Sun Sep 15 14:34:04 UTC 2024: ## Larry Summers Joins OpenAI Board, While Naked Capitalism Urges Readers to “Defund the Left”
**By Mark Ames**
Former Treasury Secretary Larry Summers has joined the board of OpenAI, the artificial intelligence research company, prompting concerns about his potential influence on economic policy. Summers has been a vocal advocate for aggressive interest rate hikes to combat inflation, a stance criticized by some as misguided.
This development comes as Naked Capitalism, a popular financial blog, calls on its readers to “defund the Left” by supporting the publication financially. In a scathing and satirical piece, author Mark Ames argues that the Left’s historical neglect of finance has left it vulnerable to manipulation by powerful interests.
Ames contends that the Left’s failure to understand finance and its subsequent alienation from labor has rendered it politically impotent. He blames the Hippie movement for this intellectual disconnect, arguing that their disdain for “figures” and rejection of labor led to a generation of political inaction and naiveté.
Ames warns that the oligarchy is actively working to “defund the Left” by undermining journalism and consolidating control over media outlets. He uses the collapse of independent journalism in Russia under Yeltsin as a cautionary tale.
The piece concludes with a plea for readers to contribute to Naked Capitalism, arguing that supporting the blog is essential for a “different debate, a different society, and a different culture.” Ames even suggests a somewhat outlandish solution to Summers’ influence: “sealing him in a kind of space barge, and fire him off into deep space, to orbit Uranus for eternity.”
The article has sparked debate among readers, some agreeing with Ames’ assessment of the Left’s shortcomings while others defend the Hippie movement and critique Ames’ understanding of its historical context.
Regardless of the differing viewpoints, Naked Capitalism’s plea for financial support highlights the growing need for independent and critical financial analysis in a world dominated by powerful corporations and political agendas.
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