Setting The Record Straight On Secular Stagnation
Joseph Stiglitz recently dismissed the relevance of secular stagnation to the American economy, and in the process attacked (without naming me) my work in the administrations ... Read more
Lawrence H. Summers
Winning An Election Does Not Entitle One To Upend Basic Values
I will never again use the term “political correctness.” Whatever rhetorical value the term may have once had is far more than offset by what
Voters Deserve Responsible Nationalism Not Reflex Globalism
It is clear after the Brexit vote and Donald Trump’s victory in the Republican presidential primaries that voters are revolting against the relatively open economic policies that
The Economic Consequences Of A Trump Win Would Be Severe
On June 23, the UK will vote on whether to remain in the EU. On November 8, the US will vote on whether to elect
Europe Is Right To Kill Off The Criminal’s Favourite Banknote
Most of the time I use this column to recommend policy changes that I believe would make the world a better place. This time I
Global Trade Should Be Remade From The Bottom Up
Since the end of the second world war, a broad consensus in support of global economic integration as a force for peace and prosperity has been a
Corporate Profits Are Near Record Highs. Here’s Why That’s A Problem
As the cover story in this week’s The Economist highlights, the rate of profitability in the United States is at a near-record high level, as is the share of
Trump’s Rise Illustrates How Democratic Processes Can Lose Their Way
While comparisons between Donald Trump and Mussolini or Hitler are overwrought, Trump’s rise does illustrate how democratic processes can lose their way and turn dangerously
Increasingly Convinced Of The Secular Stagnation Hypothesis
Foreign Affairs has just published my latest on the secular stagnation hypothesis. I am increasingly convinced that it captures what is going on in the
No Free Lunches But Plenty Of Cheap Ones
Trade-offs have long been at the center of economics. The aphorism “there is no such thing as a free lunch” captures a central economic idea: