Recent posts

Robots are hurting middle class workers

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.
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Asiaphoria Meets Regression to the Mean

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

Reflections on Secular Stagnation

Summers gave the keynote address at Princeton University’s Julius-Rabinowitz Center for Public Policy & Finance on February 19, 2015. In his remarks, Summers gave his perspective on the “profound macroeconomic challenge of the next 20 years in the industrial world: secular stagnation.” continue