Contagion has become very much a phenomenon, and it's a phenomenon of globalization.
Lawrence SummersThe idea that we should be open to all ideas is very different from the supposition that all ideas are equally valid.
Lawrence SummersIt used to be said that when the U.S. sneezed, the world caught a cold. The opposite is equally true today.
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