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
June 29, 2008
"What we can do in this dangerous moment"
Op-Ed, Financial Times
By Lawrence Summers, Charles W. Eliot University Professor
"It is quite possible that we are now at the most dangerous moment since the American financial crisis began last August," says Lawrence Summers. Summers, a member of the Belfer Center's Board of Directors, says the staggering increases in oil prices and other commodities has brought consumer confidence to new lows and raised serious inflation concerns. He urges Congress to pass the housing bill immediately, to promptly pass other fiscal measures in response to the nation's economic difficulties, and to address non-monetary factors causing inflation concerns. In addition, Summers says, regulators should do what is necessary "to assure that in the event of an institution becoming insolvent they can manage the resolution in a way that protects the system while also protecting taxpayers."
June 1, 2008
""Six principles for regulatory order""
Op-Ed, Financial Times
By Lawrence Summers, Charles W. Eliot University Professor
Lawrence Summers argues that missing from the U.S. financial debate is discussion of "principles describing the properties of any desirable regulatory regime, against which proposals can be evaluated." Among his six principles: ensure that regulators "cannot compete to supervise particular institutions;" and do not allow institutions to determine capital levels "based on risk models of their own design."
AP Photo
5 May 2008
"A Strategy to Promote Healthy Globalisation"
Op-Ed, Financial Times
By Lawrence Summers, Charles W. Eliot University Professor
Lawrence Summers explains why a growing global economy is worrisome to U.S. workers, and encourages policymakers to work for the interests of U.S. citizens while maintaining an open, global economy.
April 27, 2008
"America Needs to Make a New Case for Trade"
Op-Ed, Financial Times
By Lawrence Summers, Charles W. Eliot University Professor
Larry Summers writes about America's need to reevaluate international trade in this current financial crisis in order to support the American people.
AP Photo
April 10, 2008
The Current Economic Situation
Testimony
By Lawrence Summers, Charles W. Eliot University Professor
Lawrence Summers testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs to discuss solutions to mitigate the rising number of foreclosures occurring across the nation, which have led to turmoil in the mortgage and credit markets.
AP Photo
January 16, 2008
"Fiscal Stimulus Issues"
Testimony
By Lawrence Summers, Charles W. Eliot University Professor
Lawrence Summers testified before the U.S. Congress Joint Economic Committee about his assessment of the deteriorating economic conditions in the country and his views on targeted, timely and temporary measures to help middle class families weather a likely recession.
AP Photo
January 6, 2008
"Why America must have a fiscal stimulus"
Op-Ed, Financial Times
By Lawrence Summers, Charles W. Eliot University Professor
The odds of a 2008 US recession have surely increased after a very poor employment report, growing evidence of weak holiday spending, further increases in oil prices, more dismal housing data and further writedowns in the financial sector. Six weeks ago my judgment in this newspaper that recession was likely seemed extreme; it is now conventional opinion and many fear that there will be a serious recession.
AP Photo
December 19, 2007
Risks of Recession, Prospects for Policy
Speech
By Lawrence Summers, Charles W. Eliot University Professor
In a speech delivered at the Brookings Institution, Lawrence Summers discusses the state of the U.S. economy: "Our current economic situation requires a comprehensive program of measures to contain the fallout from problems in the financial and housing sectors and to assure sufficient policy support for economic growth over the next several years. Perhaps because of a failure to appreciate the gravity of our current situation and the problems our political process has in responding quickly and collaboratively to emergent threats, such a comprehensive program is neither in place nor in immediate prospect."
AP Photo
November 28, 2007
"Wake Up to the Dangers of a Deepening Crisis"
Op-Ed, Financial Times (London)
By Lawrence Summers, Charles W. Eliot University Professor
As the signs of an oncoming recession increase, stronger policy responses need to be implemented to prevent a potential serious economic recession in the United States.
