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

USA. Fort Myers, Fla. October 2008. Foreclosed house.
©Bruce Gilden/Magnum Photos

Lawrence Summers on ‘House of Debt’

The former US Treasury secretary on what ‘could be the most important economics book to come out of the 2008 crisis’

UK austerity is no model for the world

New York is more dependent on financial services yet its GDP is above its previous peak

What is needed to kickstart growth

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

Ukraine needs more than ‘Potemkin cash’

The west should make modest promises and then strive to deliver more than the country expects

America courts Downton economics

Inequality must be addressed, with free markets playing a pivotal role

US must avoid secular stagnation

We must take this chance to renew our infrastructure

Stagnation could be the new normal

In the past decade, before the crisis, bubbles and loose credit were only sufficient to drive moderate growth

Right treatment for the Obamacare bug

There is still time to follow the basic rules of project management

After the fall

US budget battle is the wrong fight

A small increase in economic growth would entirely eliminate the projected long-term budget gap

Help business by taxing profits abroad

The US should eliminate the distinction between repatriated and unrepatriated foreign earnings

US must not hasten cuts to budget deficit

Premature fiscal tightening has taken a toll on UK economic growth, writes Lawrence Summers

Don’t blame Reinhart and Rogoff

Political leaders pushing austerity made their choice, then cast about for intellectual buttresses

America’s problem is not political gridlock

Throughout US history, division and slow change have been the norm rather than the exception

Austerity under fire

Those who make the case for austerity are right that government spending cannot be limitless. But cutting in the face of a deep recession has failed time and again

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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