An esteemed economic association has banned former Treasury Secretary Lawrence Summers for life, citing his ongoing friendship with Jeffrey Epstein even after Epstein's 2008 conviction for soliciting prostitution from a minor. The nonprofit said Tuesday that it had accepted Summers' resignation and permanently revoked his membership. The 71-year-old, who was a regular speaker at top economic forums, is barred from attending, speaking at, or participating in any American Economic Association-sponsored events, and is also prohibited from serving in any editorial capacity for AEA journals, the New York Post reports.
The AEA's lifetime ban decision follows the release of emails revealing Summers' continued friendship with Epstein, including requests for dating advice, and jokes about women's intelligence. He told Epstein the woman he was pursuing viewed him as an "economic mentor." The emails also revealed that Summers' relationship with Epstein continued through 2019; Epstein was arrested in July of that year. In a statement, the group condemned Summers' conduct "as fundamentally inconsistent with its standards of professional integrity and with the trust placed in mentors within the economics profession," per the AP.
Summers, a former Harvard president, has also stepped back from his teaching role at the university while it investigates his Epstein ties, and resigned from his board position at OpenAI; he also lost a consulting gig at hedge fund DE Shaw. After the emails were released last month, Summers, who served in Bill Clinton's administration, apologized, saying, "I am deeply ashamed of my actions and recognize the pain they have caused."
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