Economic pickup could come on unstable ground

April 24th, 2014

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