After it was revealed that something like ½ of the top flight academic economists have taken hundreds of thousands of dollars from Wall Street, and then enthusiastically endorsed the policies of deregulation and “financial innovation” which lined their patron’s pockets, it now appears that the members of the American Economic Association are considering adopting a code of ethics.
Let’s see
- Stanford Business Prof. Darrell Duffie wrote a book on Wall Street regulations without mentioning that is on the board of Moody’s
- Laura D’Andrea Tyson, Bill Clinton and Barack Obama, business school UC Berkeley, is a director of Morgan Stanley.
- Richard H. Clarida, Columbia: executive vice president at the bond behemoth Pimco
- R. Glenn Hubbard, dean of Columbia Business School: director of MetLife
- Frederic S. Mishkin, Columbia Business School: high priced consultant to Wall Street Firms
- Martin S. Feldstein, George F. Baker Professor of Economics at Harvard University: former board member, American International Group
- Larry Summers
- Larry Summers
- Larry Summers
- Larry Summers
Why would anyone think that economists might need a small dose of ethics?