Start with the idea that you can't repeal the laws of economics. Even if they are inconvenient.
Lawrence SummersJust between you and me, shouldnโt the World Bank be encouraging MORE migration of the dirty industries to the LDCs [Less Developed Countries]?... 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 that... Iโve always though that under-populated countries in Africa are vastly UNDER-polluted, their air quality is probably vastly inefficiently low compared to Los Angeles or Mexico City.
Lawrence SummersSpread the truth-the laws of economics are like the laws of engineering. One set of laws works everywhere.
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