Found 220 article(s) for author 'Lawrence Summers'

Productivity and Pay: is the link broken?

Productivity and Pay: is the link broken? Lawrence Summers, November 2017, Paper, “After growing in tandem for nearly 30 years after the second world war, since 1973 an increasing gap has opened between the compensation of the average American worker and her/his average labor productivity. Brynjolffson and McAfee (2014) use the phrase “the great decoupling” to describe this phenomenon; Bivens and Mishel (2015) refer to it as a “historic divergence”. In recent years discussion has centered on understanding why this phenomenon has occurred and how policy should respond.Link

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‘It’s crazy for a president to wrap himself in the stock market’

‘It’s crazy for a president to wrap himself in the stock market. Lawrence Summers, November 8, 2017, Audio, “Larry Summers thinks it’s “crazy” that President Donald Trump spends so much time bragging about how great he’s been for the stock market.  The former Treasury secretary and current Harvard professor argues that Trump, who tweets regularly about new stock market records, is setting himself up for a crushing blow if markets tumble.Link

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Three (almost) inexplicable parts of the Republican tax plan

Three (almost) inexplicable parts of the Republican tax plan. Lawrence Summers, November 5, 2017, Opinion, “With the release of the Republican tax proposal, the most important tax debate in a generation is in full swing. Most reasonable experts agree that tax reform has the potential to spur investment and raise wages while also simplifying the system and increasing its fairness and legitimacy. The right question for debate is not the desirability of tax reform or even of business tax reform directed at spurring investment. It is the likely economic effect of particular proposals.Link

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What I do support in a new tax plan

What I do support in a new tax plan. Lawrence Summers, October 25, 2017, Opinion, “I have been very sharply critical of what I regard as unprofessional exaggeration by advocates of the Trump tax proposal. Reasonably enough, people have asked what I am for. I strongly support tax reform in general and especially corporate tax reform on the model of the highly successful bipartisan 1986 tax reform, which achieved very large rate reductions, spurred economic growth and improved the efficiency of the economy while being revenue- and distribution-neutral.Link

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The Business Roundtable’s outlandish tax cut claims

The Business Roundtable’s outlandish tax cut claims. Lawrence Summers, October 23, 2017, Opinion, “I think of myself as pro-business. I frequently counseled the Obama administration that “business confidence is the cheapest form of stimulus,” and during my times in government have found meetings with business leaders very helpful in understanding economic policy challenges. So when the Business Roundtable (BRT) does an analysis, I pay close attention.Link

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One last time on who benefits from corporate tax cuts

One last time on who benefits from corporate tax cuts. Lawrence Summers, October 22, 2017, Opinion, “I recently asserted that Kevin Hassett deserved a failing grade for his “analysis” projecting that the Trump administration proposal to reduce the corporate tax rate from 35 to 20 percent would raise the wages of an average American family between $4,000 to $9,000. I chose harsh language because Hassett had, for what seemed like political reasons, impugned the integrity of people like Len Burman and Gene Steuerle who have devoted their lives to honest rigorous evaluation of tax measures by calling their work “scientifically indefensible” and “fiction.” Since there have been a variety of comments on the economics of corporate tax reduction, some further discussion seems warranted.Link

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Trump’s top economist’s tax analysis isn’t just wrong, it’s dishonest

Trump’s top economist’s tax analysis isn’t just wrong, it’s dishonest. Lawrence Summers, October 17, 2017, Opinion, “Kevin Hassett, the White House’s chief economist, accused me of an ad-hominem attack against his analysis of the Trump administration’s tax plan. I am proudly guilty of asserting that it is some combination of dishonest, incompetent and absurd. Television does not provide space to spell out the reasons why, so I am happy to provide them here.Link

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Hassett’s flawed analysis of the Trump tax plan

Hassett’s flawed analysis of the Trump tax plan. Lawrence Summers, October 17, 2017, Video, “Kevin Hassett, chair of the Council of Economic Advisers, accuses me of an ad-hominem attack against his economic analysis of the Trump administration’s tax plan. I am proudly guilty of asserting that it is some combination of dishonest, incompetent and absurd. TV does not provide space to spell out the reasons why, so I am happy to provide them here.Link

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Counting and Caring

Counting and Caring. Lawrence Summers, October 17, 2017, Paper, “The article presents the author’s views on economist Howard Raiffa who is known for his contributions to both decision sciences and negotiation analysis. Topics include the impact of Howard’s book “Decision Analysis” on the author in developing intellectual interests; and the role of his book in helping the author learn about Bayesian models and group decision making.Link

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Summers Says Trump Officials Are Making Things Up About Their Tax Plan

Summers Says Trump Officials Are Making Things Up About Their Tax Plan. Lawrence Summers, October 13, 2017, Video, “Former U.S. Treasury Secretary Lawrence Summers said officials in President Donald Trump’s administration are making false claims when it comes to tax reform.  “When you have — and I hate to be in a position of using this word about our government — when you have senior economic officials making claims that are made-up,” said Summers, who served under Democratic presidents Bill Clinton and Barack Obama, adding that “it’s very hard to have a dialogue, and compromise, and get to a good place.Link

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