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The Plutocrats Are Living It up: Larry Summers' Gilded Path to Money and Power

Larry Summers’ shuffling from Harvard to the White House is symptomatic of a new American plutocracy that keeps the gears of corruption greased.

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These four needs converge in the form of academic policy institutes like the Center for Business and Government. This system works well for Harvard, for its faculty, for corporate donors, and for government elites — so long as the influence of money remains obscured by the open nature of the institution. To the CBG and its architects, “society’s most challenging problems at the interface of the public and private sectors” don’t include corporate capture, which plagues the Center itself. The primary challenge for the CBG in the 21st century is rather to construct a benign intellectual cover for a new era of blatant crony capitalism, keeping the sleazy networks at the center of the corporate-government universe well lubricated but invisible to the public.

Larry Summers has his job cut out for him. He might want to keep his hedge fund work to one day per week.

Matthew Skomarovsky is a co-founder of LittleSis.org, an involuntary facebook for powerful Americans. He is also co-director of the Public Accountability Initiative .

 
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