HKS Affiliated Authors
Frank and Denie Weil Director of the Mossavar-Rahmani Center for Business and Government
Charles W. Eliot University Professor
Excerpt
Excerpt
Larry Summers on why the economy is broken — and how to fix it. Lawrence Summers, January 14,2014, Video. "In November, former Treasury secretary Larry Summers took the podium at the International Monetary Fund's annual conference and delivered a speech that shook the economics world. The weak recovery, he hypothesized, isn't just the hangover from the financial crisis. It's evidence of a sickness that predated the crisis. Looking back over the last decade, he argued that the economy, even in the seemingly good times, has been incapable of creating enough demand absent bubbles..." Link