Found 205 article(s) for author 'Lawrence Summers'

In shutdown debate, focus should be on growth instead of deficit

In shutdown debate, focus should be on growth instead of deficit. Lawrence Summers, October 13, 2013, Opinion. “Washington is consumed by the impasse over reopening the government and raising the debt limit. It seems likely that this episode, like the 1995-96 government shutdowns and the 2011 debt-limit scare, will be remembered mainly by the people directly involved. But future historians may well see today’s crisis as the turning point at which American democracy was shown to be dysfunctional — an example to be avoided rather than emulated. This tragedy is compounded by the fact that most of the substance being debated…” Link verified March 28, 2014

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The 2013 Martin Feldstein Lecture: Economic Possibilities for Our Children

The 2013 Martin Feldstein Lecture: Economic Possibilities for Our Children. Lawrence Summers, July 24, 2013. This is the 40th anniversary of the summer whcn I first met Marty Fddstcin and went to work for him. I learned from working under Marty’s auspices that empirical economics was a profoundly important thing. that it had the opportunity to illuminate the world in important ways. that it had the opportunity to changc peopic’s perspectives as they thought about economic problems. and that the successful solution or resolution of economic problems didn’t happen with the immediacy with which a doctor treated a patient…” Link

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Corporate tax reform needs resolution

Corporate tax reform needs resolution. Lawrence Summers, July 10, 2013, Opinion. “No one is satisfied with the U.S. corporate tax system. From one perspective the main problem is that at a time when corporate profits are extraordinarily high relative to GDP, tax collections are very low relative to GDP. And many very successful companies pay little or nothing in taxes at a time when the budget deficit is a major concern and when hundreds of thousands of defense workers are being furloughed and lotteries are being held to determine which children the “Head Start” program can no longer afford to help. From another perspective, the main problem is that the United States …” Link

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The Fiscal and Economic Effects of Austerity

The Fiscal and Economic Effects of Austerity. Lawrence Summers, June 4, 2013, Paper. “In Professor Summers’ testimony before the Senate, he sets out to do three things: First, he characterizes the economic and fiscal outlook. Second, he reflects on the economics of austerity, arguing that too little of the policy debate in recent years has focused on the imperative of increasing economic growth which, in the short and medium term, goes back to issues relating to demand. Third, he comments on some of what he sees as policy priorities for the years ahead…” Link

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Austerity would hurt U.S. jobs and growth

Austerity would hurt U.S. jobs and growth. Lawrence Summers, June 2, 2013, Opinion. “Around the world the idea of “austerity” is fiercely debated. The various strengths and weaknesses of the global economy make opportune a reconsideration of the principles that should guide fiscal policy: Paced by housing and energy, the U.S. recovery is likely to accelerate this year, and budget deficit projections have declined as well; meanwhile, theEuropean economy remains stagnant, though there is evidence that stimulative policies are gaining traction in Japan. It is critical that policies be set in light of economic circumstances…” Link

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Lawrence Summers on the Interplay Between Government and Business

Lawrence Summers on the Interplay Between Government and Business. Lawrence Summers, April 3, 2013, Audio . “Harvard University President Emeritus Lawrence Summers, a former US Treasury Secretary and economic advisor to President Obama, discusses structural problems with the US economy that have been exposed by the recession, how government and business must work together to spur growth, the need for regulations to eliminate the causes of the recession and his outlook on the continuing economic recovery…..” Link 

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Europe’s Hair-Trigger Economy

Europe’s Hair-Trigger Economy. Lawrence Summers, March 18, 2013, Opinion. “Europe’s economic situation is viewed with far less concern than was the case six, 12 or 18 months ago. Policymakers in Europe far prefer engaging the United States on a possible trade and investment agreement to more discussion on financial stability and growth. However, misplaced confidence can be dangerous if it reduces pressure for necessary policy adjustments. There is a striking difference between financial crises in memory and as they actually play out. In memory, they are a concatenation of disasters. As they play out…” Link

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Changing the tax code could help curb inequality

Changing the tax code could help curb inequality. Lawrence Summers, February 16, 2013, Opinion. “The United States may be on course to becoming a “Downton Abbey” economy. There are valid causes for concern about inequality: sharp increases in the share of income going to the top 1 percent of earners, a rising share of income going to profits, stagnant real wages and a rising gap between productivity growth and growth in median family incomes. A generation ago, it could have been asserted that the economy’s overall growth rate was the dominant determinant of growth in middle-class incomes and progress in reducing poverty…” Link verified March 28, 2014

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