Lawrence Summers
Lawrence Summers
Lawrence Henry "Larry" Summersis an American economist who is President Emeritus and Charles W. Eliot University Professor of Harvard University...
NationalityAmerican
ProfessionPolitician
Date of Birth30 November 1954
CountryUnited States of America
effective focus resources
This is something new. This is an intensified focus and allocation of enforcement resources in the most effective way,
approach concerns energies focusing prudent rather stock strengthen taken
I think the approach we have taken in the administration, of focusing our energies and concerns on the fundamentals and working to strengthen those fundamentals, has been the prudent approach rather than focusing on the stock market,
certainly develop economic focus market reference respect stock sustain together
Certainly there was reference to that (Friday's stock market plunge) but the focus of our discussions was on the fundamentals of our economies, what we could do together to develop and sustain economic growth, ... With respect to the stock market, our focus is not to focus on that.
alongside capital create fact flow focus framework government markets needs private rather role support vast
The IMF needs to focus on the fact that it and all of us in government are alongside what are now vast private markets, ... Our role needs to be (to) support rather than supplant those private markets and to try to create a framework in which the flow of private capital will be stable.
attention focus needs
The IMF needs to focus its attention to countries' vulnerability
expand further hoping
Ultimately, we're hoping to expand this further (beyond Boston).
ahead basis billion borrowing clearly costs debt federal government management ongoing percentage point produce rapidly reduction savings task trillion ultimately
The ongoing task of debt management for the federal government will clearly be very different in the years ahead than it has been in the past, when debt was rapidly increasing, ... With $3.6 trillion in debt outstanding, even a 3 basis point (0.03 percentage point) reduction in federal borrowing costs will ultimately produce savings of more than $1 billion per year.
climate discourse government impressed notions prevailing took ultimately
But ultimately what I was impressed by during my years in government was how much the intellectual climate and the prevailing intellectual notions constrained and represented the universe within which the discourse took place.
I've always thought that underpopulated countries in Africa are vastly underpolluted.
ensure strengthen time
Now is the time for us to strike. We must strengthen our foothold in Asia, to ensure no nation overtakes us.
attack irs order promote
What we must not do is attack the IRS in order to promote other agendas,
behavior both element enters factors freely hoarding influence market medium oil question respect run seen short time trading
We've seen some indications that there may be some hoarding behavior, but there are many, many factors that influence oil prices, both with respect to the short run and over the medium term, ... But there's no question that -- as in any freely trading market -- there's a psychological element that enters in from time to time.
driven far national personal rate savings
Our national savings rate is still far too low, driven by a personal savings rate that is not where it should be,
adjustment balanced believe countries expansion exports global increased needs public rather reduced
We believe the global expansion needs to be balanced up, not balanced down, ... An adjustment should take place in our countries through increased public savings. Internationally, there needs to be an adjustment through an increase in exports rather than reduced imports.