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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

 

2012 (continued)

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.

 

 

AP Photo

February 27, 2012

"The U.S. Tax System Needs Rebuilding"

Op-Ed, Financial Times

By Lawrence Summers, Charles W. Eliot University Professor

Whoever wins this year’s US election, the combined effect of three events – the expiry of former president George W. Bush’s tax cuts , a renewal of the legally binding limit on federal borrowing and the start of a Congressionally mandated sequester, a mechanism that will automatically cut domestic spending from 2013 – will force the president and Congress to engage deeply with fiscal issues. The decisions made will do much to determine the country’s future.

 

 

AP Photo/Tony Dejak

January 20, 2012

"What You (Really) Need to Know"

Op-Ed, New York Times

By Lawrence Summers, Charles W. Eliot University Professor

A PARADOX of American higher education is this: The expectations of leading universities do much to define what secondary schools teach, and much to establish a template for what it means to be an educated man or woman. College campuses are seen as the source for the newest thinking and for the generation of new ideas, as society’s cutting edge.

 

 

January 23, 2012

"The key to recovery: Boosting business confidence"

Op-Ed, Washington Post

By Lawrence Summers, Charles W. Eliot University Professor

"In today’s economic environment, optimism is associated with a rise in both interest rates and stock prices as the expectation is for more profits and demand for funds," writes Lawrence Summers.

 

2011

AP Photo/Virginia Mayo

December 9, 2011

"Time for the IMF to step forward"

Op-Ed, Washington Post

By Lawrence Summers, Charles W. Eliot University Professor

European leaders will meet Friday for yet another “historic” summit at which the fate of Europe is said to hang in the balance. Yet it is clear that this will not be the last one convened to deal with the financial crisis.

 

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