General Discussion

liberalization, trade, and labor policy was marked by one avoidable disaster after another. The common element was to apply free-market theory where it didn’t fit the circumstances, and where it often benefited his patrons and paymasters on Wall Street. In all of these areas, Joseph Stiglitz, who repeatedly clashed with Summers, warned against these policies. His 2003 book, The Roaring Nineties, written five years before the financial collapse, reads like prophecy. Stiglitz’s views have been thoroughly vindicated. Yet Summers has been treated as the economic prophet, while Stiglitz, a Nobel laureate, has been kept far from power.

https://prospect.org/2020/07/13/falling-upward-larry-summers/