Laurence Summers is Director of the White House’s National Economic Council for President Barack Obama.
He once wrote:
“What’s the single most important thing to learn from an economics course today? What I tried to leave my students with is the view that the invisible hand is more powerful than the [un]hidden hand. Things will happen in well-organized efforts without direction, controls, plans. That’s the consensus among economists. That’s the Hayek legacy.”
(Lawrence Summers, quoted in The Commanding Heights: The Battle Between Government and the Marketplace that Is Remaking the Modern World, by Daniel Yergin and Joseph Stanislaw. New York: Simon & Schuster. 1998, pp. 150-151.)
Probably Professor Summers meant to say that this rule is universal for the benefit of society but not for the benefit of Goldman Sachs