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.
Lawrence SummersGlobal 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 SummersBlaming speculators as a response to financial crisis goes back at least to the Greeks. It's almost always the wrong response.
Lawrence SummersIt says something about this new global economy that USA Today now reports every morning on the day's events in Asian markets.
Lawrence SummersIt'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 SummersWhat's the single most important thing to learn from an economics course today? What I tried to leave my students with is the view that the invisible hand is more powerful than the hidden hand. Things will happen in well-organized efforts without direction, controls, plans. That's the consensus among economists. That's the Hayek legacy.
Lawrence Summers