“ALL YOU NEED, besides the cocaine, is a lighter, water, baking soda, some Q-Tips, high-proof alcohol, a ceramic mug, and a piece of cheesecloth or an old T-shirt,” writes Glenn Loury in his riveting Late Admissions: Confessions of a Black Conservative. The book is surely the only memoir by an Ivy League economist that includes a recipe for crack cocaine along with technical discussions of Karl Marx, Ludwig von Mises, Fried-rich Hayek, and Albert O. Hirschman.
Born in 1948 and raised working class on Chicago’s predominantly black South Side, Loury tells a story of self-invention, ambition, hard work, addiction, and redemption that channels Benjamin Franklin’s Autobiography, Richard Wright’s Native Son, Saul Bellow’s The Adventures of Augie March, and Milton Friedman’s Capitalism & Freedom. An alternative title might have been “Rise Above It!,” the slogan of a pyramid-scheme cosmetics company on which he squandered his savings as a young man in Chicago.
Now a chaired professor at Brown University and the host of , a wildly popular YouTube offering, Loury worked his way through community college, Northwestern, and a Massachusetts Institute of Technology Ph.D., became the first tenured black economist at Harvard, emerged as a ubiquitous commenter on race ad class in the pages of and , was offered a post in the Ronald Reagan administration, and was then publicly humiliated after affairs, arrests, and addiction all became public, threatening the end of his professional and personal life. With the support of his wife, Linda Datcher Loury (herself a highly regarded economist), Alcoholics Anonymous (A.A.), and colleagues, Loury managed to rise above it and not just rebuild his academic reputation and relationships with his children, but also gain a unique perspective
