Summers wins Global Economy Prize
Lawrence S. Summers, Charles W. Eliot University Professor and president emeritus at Harvard University, has been awarded the 2011 Global Economy Prize by the Kiel Institute for the World Economy. The awards ceremony was held June 19 in Kiel, Germany. “The Global Economy Prize highlights the achievements of those who view globalization as an opportunity to tap our creative potential,” said institute president Dennis J. Shower. “The prize winners recognize that our standard of living can be protected only through free market activity itself. Success in the globalization process requires adequate incentives to work, save, invest, and obtain training and education. By these means, societies promote economic activity based on individual initiative and responsibility and avoid wasting our physical and human resources.” Summers currently serves as co-faculty director of Harvard Kennedy School’s Mossavar-Rahmani Center for Business and Government. He has served in a number of senior policy positions in the federal government...