Summers Speaks on Environment

Speaking in optimistic tones and cracking jokes about fellow economists, Lawrence H. Summers, vice president and chief economist of the World Bank, asserted in a speech last night that economic growth and environmental progress should go hand in hand.

Summers, who is also Ropes Professor of Political Economy at Harvard, told the crowd of more than 400 who had gathered in the Science Center that he wanted to dismiss the "apocalyptic rhetoric" and doomsday predictions frequently heard among economists.

He cited concerns raised at last summer's environmental summit in Rio de Janiero--fears that the world's raw materials are in danger of quick depletion, that the world's population will soon be unable to feed itself and that global warming threatens economic progress--as "both uninformed and simply not documented."

Summers focused instead on the importance of prioritizing global free trade, foreign investment in the environment and private investment as the keys for a promising future and sustainable development.

He specifically labelled the education of women worldwide as the "single most important environmental investment of our time," due to its influence on contraception, population control and overall quality of life.

Summers said that investments in improved sanitation systems and controlled air pollution should also be top priorities on the road to better environment and better economics.

"In our efforts to address environmental concerns we must remember to keep our eyes in human welfare and in the investment of people," Summers urged. Summers' speech was sponsored by the University Committee on the Environment.