Summers urges more investing in science education
The rise of the developing world is the most important story of our era, and the future success of America and the Boston area will increasingly hinge on their ability to adapt to the rapidly growing global economy, economist and former Harvard University president Lawrence H. Summers told a Boston conference this morning.
Summers, a former US Treasury secretary during the Clinton administration and a former chief economist at the World Bank, spoke at the spring conference of the Massachusetts Technology Leadership Council, which focused on trade ties with China, India, and Russia; the conference is being held at the Sheraton Boston Hotel.
In a presentation to about 300 people, Summers said, "It will require us to think in a new way if we want to take advantage of what will be a remarkable new global economy."
Summers noted that the Chinese economy is growing at 7 percent a year as living standards have increased by more than 100 times during a 75-year life span.
"This is an unprecedented event in human history," said Summers, who called for greater US investment in science and technology education.
What cannot be argued, he added, is that "China and India between them will turn out 10 times as many engineers as the United States will."
Summers stepped down as president of Harvard in 2006 after an often tumultuous five-year reign.
(By Robert Weisman, Globe staff)
