Larry Summers: We Need Accountability
Lawrence H. Summers is an American economist. He is the Charles W. Eliot University Professor and President Emeritus at Harvard University, where he became one of the university's youngest tenured faculty at age 28.
The author of over 150 journal articles, Dr. Summers' wide-ranging contributions to economic research were recognized with the John Bates Clark Medal, given every two years to the outstanding American economist under the age of 40. He was also the first social scientist to receive the National Science Foundation’s Alan T. Waterman Award for outstanding scientific achievement.
Beyond his academic career, Dr. Summers has held a number of distinguished appointments in government. He previously served as Director of the National Economic Council for the Obama Administration, Secretary of the Treasury for the Clinton Administration, and Chief Economist of the World Bank.
Lawrence Summers received his S.B. from MIT and his Ph.D. in economics from Harvard. He and his wife Elisa New, a professor of English at Harvard, have six children.
Larry Summers, Eric Schmidt, Skip Gates, Dean Kamen, Rahm Emanuel, Craig Venter and many other thought-leaders and innovators convened on Nantucket from September 30 to October 2, 2011. Those are some very big names on a small island, and if it all sounds rather exclusive, well, it was.
In this video, Larry Summers participates in a panel was stacked with financial heavyweights including Eric Schmidt, Executive Chairman of Google, Hedge Fund Manager Eddie Lampert, venture capitalist Stephen DeBerry and Mellody Hobson, President of Ariel Investments. The panel was moderated by Tom Stewart, Chief Knowledge Officer at Booz and Company.
A pragmatic approach to fixing an imbalanced system.
- Intentional or not, certain inequalities are inherent in a digital economy that is structured and controlled by a few corporations that don't represent the interests or the demographics of the majority.
- While concern and anger are valid reactions to these inequalities, UCLA professor Ramesh Srinivasan also sees it as an opportunity to take action.
- Srinivasan says that the digital economy can be reshaped to benefit the 99 percent if we protect laborers in the gig economy, get independent journalists involved with the design of algorithmic news systems, support small businesses, and find ways that groups that have been historically discriminated against can be a part of these solutions.
Is there a way for more human-centered algorithms to prevent potentially triggering interactions on social media?
- According to a 2017 study, 71% of people reported feeling better (rediscovery of self and positive emotions) about 11 weeks after a breakup. But social media complicates this healing process.
- Even if you "unfriend", block, or unfollow, social media algorithms can create upsetting encounters with your ex-partner or reminders of the relationship that once was.
- Researchers at University of Colorado Boulder suggest that a "human-centered approach" to creating algorithms can help the system better understand the complex social interactions we have with people online and prevent potentially upsetting encounters.