Thursday, August 14, 2008

Current Economics: Harvard's Larry Summers Perspective

Here's Larry Summers in the Financial Times.

Summers explains the current economic situation and provides context as to how it came about.

I really enjoy reading Summers as he tries to remain unbiased in the more government-less government debate. He simply addresses the problem and then attempts to provide an immensely pragmatic solution using his deep understanding of the effects of certain incentives. Few others who weigh in on these issues can remain as unbiased as Summers. Whether one wishes to admit it or not, our current economic situation is the product of years of complex intertwining of the public and private sectors, and any call for more or less laissez-faire must be conditioned on the potential consequences. Not many other experts--if any--understand that fact as well as Larry Summers.

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