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Larry Summers on Fareed Zakaria GPS

November 19th, 2021

A triumph of Detroit over Davos

November 3rd, 2021

The leaders of the Group of 20 nations, representing the largest economies in the world, gathered Saturday to announce agreement on a deal that will create a more worker-centered global economy.

This agreement is arguably the most significant international economic pact of the 21st century so far. It is built around a profoundly important principle: Countries should cooperate to raise corporate taxation, not compete to reduce it. At a time of much cynicism about government, this agreement is a triumph of American leadership, for Treasury Secretary Janet L. Yellen and her colleagues. It also demonstrates the power of ideas to shape economic policy, as tax scholars have for years been pondering the conundrums of taxing global companies.

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