The failure of academia

Really interesting article in the Chronicle of Higher Education today: Larry Summers and the Subversion of Economics.

There’s a lot to unpack (read the whole thing), but one strong point the article makes is this:

Over the past 30 years, the economics profession—in economics departments, and in business, public policy, and law schools—has become so compromised by conflicts of interest that it now functions almost as a support group for financial services and other industries whose profits depend heavily on government policy. The route to the 2008 financial crisis, and the economic problems that still plague us, runs straight through the economics discipline. And it’s due not just to ideology; it’s also about straightforward, old-fashioned money.

Read the article

Brandeis Labor Coalition: Can Economics Work for Workers?

A really important event is happening tonight at 7pm and is hosted by Brandeis Labor Coalition:

Can Economics Work for Workers?

Are sweatshops needed to strengthen developing economies? Or is there a “race to the bottom” in workers’ wages? What are the right corporate and government policies?

On March 19th at 7:00pm in Rapaporte Treasure Hall the Brandeis Labor Coalition and the Business Club will be hosting a forum of different perspectives on international labor practices, including professors from the Brandeis Economics department and International Business School. Come hear scholarly opinions on the ethical and economic ramifications of globalization on workers and get your questions answered! Refreshments will be served following the forum.

Speakers will include
Featured UMass-Boston Professor Gerald Friedman.
Brandeis’ economics department chair Rachel McCulloch,
International Business School’s Michael Appell,

The event will be moderated by Professor John Ballantine of IBS.

(Made possible by the SJSP Brenda Meehan Social Justice-in-Action Grant)