Economist Larry Summers will resign from his tenured position as a professor at Harvard University, effective at the end of the 2025-26 academic year. The announcement came on February 25, 2026, following increased scrutiny over his connections to the late convicted sex offender Jeffrey Epstein. Summers will assume the title of president emeritus, a designation that allows him to maintain a formal relationship with the university despite his departure.
This decision reflects a broader investigation launched by Harvard in November 2025, which sought to determine whether Summers and other faculty members had interactions with Epstein that breached university guidelines regarding gifts. A spokesperson for Harvard confirmed that Summers’ resignation was linked to this ongoing inquiry. Despite calls from students and faculty to revoke his tenure, Summers remained in his academic roles until opting for retirement.
In a statement, Summers expressed a desire to engage in research and commentary on global economic issues in his new role. He stated, “Free of formal responsibility, as President Emeritus and a retired professor, I look forward in time to engaging in research, analysis, and commentary on a range of global economic issues.”
Controversies Surrounding Summers
The scrutiny surrounding Summers is not new. His controversial history includes comments made in 2005 regarding women in science that led to widespread backlash and calls for his resignation as Harvard president. His recent ties to Epstein further complicate his legacy, particularly following the release of communications between the two in November 2025, which detailed Summers’ reliance on Epstein for advice while pursuing a personal relationship with a mentee.
The Department of Justice subsequently released additional documents in January 2026 as part of a congressional mandate, though no major revelations concerning Summers have surfaced since.
As a prominent figure in the economics field, Summers’ connections to Epstein raise serious questions. In 2014, Epstein named him as a backup executor of his estate, highlighting the depth of their relationship. The release of these communications has led to significant criticism of Harvard’s handling of the situation.
Institutional Response and Broader Implications
Harvard’s response has been marked by a lack of decisive action against Summers, which critics argue reflects a prioritization of donor relations over accountability. While the university initiated an investigation, it did not impose immediate disciplinary measures. In contrast, the American Economic Association swiftly banned Summers from all its conferences and activities on December 2, 2025, signaling a clear stance against his behavior.
The fallout from the Epstein scandal extends beyond Harvard. Other prestigious institutions, such as Duke, Yale, Princeton, and Columbia, have also been implicated in communications with Epstein, revealing a pattern of entanglement that raises concerns about the influence of wealthy donors in academia.
Summers’ case underscores the persistent issues of gender bias and abuse of power within the economics profession. Data from a 2019 survey by the American Economic Association indicated that nearly half of female economists reported experiencing sexual discrimination. Reports reveal a culture where male economists frequently exert power over women, further complicating the field’s dynamics.
As higher education continues to grapple with its reliance on wealthy patrons, the implications of Summers’ resignation and the ongoing investigation into his conduct will likely resonate throughout the academic community. Observers argue that allowing him to retire with an honorary title sends a troubling message about the consequences of misconduct at the highest levels of academia.
The situation emphasizes the need for institutions to take a more proactive stance in addressing abuses of power and ensuring that all members of the academic community are held to the same standards, regardless of their prestige.
