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 SummersBlaming speculators as a response to financial crisis goes back at least to the Greeks. It's almost always the wrong response.
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