Sentenced to 25 years
July 25, 2013  

Larry Summers is in consideration to be the next head of the Federal Reserve, which conducts monetary policy for the United States. Accordingly, it would be interesting to see what Summers thinks about monetary policy.

Remarkably, Summers wrote a paper “How Should Long-Term Monetary Policy be Determined?” for an academic journal in 1991 that is still behind a paywall! That’s getting close to 25 years, and it will cost you $44 to see the paper today.

It’s hard to see how this advances knowledge. Perhaps an institution dedicated to the advancement of knowledge ought to do something about this. Like, say, Ohio State University, whose university press publishes the journal in question.

Just another example of how academia is its own worst enemy.