Human Wrongs Watch
Rome, 17 March 2016
Larry Summers, Bill Clinton’s minister of treasury, has made few friends in life. At that time, he was instrumental in eliminating the Glass Stegall Banking Law, which since 1933 separated the bank’s customer deposits from the financial activities of the Stock Exchange, releasing a flood of money which created the present monster financial system.
Roberto Savio
He was also Chief Economist of the World Bank, a position he left after polemics.
He became the President of the prestigious Harvard Academy, but was obliged to leave on a gender issue.
He was the Director of the National Economic Council under president Barack Obama, where is pro-business attitude led to new controversies.
Maybe, for all these reasons, very few paid attention to his predictions about “the new economy”.
This is a term created after the crisis of 2009, to indicate that unemployment would be normal, and that the market would be the centre of economy and finance, and social and welfare measures were not any longer part of the economy’s concern.
HUMAN WRONGS WATCH 