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Lawrence Summers Quotes
born 1954 United States
Lawrence Henry "Larry" Summers (born November 30, 1954) is an American economist, who was Vice President of Development Economics and Chief Economist of the World Bank (1991–93), senior U.S. Treasury Department official throughout President Clinton's administration (ultimately Treasury Secretary, 1999–2001), and director of the National Economic Council for President Obama (2009–2010).
United States Businesspeople Economists Educators Also known as: Larry Summers
Random Lawrence Summers quote
12 quotes
The situation in a number of countries reminds one that it's still a risky world out there in the emerging markets.
Things take longer to happen than you think they will and then they happen faster than you think they will.
The world over, private financial markets fail when it comes to the very poor, ... Mainstream banks do not seek out poor communities—because that’s not where the money is.
Takeovers wouldn't cause the stock market to rise unless there is an upward reassessment of earnings (potential). People are more optimistic and confident about the future.
No free country will ever again have anything like the 90 percent tax rates that we had in this country. Past a certain point, high marginal tax rates are, indeed, terribly destructive.
With uncertainty in oil markets, a buildup of speculative pressures and the large U.S. current account deficit, there is a real possibility that Paulson's crisis-management skills will be tested.
I know that there is one additional thing that I've learned and that is that what Harvard does and says has an enormous resonance that goes beyond Zip code 02138.
We know the first rule of holes is stop digging. We are in a hole that we have made. If we stop digging, the situation is less serious than if we continue to dig.
Market valuations can differ substantially and persistently from the rational expectation of the present value of cash flows without leaving statistically discernible traces in the pattern of ex-post returns.
Where countries have been able to carry through on their reform commitments -- as in Korea, Thailand and the Philippines -- results are starting to come in the form of lower interest rates, new investment and increased growth.
We must recognise that in an integrated world, trade cannot be divorced from other concerns. We need to promote free trade and serious global efforts with respect to common problems even as we support every nation's right to chart its own course.
The country will not have to pay the piper. Through a combination of sound policy actions and a great deal of good luck we are well on our way to a soft landing and a period of growth and price stability.
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