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Quote of the week: Lawrence Summers

Sina Odugbemi's picture

"The core of the revolt against global integration, though, is not ignorance. It is a sense, not wholly unwarranted, that it is a project carried out by elites for elites with little consideration for the interests of ordinary people — who see the globalisation agenda as being set by big companies playing off one country against another."

-Lawrence Summers, an American economist who currently serves as President Emeritus and Charles W. Eliot University Professor of Harvard University.  He worked as Chief Economist at the World Bank from 1991 to 1993 before being appointed as Undersecretary for International Affairs of the United States Department of the Treasury. In 1999, he became Secretary of the Treasury, a position he held until 2001. Summers later joined the Obama administration, serving as Director of the White House United States National Economic Council for President Barack Obama from January 2009 until November 2010. In mid-2013, his name was floated as a potential successor to Ben Bernanke as Chairman of the Federal Reserve, though after receiving pushback, Obama nominated Federal Reserve Vice-Chairwoman Janet Yellen for the position.



Quoted in an op-ed "Build support for global trade from the bottom up" by Lawrence Summers in the April 11 print edition of the Financial Times.

Photograh of by LHSummers via Wikimedia Commons

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Comments

Submitted by 'Jide on

As always Mr Odugbemi's article is apt and concise on an issue that baffles many, is thought-provoking and initiates endless topics for debates on the; WHYs, HOWs and Who's to blame including permanent CHANGE for good.
Below, a link to a related article on country, wealth-portion and the personal benefit thereof
https://edition.cnn.com/2016/04/18/africa/looting-machine-tom-burgis-africa/index.html

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