Larry Summers Banned for Life by Economic Association Over Epstein Links
Larry Summers has received a lifetime ban from the American Economic Association (AEA) due to his connections with the late Jeffrey Epstein, a convicted sex offender. The AEA announced this decision in a statement released on Tuesday, indicating that Summers had voluntarily resigned.
Details of the Ban
The AEA, which boasts over 17,000 members, stated that the ban is effective immediately. This prohibition encompasses all forms of participation in AEA-sponsored activities, such as attending conferences, speaking engagements, and serving in editorial roles for AEA journals.
Summers’ Reputation in Economics
Summers has been a prominent figure in the field of economics. He served as Treasury Secretary during Bill Clinton’s presidency and held the position of Harvard University President. His education and contributions to economics earned him the John Bates Clark Medal from the AEA in 1993, awarded to distinguished economists under 40.
New Revelations
The AEA’s decision followed the release of emails last month by a House committee, highlighting Summers’ interactions with Epstein. These communications included sexist remarks and personal inquiries directed at Epstein for romantic advice.
Summers’ Statement
In response to the revelations, Summers expressed deep remorse for his past actions. He acknowledged the pain caused to others and announced plans to reduce his public engagement. He has also stepped back from his teaching role at Harvard while an investigation into his relationship with Epstein is ongoing. Additionally, Summers has resigned from his position on the board of OpenAI.
Implications for the Economics Profession
The AEA condemned Summers’ behavior, stating it contradicts the standards of professional integrity expected in the field of economics. This incident raises questions about mentorship and ethical conduct within the profession.
- Lifetime ban from AEA imposed on Larry Summers
- Over 17,000 members in the American Economic Association
- Summers served as Treasury Secretary and Harvard President
- Ban follows during the investigation of Summers’ ties to Epstein
