In an interview with Greg Robb of Marketwatch on April 23, 2014, Summers talks about secular stagnation, bubbles and Thomas Picketty’s new book. He says, “My fear is that if we do achieve sustained growth based on current financial conditions, before long it would give rise to significant bubbles. That’s why I think we need a more investment-oriented approach to supporting growth and the reason why I put such emphasis on fiscal policy.” Continue reading
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Will 2014 End Up Like 1914?
In a speech to the Canadian International Council, upon accepting the 2014 Globalist of the Year award, in Toronto on April 9, 2014, Summers said, “2014 is a year, if you think about it correctly, of anniversaries. It is the 100th anniversary of 1914, a moment when the world mismanaged itself and reaped the legacy of its mismanagement in as terrible a way as has ever occurred.” continue reading
Secular Stagnation? Challenges for Econ Policy
Summers talked with Chrystia Freeland on April 12, 2014 at the Institute for New Economic Thinking in Toronto, Canada. In his session, “Secular Stagnation? The Future Challenge for Economic Policy,” Summers provided some first thoughts on Thomas Piketty’s new book. continue reading