Found 263 article(s) for author 'Lawrence Summers'

A jobs guarantee — progressives’ latest big idea

A jobs guarantee — progressives’ latest big idea. Lawrence Summers, July 2, 2018, Opinion, “The percentage of US workers, or those seeking employment, aged 25-54 has declined over the past two decades. The impulse behind the latest “big” progressive idea of offering job guarantees is entirely valid. Studies show that those without jobs are much more likely to be dissatisfied with their lives, to become addicted to alcohol or drugs, and to be abusive within their family than even those working at low wages they find inadequate.Link

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Too-Tight Fed Policy Greater Risk Than Inflation

Too-Tight Fed Policy Greater Risk Than Inflation. Lawrence Summers, July 1, 2018, Video, “Former U.S. Treasury Secretary Lawrence Summers said Federal Reserve interest-rate hikes that slow the nearly decade-long expansion are a greater risk to the economy than inflation. “Is the strategy one of relying on the Phillips curve and trying to preempt inflation, or is the strategy one of trying to let the economy grow as much as possible and respond to inflation problems as they arise,” Summers said in an interview Wednesday on Bloomberg Television. “I would very much favor the second.”Link

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Productivity and Pay: Is the Link Broken?

Productivity and Pay: Is the Link Broken? Lawrence Summers, June 2018, Paper, “Since 1973 median compensation in the United States has diverged starkly from average labor productivity. Since 2000, average compensation has also begun to diverge from labor productivity. These divergences lead to the question: Holding all else equal, to what extent does productivity growth translate into compensation growth for typical American workers? We investigate this, regressing median, average, and  production/nonsupervisory compensation growth on productivity growth in various specifications. We find substantial evidence of linkage between productivity and compensation…Link

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Larry Summers Discusses Areas of Growth and Concern for the U.S. Economy

Larry Summers Discusses Areas of Growth and Concern for the U.S. Economy. Lawrence Summers, June 5, 2018, Audio, [Episode 1] “In our inaugural episode, Former US Treasury Secretary Larry Summers tackles issues of sustainable growth, equality of opportunity, and why the story of China is more important than the Industrial Revolution.Link

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Amazon should not be labeled a monopoly for being an effective retailer

Amazon should not be labeled a monopoly for being an effective retailer. Lawrence Summers, April 20, 2018, “Amazon should not be punished by the Trump administration for being an effective retailer, former Obama administration economic advisor Larry Summers said Friday. “I don’t think that growing by providing products at low cost is [a] monopoly,” the former Treasury secretary told CNBC’s Sara Eisen in an interview from the spring meetings of the IMF and World Bank in Washington. “Amazon is just being a really effective retailer. That is not a reason for antitrust.”Link

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The boom in Puerto Rican debt has nothing to do with reality

The boom in Puerto Rican debt has nothing to do with reality. Lawrence Summers, April 17, 2018, Opinion, “Desmond Lachman, Brad Setser and Antonio Weiss have written a very strong analysis of the Puerto Rico situation. If ever there was a disconnect between underlying reality and what is happening in financial markets, it is the boom in Puerto Rican debt that has nearly doubled the value of some of its debt securities during the past few months.” Link

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