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Lawrence Summers

Lawrence Summers

Charles W. Eliot University Professor

Member of the Board, Belfer Center for Science and International Affairs

Contact:
Website: http://ksghome.harvard.edu/~lsummer/
Publications: http://ksghome.harvard.edu/~lsummer/publications.htm

 

 

By Date

 

2013 (continued)

AP Images

January 21, 2013

"End the Damaging Obsession With Deficit"

Op-Ed, Financial Times

By Lawrence Summers, Charles W. Eliot University Professor

In the two and a half months between the election and this week’s inauguration of President Barack Obama, America’s public policy debate has been focused on prospective budget deficits and what can be done to reduce them. Lawrence Summers writes that while we should address budget deficits, we should "not obsess over it in counterproductive ways – nor lose sight of the jobs and growth deficits that will ultimately have the greatest impact on the way this generation of Americans lives and what they bequeath to the next."

 

2012

December 16, 2012

"How to Fix Costly and Unjust U.S. Tax System"

Op-Ed, Financial Times

By Lawrence Summers, Charles W. Eliot University Professor

"Sooner or later the American tax code will be reformed...," writes former Treasury Secretary and Harvard Kennedy School professor Lawrence Summers. "Raising revenue will be the main motivation, but at a time of sharply increasing economic polarisation, issues of fairness will be prominent too. There are also legitimate concerns about the complexity of current tax rules and their adverse effects on the economy."

 

 

November 5, 2012

"The 'Obama debt' fallacy"

Op-Ed, Reuters

By Lawrence Summers, Charles W. Eliot University Professor

Lawrence Summers writes about Mike Boskins' response to Summers' Reuters column last week arguing that in a number of areas of economic policy, President Obama has the superior vision.

 

 

October 15, 2012

"The world is stuck in a vicious cycle"

Op-Ed, Financial Times

By Lawrence Summers, Charles W. Eliot University Professor

If the global economy was in trouble before the annual World Bank and IMF meetings in Tokyo last week, it is hard to believe that it is now smooth sailing. Indeed, apart from the modest stimulus provided to the Japanese economy by all the official visitors and the wealthy financial sector hangers on, it is difficult to see what of immediate value was accomplished.

 

 

September 19, 2012

"Britain Risks a Lost Decade Unless it Changes Course"

Op-Ed, Financial Times

By Lawrence Summers, Charles W. Eliot University Professor

Americans can take some comfort in knowing they are rebounding from the 2008 financial collapse faster than their British counterparts, writes Lawrence Summers.  With the U.K. growth rate lagging, Summers says, British leaders face the choice of changing course after four years of failed economic policy, or doubling down on the same aggresive fiscal consolidation that has yet to generate demand or provide the growth needed. 

 

 

August 19, 2012

"The U.S. State Will Expand Whoever Wins"

Op-Ed, Financial Times

By Lawrence Summers, Charles W. Eliot University Professor

"With the selection of Paul Ryan as the Republican vice-presidential candidate, it is clear both political parties agree that the central issue in the presidential election will be the scale and scope of government involvement in the US economy," writes Lawrence Summers, Charles W. Eliot Professor at Harvard Kennedy School, "but there is a widespread view in both parties that it is feasible and desirable that in the future the federal government will be no larger as a share of the overall economy than it has been historically."

 

 

June 3, 2012

"Breaking the Negative Feedback Loop"

Op-Ed, Reuters

By Lawrence Summers, Charles W. Eliot University Professor

In a recent op-ed, Lawrence Summers, former Treasury Secretary and economic adviser to President Barack Obama, writes that “With the past week’s dismal U.S. jobs data, signs of increasing financial strain in Europe, and discouraging news from China, the proposition that the global economy is returning to a path of healthy growth looks highly implausible,” however, “it is more likely that negative feedback loops are again taking over as falling incomes lead to falling confidence, which leads to reduced spending and yet further declines in income.”

 

 

April 30, 2012

"Austerity Has Brought Europe To The Brink Again"

Op-Ed, Reuters

By Lawrence Summers, Charles W. Eliot University Professor

"Once again European efforts to contain crisis have fallen short. It was perhaps reasonable to hope that the European Central Bank’s commitment to provide nearly a trillion dollars in cheap three-year funding to banks would, if not resolve the crisis, contain it for a significant interval. Unfortunately, this has proved little more than a palliative. Weak banks, especially in Spain, have bought more of the debt of their weak sovereigns, while foreigners have sold down their holdings. Markets, seeing banks holding the dubious debt of the sovereigns that stand behind them, grow ever nervous. Again, Europe and the global economy approach the brink," argues Larry Summers in a recent op-ed.

 

 

April 26, 2012

"Romney Must Release A Credible Budget"

Op-Ed, Financial Times

By Lawrence Summers, Charles W. Eliot University Professor

"Political arithmetic is invariably suspect and one should always examine carefully the claims of those seeking votes," writes Belfer Center International Council member Larry Summers, "However, just as one should look at audited and unaudited financials very differently when deciding whether to invest in a company, smart observers have learnt to distinguish between the claims of political candidates and their advisers on one hand, and proposals evaluated by non-political scorekeepers... on the other."

 

 

March 25, 2012

"How to ensure stimulus today, austerity tomorrow"

Op-Ed, Financial Times

By Lawrence Summers, Charles W. Eliot University Professor

Economic forecasters divide into two groups. There are those who cannot know the future but think they can – and then there are those who recognise their inability to know the future. Major shifts in the economy are rarely forecast and often not fully recognised until they have been under way for some time. So judgments about the US economy have to be tentative. What can be said is that for the first time in five years a resumption of growth significantly above the economy’s potential now appears a substantial possibility. Put differently, after years when growth was more likely to surprise below expectations than above them, the risks are now very much two-sided.

 

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