Let’s Banish Larry Summers

Let’s Banish Larry Summers

Yesterday, the Washington Post‘s excellent Sunday Outlook section featured a “Spring Cleaning Special” in which ten writers were given the chance to make the case for something that deserves to be thrown out this spring.

Slate columnist Farhad Manjoo argues for television’s demise. Reporter Thomas Ricks calls for shutting down West Point. Blogger Ana Marie Cox insists we should put the White House press corps out to pasture, and author and Nation columnist Naomi Klein says we should banish Barack Obama’s chief economic adviser Larry Summers from public life.

Klein’s argument is that Summers is the embodiment of an often overlooked cause of the global financial crisis: Brain Bubbles. This is “the process wherein the intelligence of an inarguably intelligent person is inflated and valued beyond all reason, creating a dangerous accumulation of unhedged risk.” Especially in the case of someone like Summers, who, as Klein rightly points out, “has been spectacularly wrong again and again.”

Facebook
Twitter
Email
Flipboard
Pocket

Yesterday, the Washington Post‘s excellent Sunday Outlook section featured a “Spring Cleaning Special” in which ten writers were given the chance to make the case for something that deserves to be thrown out this spring.

Slate columnist Farhad Manjoo argues for television’s demise. Reporter Thomas Ricks calls for shutting down West Point. Blogger Ana Marie Cox insists we should put the White House press corps out to pasture, and author and Nation columnist Naomi Klein says we should banish Barack Obama’s chief economic adviser Larry Summers from public life.

Klein’s argument is that Summers is the embodiment of an often overlooked cause of the global financial crisis: Brain Bubbles. This is “the process wherein the intelligence of an inarguably intelligent person is inflated and valued beyond all reason, creating a dangerous accumulation of unhedged risk.” Especially in the case of someone like Summers, who, as Klein rightly points out, “has been spectacularly wrong again and again.”

Read the piece here.

Then tell the Washington Post which of the ten things on offer you think should be tossed first. I just voted and the results are showing a strong consensus around Klein’s choice.

As Klein writes at the Common Dreams website, “You never voted for him anyway. In fact, chances are that you voted for a presidential candidate promising to reverse the elites-first economics that Larry Summers — the ultimate Brain Bubble — has championed his entire career.”

So add your voice and vote out Summers here. It’d be a nice symbolic victory and, who knows, maybe Obama reads the WashingtonPost.com.

PS: If you happen to have time on your hands and want to follow me on Twitter — a micro-blog — click here. You’ll find (slightly) more personal posts, breaking news and lots of links.

Thank you for reading The Nation!

We hope you enjoyed the story you just read, just one of the many incisive, deeply-reported articles we publish daily. Now more than ever, we need fearless journalism that shifts the needle on important issues, uncovers malfeasance and corruption, and uplifts voices and perspectives that often go unheard in mainstream media.

Throughout this critical election year and a time of media austerity and renewed campus activism and rising labor organizing, independent journalism that gets to the heart of the matter is more critical than ever before. Donate right now and help us hold the powerful accountable, shine a light on issues that would otherwise be swept under the rug, and build a more just and equitable future.

For nearly 160 years, The Nation has stood for truth, justice, and moral clarity. As a reader-supported publication, we are not beholden to the whims of advertisers or a corporate owner. But it does take financial resources to report on stories that may take weeks or months to properly investigate, thoroughly edit and fact-check articles, and get our stories into the hands of readers.

Donate today and stand with us for a better future. Thank you for being a supporter of independent journalism.

Thank you for your generosity.

Ad Policy
x