In an exclusive interview with Prof. Summers and Prof. Edmund Phelps, Thought Economics looks at the story of modern capitalism, the benefits it has brought, and the challenges it has created. The series explores the ‘post crisis’ economy, the role of government in society, the relationship between capitalism, conflict and inequality and looks at what needs to be done to ‘fix’ our global economy, and the science of economics itself. continue
In an March 3, 2015 article in The Washington Post’s Wonkblog Summers talked about technology, inequality and education. Summers reaffirmed the idea that more education won’t solve the inequality problem and called technological change an important fuel for the rising economic share captured by the top 1 percent of American earners.
Summers’ “Asiaphoria Meets Regression to the Mean” NBER Working Paper co-authored with Lant Pritchett, was featured in NBER’s March Digest. The paper demonstrates that typical degrees of regression to the mean imply substantial slowdowns in China and India relative even to currently cautious forecasts. continue