Lawrence Summers quotes

Lawrence Summers is an influential American economist and former Treasury Secretary. Widely recognized for his work in public policy and academic leadership, he has served as President of Harvard University and Director of the National Economic Council. He continues to be a prominent voice on economic and financial issues worldwide. Here are 33 of his quotes:

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.

Lawrence Summers

...it's important to remember how fortunate we are as a country to have a currency and a bond market that is seen in every way as a source of strength and it's a huge responsibility for us to keep it that way.

Lawrence Summers

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.

Lawrence Summers

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.

Lawrence Summers

The things you hear now about European unemployment -- that there are structural problems, that real wages have failed to adjust, that there are inflationary fears -- are the same things that were said during the early 1930. It is well established that government spending began to pull Germany out of its slump in 1935. There is no known reason why spending for peace can't do as well at getting the economy going as spending for war.

Lawrence Summers

In the history of the world, no one has ever washed a rented car.

Lawrence Summers

In politics, as in poetry, it is sometimes true that it is darkest before dawn.

Lawrence Summers

The dramatic modernization of the Asian economies ranks alongside the Renaissance and the Industrial Revolution as one of the most important developments in economic history.

Lawrence Summers

It says something about this new global economy that USA Today now reports every morning on the day's events in Asian markets.

Lawrence Summers

Things take longer to happen than you think they will and then they happen faster than you think they will.

Lawrence Summers

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.

Lawrence Summers

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.

Lawrence Summers

The situation in a number of countries reminds one that it's still a risky world out there in the emerging markets.

Lawrence Summers

I deeply regret the impact of my comments and apologise for not having weighed them more carefully ... I was wrong to have spoken in a way that has resulted in an unintended signal of discouragement to talented girls and women.

Lawrence Summers

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.

Lawrence Summers

Global capital markets pose the same kinds of problems that jet planes do. They are faster, more comfortable, and they get you where you are going better. But the crashes are much more spectacular.

Lawrence Summers

There are children who are working in textile businesses in Asia who would be prostitutes on the streets if they did not have those jobs.

Lawrence Summers

I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to it.

Lawrence Summers

It used to be said that when the U.S. sneezed, the world caught a cold. The opposite is equally true today.

Lawrence Summers

We are inheriting the worst financial system since the Depression. We're inheriting a situation - when people go back and study major banking crises a quarter century from now, the one that America developed in 2007 and 2008 is going to be one of those crises.

Lawrence Summers

The availability of private insurance provides tremendous insulation for millions of individuals.

Lawrence Summers

You can't have a situation in which companies proceed on a permanent basis relying only on cash from the government.

Lawrence Summers