The economic traps to avoid

Clear-eyed, bold action is what the world requires if the financial drama is to subside

Europe’s failed state in waiting

Greece is no longer about numbers. It is about the high politics of Europe

Setback to American leadership on trade

We do not need more globalisation, but to make sure the globalisation we have works for all citizens

Ukraine merits debt reduction

Failure to cut burden would confirm view that private interests influence public policy too much

Time US woke up to new economic era

Failure of strategy and tactics was a long time coming

Trade deal must work for US middle class

The view is that trade and globalisation have increased inequality in the US

Inflation should be the focus for Fed

Aborting recovery and risking a further slowing of price rises is potentially catastrophic

Morning again for the middle classes

There is little hope for integration and co-operation if it is seen as benefiting a global elite

Time to put a proper price on carbon

The fall in oil prices and declines in other energy prices make the case for a tax overwhelming

A sign of lost collective faith

The only answer is prompt and aggressive responses to failure

Companies on trial

Brandon Garrett asks whether America’s legal system has swung too far towards rehabilitation at the expense of deterrence and punishment

We play with fire if we skimp on health

Ebola was a ‘stress test’ on health systems, and in Sierra Leone, Liberia and Guinea they could not cope

Public investment really is a free lunch

The IMF finds that a dollar of spending increases output by nearly $3

Reform is the answer to secular stagnation

There may be supply-side barriers that hold the economy back before constraints on demand bind

Second-term presidents lost US 40 years

Leaders nearing the end of their time in office lose the ability to influence other actors by offering future rewards

Put US foreign policy back on the pitch

A failure to engage with global economic issues is a failure to mount a strong defence

Rich have advantages money cannot buy

The differences between the rich and everyone else are about health and opportunity

Lawrence Summers on ‘House of Debt’

Did the response to the financial crisis focus too much on banks while neglecting over-indebted homeowners?

UK austerity is no model for the world

New York is more dependent on financial services than Britain and its GDP has outstripped its previous peak

What is needed to kickstart growth

The post-crisis panic might be subsiding but medium-term prospects are problematic

ABOUT LAWRENCE

Lawrence Summers Lawrence H. Summers was director of the National Economic Council for President Barack Obama until November 2011. He is currently the Charles W. Eliot University Professor at Harvard University and Weil Director, Mossavar-Rahmani Center for Business & Government at the Harvard Kennedy School. He served as 27th president of Harvard from July 2001 until June 2006 and has served in a series of senior public policy positions, including secretary of the treasury of the United States, political economist for the President’s Council of Economic Advisers and chief economist of the World Bank.

In 1993 he received the John Bates Clark Medal, given every two years to the outstanding American economist under the age of 40. Mr Summers received his BS from MIT and his PhD in economics from Harvard.

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