Trouble at the Fed

Lisa D. Cook is one of the world’s most powerful economists. She taught economics at Harvard University and Michigan State University and served on the Obama administration’s Council of Economic Advisers before being appointed, in 2022, to the Federal Reserve Board of Governors, which controls the interest rates and money supply of the United States.

(Article republished from ChristopherRufo.com)

Despite her pedigree, questions have long persisted about her academic record. Her publication history is remarkably thin for a tenured professor, and her published work largely focuses on race activism rather than on rigorous, quantitative economics. Her nomination to the Fed required Vice President Kamala Harris to cast a tie-breaking vote; by contrast, her predecessor in the seat, Janet Yellen, now Treasury secretary, was confirmed unanimously.

The quality of her scholarship has also received criticism. Her most heralded work, 2014’s “Violence and Economic Activity: Evidence from African American Patents, 1870 to 1940,” examined the number of patents by black inventors in the past, concluding that the number plummeted in 1900 because of lynchings and discrimination. Other researchers soon discovered that the reason for the sudden drop in 1900 was that one of the databases Cook relied on stopped collecting data in that year. The true number of black patents, one subsequent study found, might be as much as 70 times greater than Cook’s figure, effectively debunking the study’s premise.

Cook also seems to have consistently inflated her own credentials. In 2022, investigative journalist Christopher Brunet pointed out that, despite billing herself as a macroeconomist, Cook had never published a peer-reviewed macroeconomics article and had misrepresented her publication history in her CV, claiming that she had published an article in the journal American Economic Review. In truth, the article was published in American Economic Review Papers and Proceedings, a less prestigious, non-peer-reviewed magazine.

An exclusive City Journal and Daily Wire investigation reveals additional facts that cast new doubt on Cook’s seriousness as a scholar.

In a series of academic papers spanning more than a decade, Cook appears to have copied language from other scholars without proper quotation and duplicated her own work and that of coauthors in multiple academic journals without proper attribution. Both practices appear to violate Michigan State University’s own written academic standards.

We will review several examples which, taken together, establish a pattern of careless scholarship at best or, at worst, academic misconduct.

In a 2021 paper titled “The Antebellum Roots of Distinctively Black Names,” Cook copied-and-pasted verbatim language from Charles Calomiris and Jonathan Pritchett, without using quotation marks when describing their findings, as required. Here is the original passage from Calomiris and Pritchett:

During this time, New Orleans was the largest city in the South and the site of its largest slave market. Unlike states with a common law tradition, Louisiana treated slaves like real estate, and slave sales had to be recorded and notarized in order to establish title (Louisiana 1806, section 10). Today, the records of many of these slave sales may be found in the New Orleans Notarial Archives and the New Orleans Conveyance Office. Because of the availability of these records and the size of the market, New Orleans is the best source for data on slave sales within the United States.

Here is Cook’s paper, which, though it cites Calomiris and Pritchett, lifts their language verbatim, which we have marked in italics, substituting only the word “slaves” with the politically correct phrase “the enslaved”:

Unlike states with a common law tradition, Louisiana treated the enslaved like real estate, and slave sales had to be recorded and notarized in order to establish title (Louisiana 1806 section 10). Today the records of many of these slave sales may be found in the New Orleans Notarial Archives and the New Orleans Conveyance Office. Because of the availability of these records and the size of the market, New Orleans is the best source for data on slave sales within the United States. [ . . . ]

During this time New Orleans was the largest city in the South and the site of its largest slave market.

She does something similar in her October 2021 paper, “Closing the Innovation Gap In Pink and Black,” which, despite significant government subsidies and years spent on it by Cook, summarized the work of researchers Charles Becker, Cecilia Elena Rouse, and Mingyu Chen by copying roughly 70 words without quotes.

Read more at: ChristopherRufo.com