Found 309 article(s) for author 'Lawrence Summers'

Do Americans really need to be more thrifty?

Do Americans really need to be more thrifty? Lawrence Summers, January 7, 2020, Opinion, “Few economic virtues are more universally applauded than thrift. Going back at least to Ben Franklin, Americans have equated greater thriftiness with greater worthiness. Progressives decry the limited saving and wealth accumulation of middle-income families and express alarm over the widely reported “fact” that 40 percent of Americans cannot come up with $400 in an emergency. Conservatives applaud thrift as an aspect of self-reliance and propose ideas such as health-savings accounts to help families prepare for emergencies. Moderates believe universal social insurance programs such as Social Security and Medicare, which they label as entitlements, should be modest or even curtailed out of fiscal prudence.Link

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Yes, our tax system needs reform. Let’s start with this first step

Yes, our tax system needs reform. Let’s start with this first step. Lawrence Summers, November 17, 2019, Opinion, “While there’s plenty of disagreement about how the money should be used, almost everyone involved in public-policy debates agrees that it would be good if the federal government could collect more revenue without raising tax rates or reducing tax deductions or credits.Link

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China’s economic weakness could drive ‘problematic’ nationalism

China’s economic weakness could drive ‘problematic’ nationalism. Lawrence Summers, November 8, 2019 , Video, “Weakness of the Chinese economy could generate “a certain truculence in its international relations” by driving nationalism in the country and “scapegoating of foreigners”, according to economist Larry Summers. The former World Bank chief economist and senior US Treasury Department official, also said de-escalation of trade tensions between the United States and China is not yet an indication for a substantial deal despite the progress.Summers, who has advised two past US presidents, spoke with the South China Morning Post on November 6, 2019, during Credit Suisse’s 10th China Investment Conference in Shenzhen.Link

 

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US-China ‘phase one’ trade deal won’t lead to ‘economic nirvana’

US-China ‘phase one’ trade deal won’t lead to ‘economic nirvana’. Lawrence Summers, November 6, 2019, Video, “The so-called phase one trade deal that the U.S. and China are expected to sign won’t solve all the problems the global economy faces right now, former U.S. Treasury Secretary Larry Summers said Wednesday.
U.S. President Donald Trump said both countries were looking for a location to sign the partial deal — which according to Reuters, could take place this month. That development has fueled recent optimism in financial markets.Link

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Warren’s plan to finance Medicare-for-all pushes into dangerous and uncharted territory

Warren’s plan to finance Medicare-for-all pushes into dangerous and uncharted territory. Lawrence Summers, November 5, 2019, Opinion, “Democratic presidential candidate Elizabeth Warren last week mounted a passionate defense of universal government-provided health care and made a detailed case that it can be paid for without burdening the middle class. The vision of Medicare-for-all is immensely attractive and evokes health systems in other countries that perform much better than ours does. I could easily imagine supporting a well-designed Medicare-for-all plan.Link

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Would a “Wealth Tax” Help Combat Inequality? A Debate with Saez, Summers, and Mankiw

Would a “Wealth Tax” Help Combat Inequality? A Debate with Saez, Summers, and Mankiw. Lawrence Summers, N. Gregory Mankiw, October 16, 2019, Video, “Emmanuel Saez, a leading architect of the “wealth tax” plans advocated by Senators Elizabeth Warren and Bernie Sanders, outlined his proposals at the PIIE conference on “Combating Inequality: Rethinking Policies to Reduce Inequality in Advanced Economies” on October 17–18, 2019. Lawrence Summers of Harvard, top economic policymaker in the Clinton and Obama administrations, delivered a tough critique of Professor Saez’s proposals. He was joined in the criticism by Gregory Mankiw, also a Harvard economic professor, and a former top economic adviser to President George W. Bush. Watch this important and timely discussion, moderated by Catherine Rampell of the Washington Post.Link

 

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U.S. economy is just one bad recession away from zero rates or worse

U.S. economy is just one bad recession away from zero rates or worse. Lawrence Summers, October 14, 2019, Video, “The United States is just one bad recession away from being right back at zero interest rates or even lower, Larry Summers warned on CNBC on Monday. “It’s a very different world when everyone’s stuck at zero interest rates,” said Summers, a critic of President Donald Trump who served as former President Bill Clinton’s Treasury secretary and as an economic advisor for former President Barack Obama.Link

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We no longer share a common lived experience

We no longer share a common lived experience. Lawrence Summers, October 9, 2019, Opinion, “The economic geography of the United States is central to our most serious economic, social and political problems. And yet it is a subject that receives only the episodic attention of federal policymakers and initiatives that are far too small to have a meaningful chance of success.Link

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