By Richard Bradley
It is the richest, so much influential, strongest college on the earth, yet at first of 2001, Harvard used to be in crisis. scholars complained Harvard schooling had grown mediocre. Professors charged that the collage cared extra approximately cash than approximately studying. and everybody apprehensive that Harvard's outgoing president, Neil Rudenstine, epitomized an unsatisfied pattern: the collage president as full-time fund-raiser. Harvard can have possessed a $19 billion endowment, yet had the collage misplaced its soul?
The individuals of the Harvard company, the ultra-secretive governing board demonstrated greater than 3 centuries in the past, knew they had to behave. they usually made a daring decide for Harvard's twenty-seventh president: former Treasury Secretary and highbrow prodigy economist Lawrence Summers.
Although famously terrific, Summers used to be a high-stakes gamble. within the Nineties he had crafted American rules to stabilize the worldwide economic system, quietly changing into one of many world's strongest males. yet whereas many in demand Summers, his critics known as him elitist, imperialist, and conceited past measure.
Today Larry Summers sits atop a college in a nation of upheaval, not sure of what it stands for and the place it's going. His allies think that Harvard wishes shaking up and delight in Summer's blunt language and unabashed monitors of strength. His foes accuse the recent president of tearing aside a venerable establishment just to remake it in his personal photo. At stake is not only the way forward for Harvard collage, however the means during which Harvard scholars see the area -- and the way within which they'll lead it.
Written regardless of the university's reliable competition, Harvard Rules uncovers what particularly is going on at the back of Harvard's storied partitions -- the politics, intercourse, ambition, infighting, and intrigue that run rampant in the world's most crucial university.
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Extra resources for Harvard Rules: The Struggle for the Soul of the World's Most Powerful University
Example text
Larry was a hive of activity,” said Harvard economics professor Larry Katz, a friend of Summers’. ” Politically, Summers was left of center; he was skeptical of the unfettered marketplace and believed that the federal tax code should be structured to promote progressive policy goals. Intellectually, he had a talent for bringing real-world data to problems that economists had previously dealt with theoretically. In a provocative 1986 paper on Henry Ford, for example, Summers and co-author Daniel M.
At the end of 1994, Lloyd Bentsen resigned, and Robert Rubin became the new treasury secretary. Rubin was a judicious, polished veteran of the New York financial world, a graduate of Harvard College and Yale Law School who became a managing partner at the investment firm Goldman Sachs. Rubin exuded an unflappable confidence, almost a sense of existential serenity. ” Few powerful men could make such a claim without sounding ridiculous. Bob Rubin fostered the impression that he’d be only too happy to quit while he was ahead.
At some point in their careers, most high-level economists engage in public service, often in Washington. In the Harvard economics department, it’d be hard to find an economist who didn’t shuttle back and forth between Boston and the nation’s capital for a year or so. But such stints are viewed as a temporary respite from academe. The really interesting work—the really hard work—is the life of the mind. Moreover, in any academic discipline, it doesn’t take long for those who momentarily step aside to start falling behind.
