From a talk by Larry Summers:
“[T]he current WHO budget for pandemic flu is less than the salary of the University of Michigan’s football coach—not to mention any number of people who work in hedge funds. And that seems manifestly inappropriate. And we do not yet have any settled consensus on how we are going to deal with global public goods and how that is going to be funded.”
By the way, given yesterday’s post, Larry Summers IS actually the absolute best, most thoughtful, serious economist of the left. He would rank as one of my five most favorite economists regardless of any political affiliation. He does not bullshit. He does not straw man. He does not try to place nice. He just tells it like it is. Why there are not more people emulating him is a complete shock to me, it’s not like he has been limited in his career options. And yes, I know about the Harvard Presidency.
