Paul H. O'Neill
7th United States Deputy Secretary of the Treasury
In office August 11, 1995 – July 2, 1999
President
Bill Clinton
Preceded by
Frank N. Newman
Succeeded by
Stuart E. Eizenstat
Under Secretary of the Treasury for International Affairs
In office April 5, 1993 – August 11, 1995
President
Bill Clinton
Preceded by
David Mulford
Succeeded by
Michael Bruno
Chief Economist of the World Bank
In office January 14, 1991 – January 14, 1993
President
Barber Conable Lewis Thompson Preston
Preceded by
Stanley Fischer
Succeeded by
Michael Bruno
Personal details
Born
Lawrence Henry Summers
(1954-11-30) November 30, 1954 (age 69) New Haven, Connecticut, U.S.
Political party
Democratic
Spouses
Victoria Perry
(m. 1984; div. 2003)
Elisa New
(m. 2005)
Children
3
Education
Massachusetts Institute of Technology (BS) Harvard University (MA, PhD)
Signature
Academic career
Institution
Harvard University London School of Economics
Field
Macroeconomics
School or tradition
New Keynesian economics
Doctoral advisor
Martin Feldstein
Doctoral students
Alan Krueger, Kiminori Matsuyama, James R. Hines Jr., Rhee Chang-yong
Awards
John Bates Clark Medal (1993)
Information at IDEAS / RePEc
Academic background
Thesis
An asset price approach to the analysis of capital income taxation (1982)
Doctoral advisor
Martin Feldstein
Lawrence Henry Summers (born November 30, 1954) is an American economist who served as the 71st United States Secretary of the Treasury from 1999 to 2001 and as director of the National Economic Council from 2009 to 2010. He also served as president of Harvard University from 2001 to 2006,[1][2] where he is the Charles W. Eliot University Professor and director of the Mossavar-Rahmani Center for Business and Government at Harvard Kennedy School.[1][3][4] In November 2023, Summers joined the board of directors of artificial general intelligence company OpenAI.[5]
Summers became a professor of economics at Harvard University in 1983. He left Harvard in 1991, working as the Chief Economist of the World Bank from 1991 to 1993.[6][7][1] In 1993, Summers was appointed Under Secretary for International Affairs of the United States Department of the Treasury under President Bill Clinton's administration. In 1995, he was promoted to Deputy Secretary of the Treasury under his long-time political mentor Robert Rubin. In 1999, he succeeded Rubin as Secretary of the Treasury.[7][1][8] While working for the Clinton administration, Summers played a leading role in the American response to the 1994 economic crisis in Mexico, the 1997 Asian financial crisis, and the Russian financial crisis. He was also influential in the Harvard Institute for International Development and American-advised privatization of the economies of the post-Soviet states, and in the deregulation of the U.S financial system, including the repeal of the Glass-Steagall Act.
Following the end of Clinton's term, Summers served as the 27th president of Harvard University from 2001 to 2006. Summers resigned as Harvard's president in the wake of a no-confidence vote by Harvard faculty, which resulted in large part from Summers's conflict with Cornel West, financial conflict of interest questions regarding his relationship with Andrei Shleifer, and a 2005 speech in which he offered three reasons for the under-representation of women in science and engineering, including the possibility that there exists a "different availability of aptitude at the high end", in addition to patterns of discrimination and socialization.[9]
After his departure from Harvard, Summers worked as a managing partner at the hedge fund D. E. Shaw & Co. Summers rejoined public service during the Obama administration, serving as the Director of the White House United States National Economic Council for President Barack Obama from January 2009 until November 2010, where he emerged as a key economic decision-maker in the Obama administration's response to the Great Recession.[7][1]
^ abcde"Lawrence H. Summers," Harvard Kennedy School, Harvard University, retrieved March 31, 2017
^"Historical Facts", Harvard University, retrieved March 31, 2017
^[https://www.directory.harvard.edu/phonebook/getDetails.do?
On September 20, 2022 he asked a question on Twitter: “There is some social phenomenon which I suspect explains non work, non marriage, deaths of despair, general alienation and, I suspect, the rise of reactionary populism. It should be a major task of social science to understand it.”This question demonstrates the large gap in his knowledge about the Karl Marx theory of alienation, which Summers, as an economist should be aware of. [https://www.marxists.org/archive/marx/works/1844/manuscripts/preface.htm
key=SUMMERS, LAWRENCE Listing Detail: "Lawrence H. Summers,"] Public Harvard Directory, retrieved March 31, 2017
^Summers, Lawrence H. and John A. Haigh "From the Directors," About section, Mossavar-Rahmani Center for Business and Government, Harvard Kennedy School of Government, Harvard University, retrieved March 31, 2017
^Dastin, Jeffrey; Soni, Aditya (November 22, 2023). "Sam Altman to return as OpenAI CEO after his tumultuous ouster". Reuters.
^"Former Chief Economists" Archived November 4, 2017, at the Wayback Machine, Data & Research office, The World Bank, retrieved March 31, 2017
^ abc"Lawrence H. Summers", World Bank Live, The World Bank, retrieved March 31, 2017
^"Lawrence Summers (1999 - 2001)," U.S. Treasury Department, Last Updated: November 20, 2010, retrieved March 31, 2017
^"Full Transcript: President Summers' Remarks at the National Bureau of Economic Research, Jan. 14 2005". The Harvard Crimson. February 18, 2005. Retrieved January 25, 2022.
Lawrence Henry Summers (born November 30, 1954) is an American economist who served as the 71st United States Secretary of the Treasury from 1999 to 2001...
The Summers memo was a 1991 memo on trade liberalization that was written by Lant Pritchett and signed by LawrenceSummers who was then Chief Economist...
economist and former U.S. Treasury Secretary LawrenceSummers became president of Harvard. Soon after, Summers held a private meeting with West, in which...
faculty at Yale University. Robert Summers was married to Anita Summers. Their son is LawrenceSummers. Robert Summers' brother was Paul Samuelson. (Their...
resided in Miami, Florida. On December 11, 2005, she married economist LawrenceSummers. The Regenerate Lyric: Theology and Innovation in American Poetry....
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Economics and Government. She also met Professor LawrenceSummers, who became her mentor and thesis adviser. Summers recruited her to be his research assistant...
policies that would reduce such risks. Former U.S. Treasury Secretary LawrenceSummers called the warnings "misguided" and Rajan himself a "luddite". However...
president LawrenceSummers. Oracle spokesman Bob Wynne announced, "It was really Larry Summers' brainchild and once it looked like Larry Summers was leaving...
and Kathleen Stock. Other founders include former Harvard President LawrenceSummers, former ACLU President Nadine Strossen, and former president of the...
Crimson Did Summers’ Faith Affect His Fall?, March 3, 2006 The Harvard Crimson A Milestone of Faith, October 14, 2001 "LawrenceSummers". Jewish Virtual...
supervision of officials. Former deputy secretaries include Roger Altman, LawrenceSummers, Stuart E. Eizenstat, Kenneth W. Dam, and Samuel Bodman. The office...
Force on Combating Antisemitism. Critics including Bill Ackman and LawrenceSummers objected because he was among the 2,898 Jewish "scholars, clergy, and...
Jennifer Shrader Lawrence (born August 15, 1990) is an American actress. She is known for starring in both action film franchises and independent dramas...
Matthew and Andrew. His film appearances include Summer Rental (1985) and Oliver & Company (1988). Lawrence was born and raised in Abington Township, Montgomery...
2008. He had been mentored by LawrenceSummers. Kessler, Glenn (November 24, 2008). "As White House Economic Adviser, Summers to Assume Less-Public Role"...
The Chronicle of Higher Education as a possible candidate to succeed LawrenceSummers as president of Harvard University; Tufts' public relations director...
including husband Robert Summers, son LawrenceSummers, brother Kenneth Arrow, and brother-in-law Paul Samuelson. Anita Summers died on in Gladwyne, Pennsylvania...
him a future co-author. Shleifer also met his mentor and professor, LawrenceSummers, during his undergraduate education at Harvard. The two went on to...
succeeded in early July 1999 as Treasury secretary by his deputy, LawrenceSummers. According to CNN Money, Rubin was "one of the architects of the Clinton...
Pandemic Preparedness and Response, alongside Ngozi Okonjo-Iweala and LawrenceSummers. In March 2022, Tharman was appointed a member of the United Nations...
9% conservative.: 25–26 Inside Higher Ed reported that economist Lawrence H. Summers made his own analysis of the data collected by Gross and Simmons...
McCoo got together with three friends from Los Angeles—Harry Elston, LawrenceSummers, and Fritz Baskett—to form a group called 'the Hi-Fis' (which later...