Lawrence Henry "Larry" Summers (born November 30, 1954) is an American
economist who is presently President Emeritus and Charles W. Eliot
University Professor of Harvard University.
Born in New Haven,
Connecticut, Summers became a professor of economics at Harvard
University in 1983. He left Harvard in 1991, working as the Chief
Economist at the World Bank from 1991 to 1993. In 1993 Summers was
appointed Undersecretary for International Affairs of the United States
Department of the Treasury under the Clinton 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. 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 American advised
privatization of the economies of the Post-Soviet states, and in the
deregulation of the U.S financial system, including the abolishment 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 that 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 suggested that the under-representation of women in science and
engineering could be due to a "different availability of aptitude at
the high end", and less to patterns of discrimination and socialization.
After his departure from Harvard, Summers made millions as a managing
partner at the hedge fund D. E. Shaw & Co., and through holding
speeches for major financial institutions, including Goldman Sachs,
JPMorgan Chase, Citigroup, Merrill Lynch and Lehman Brothers. 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. After his departure from the NEC in
December 2010, Summers has worked in the private sector and as a
columnist in major newspapers. In mid-2013, his name was widely floated
as the potential successor to Ben Bernanke as the Chairman of the
Federal Reserve, though after pushback from the left, Obama eventually
nominated Federal Reserve Vice-Chairwoman Janet Yellen for the position.
http://en.wikipedia.org/wiki/Larry_Su...
Paul
Robin Krugman (born February 28, 1953) is an American economist,
Professor of Economics and International Affairs at the Woodrow Wilson
School of Public and International Affairs at Princeton University,
Centenary Professor at the London School of Economics, and an op-ed
columnist for The New York Times. In 2008, Krugman won the Nobel
Memorial Prize in Economic Sciences for his contributions to New Trade
Theory and New Economic Geography. According to the prize Committee, the
prize was given for Krugman's work explaining the patterns of
international trade and the geographic concentration of wealth, by
examining the effects of economies of scale and of consumer preferences
for diverse goods and services.
Krugman is known in academia for
his work on international economics (including trade theory, economic
geography, and international finance), liquidity traps, and currency
crises. Krugman is ranked among the most influential academic thinkers
in the US.
As of 2008, Krugman has written 20 books and has
published over 200 scholarly articles in professional journals and
edited volumes. He has also written more than 750 columns on economic
and political issues for The New York Times, Fortune and Slate.
As a
commentator, Krugman has written on a wide range of economic issues
including income distribution, taxation, macroeconomics and
international economics. Krugman considers himself a liberal, calling
one of his books and his New York Times blog The Conscience of a
Liberal. His popular commentary has attracted considerable comment, both
positive and negative.
http://en.wikipedia.org/wiki/Paul_kru...
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