Word: economisters
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When Shleifer earned a tenured position at Harvard at the ripe age of 30 in 1991, he was again in league with Summers, who got his top spot at 28. That year, both would take leave from the University, Summers to serve as chief economist at the World Bank, and Shleifer to act as an economic advisor to his native Russia...
During that period, despite the publicity of his case, Shleifer had the distinction of being the most cited economist in the world according to the University of Connecticut’s IDEAS citation project. Again, the Russia case was unresolved, but Shleifer was able to hold on to his academic reputation, at least for the time being...
Fast forward two years. The economist, instead of being lambasted in the wake of a criminal investigation, received the glowing support of his colleagues. He was awarded the John Bates Clark Medal, an award given to the most promising American economist under the age of 40. Previous winners included Paul R. Krugman, Harvard Professor Martin S. Feldstein ’61, Milton Friedman, and not surprisingly, Summers...
Things could’ve been better for Shleifer, but they definitely could’ve been worse. After the prize was announced in 1999, The New York Times asked the head of the Clark selection committee, Harvard economist Dale W. Jorgenson, if the Russia case came up in their deliberations. Said Jorgenson, “It was not even mentioned...
...shadow over Shleifer’s future. But then again, no criminal case was ever filed, and Shleifer is back in the classroom this fall. And as for his reputation, a recent check at the University of Connecticut IDEAS project still puts Shleifer as the number one cited economist in the world...