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This is a really fascinating story of a guy who is almost universally hated for his personality flaws. He is arrogant, authoritarian and unlikable. He is the person who professes neoliberal ideology , a staunch supporter of deregulation of financial sector and who played a role of a hired gun in killing Glass-Steagall.
It's really amazing that he after all his adventures in Clinton administration he managed to land the important position in " the change we can believe in " aka "it could be worse" Administration, but this is just a testament of Rubin's influence in Obama administration. As an economist Summers has gone through several questionable revolving doors, and that mean that it is natural to suspect his level of scientific integrity.
He became a walking illustration of corruption of the academy by special interests. This level of corruption of academics is a disgrace, but nothing new. Mishkin did worse things. Fat cats of economic profession institutionalize the relations typical for Academician Lysenko among students, and contribute to the problems of the society instead of helping to solve them. This is now, literally, a billion-dollar industry.
This is very disturbing but what is more disturbing that in case of Summers there is strong evidence of cronyism and nepotism during his meteoric rise to the top. In a mandarinate that sure is US economic profession that's a tremendous help for any person in climbing to the top.