Larry Summers, the former U.S. Treasury Secretary and prominent economist, announced on Wednesday his decision to resign from his tenured professorship at Harvard University. This announcement follows increasing scrutiny surrounding his connections to the late convicted sex offender Jeffrey Epstein.
In a statement, Summers expressed gratitude for the opportunity to teach and collaborated with thousands of students and colleagues throughout his 50 years at Harvard, starting as a graduate student. “I have made the difficult decision to retire from my Harvard professorship at the end of this academic year,” he stated.
Summers is also stepping down from his role as co-director of the Mossavar-Rahmani Center for Business and Government at Harvard, as confirmed by university spokesman Jason Newton. His connections to Epstein have been well-documented, but newly released emails by the Justice Department revealed a more extensive relationship than previously known. Although Summers has not been accused of participating in any of Epstein’s criminal activities, the correspondence between the two continued until shortly before Epstein’s arrest on charges of sex trafficking minors in July 2019.
Summers has been on leave since November while Harvard investigates relationships between faculty and Epstein. Summers served as president of Harvard from 2001 to 2006 and was later appointed as a “University Professor,” the institution’s highest faculty rank.
Facing backlash from faculty and students about the correspondence with Epstein, Summers acknowledged his missteps. “I am deeply ashamed of my actions and recognize the pain they have caused,” he remarked in November. This scrutiny intensified after the House Oversight Committee released a trove of documents, including emails highlighting Summers’ interactions with Epstein.
In those emails, discussions ranged from Summers seeking Epstein’s advice regarding a romantic interest to lamentations about the modern workplace’s repercussions for men pursuing women. He and his wife, Elisa New, also visited Epstein’s private island during their honeymoon in 2005, a fact that was confirmed by Summers’ spokesman.
Despite his controversial ties, Summers held a tenured position that provided him protection within the academic framework at Harvard, where dismissal typically requires evidence of grave misconduct. Following mounting pressure from various circles, including criticism from Senator Elizabeth Warren, Summers’ resignation marks an end of an era at Harvard for the prominent figure whose career has been filled with both accolades and controversies.
Summers, who earned his Ph.D. at Harvard in 1982 and became one of the youngest tenured professors at 28, shifted from academia to public service in the 1990s and returned to Harvard as president in 2001. His tenure at the prestigious institution was often marked by contentious moments, including remarks made about women’s capabilities in science and engineering that drew widespread criticism.
In stepping down, Summers looks forward to allocating his time towards research and commentary on global economic issues, aiming to continue contributing to the field outside of his formal responsibilities at Harvard.