The Global Economic and Financial Outlook
Dr. Summers draws on his extensive experience as a macro-economic and financial thinker and as a key economic policy maker in the Obama and Clinton Administrations to lay out a vision for where the global economy and global markets are headed. He considers both risks, like secular stagnation, and opportunities, like the U.S. energy revolution, as he describes his outlook for the global economy.
Economic Possibilities for Our Children
Dr. Summers believes what we have seen so far is only the beginning of profound changes in the global economy that will arise from technological innovation. He describes how the world will be different a decade and a generation from now and he offers advice on how businesses, investors, managers, and governments should prepare. Dr. Summers foresees great opportunities, but warns that success cannot be taken for granted.
The American Future
Dr. Summers draws on his extensive experience to present a compelling vision for what the United States must do to restore to prosperity at home and strengthen its influence abroad. At a moment when American strength and vitality is both more in question and more essential than ever before, Dr. Summers discusses the key challenges and opportunities facing America.
Lawrence Summers in the news
One of the world's most distinguished voices on the modern economy, here is a sampling of LARRY SUMMERS' media appearances:
Larry Summers sought-out for his expertise on taxes, trade and tariffs
A former U.S. Secretary of the Treasury and Director of the White House Economic Council (the very position Gary Cohn recently resigned from), LARRY SUMMERS is a leading authority on the global economy and finance, in-demand for his insights on the current news surrounding tax and trade policy. Just interviewed on NPR on the Trump’s administration’s decision to impose tariffs on China, Summers sheds light on the impact of U.S.-China relations. He was also recently sought-out for an 11-minute interview with Christiane Amanpour, in which he delivered sharp analysis on Trump's steel tariffs, and their impact on businesses and consumers alike. Insightful, candid, and taking into account both the big and small picture, the interview is a perfect example of why Summers is such a substantive and in-demand speaker. Summers’ tenure at the U.S. Treasury coincided with the longest period of sustained economic growth in U.S. history, and he is the only Treasury Secretary in the last half century to have left office with the national budget in surplus. Currently a regular contributor to the Financial Times, Summers recently made headlines for the conference he coordinated—and headlined—on macroeconomic policies, diving into lessons from past economic crises. His sharp analysis became the basis of articles in The New York Times, The Financial Times, Bloomberg, and Central Banking. He was invited to share a macro overview of U.S. and global economies for an audience of 1,600 C-suite executives at the recent Global Financial Markets Forum, and in the past has been sought-out to speak at companies from PIMCO to PTG Pactual, and has been a regular at Davos and SALT. Audiences hail Summers as “engaging”(PIMCO) “authoritative and thoughtful” (BCA Research) “a master speaker” (Chinese Finance Association) and “fantastic” (Global Agriculture Forum).
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Larry Summers headlines conference on macroeconomic policy
Former Director of the White House National Economic Council and Secretary of the Treasury, LARRY SUMMERS made headlines for the conference he coordinated—and headlined—on “Rethinking Macroeconomic Policy.” In an in-depth and informative session based on his just-published, much-cited white paper “Rethinking Stabilization Policy. Back to the Future,” Summers dove into the lessons from past economic crises, touching on monetary, fiscal and financial policy. The sharp analysis in the paper and presentation became the basis of articles in The New York Times, The Financial Times, Bloomberg, and Central Banking. Frequently sought-out for his insights into current economic policy, Summers’ regular Financial Times blog just generated headlines in Business Insider, CNBC, Bloomberg, and more for his analysis on the new administration’s proposed tax plan.
Larry Summers makes a case for Global Optimism in Foreign Affairs
"Instead of optimism based on this recent progress, however, these days in the West, one more often encounters pessimism related to three current challenges: turbulence in the Islamic world, the rise of China, and intra-Western economic and political sclerosis. But the pessimism is unwarranted, because none of these three challenges is insurmountable..."Read more of Summers' case for Global Optimism >>
What is the blockchain and why does Larry Summers say it will change finance forever?
Blockchain is the technology that underpins digital currency bitcoin which clears financial transactions faster, with less friction and more transparency. Whether or not bitcoin survives as a digital currency, Summers predicts that blockchain technology and digital currency is the undeniable future of finance. Some other respected economists disagree, but as Summers points out, at one point even Bill Gates didn't think the Internet would really go anywhere. Summers is betting big on blockchain technology and digital currency.Read more about Summer's bet on blockchain and digital currency >>
Larry Summers - Former Chief Economist of the World Bank, Former Secretary of U.S. Treasury
A leading authority on international finance, Larry Summers is one of the most distinguished voices on the global economy. Dr. Summers has played a key role in addressing every major financial crisis for the last two decades. During the 1990s, he was a leader in crafting the U.S. response to international financial crises arising in Mexico, Brazil, Russia, Japan, and Asian emerging markets. Dr. Summers’ thinking helped shape the U.S. response to the 2008 financial crisis, to the failure of the automobile industry, and to the pressures on the European monetary system. Dr. Summers is one of the most informed speakers on Brexit.Find out more >>
Former Treasury Secretary Larry Summers is a Senior Advisor to Digital Currency Group
Speaking at the Museum of American Finance on Wall Street, LARRY SUMMERS said Bitcoin, the virtual currency that has become a phenomenon in the technology and financial industries, could help reduce costs and inefficiencies in the global payments system. But so could other payment technologies. “We have seen so little innovation cumulatively directed at taking the frictional costs out of the system,” Mr. Summers said. “The notion that there’s going to be a lot of innovation and experimentation around how those frictional costs can be taken out feels like a very important kind of idea.”
Larry Summers is a Senior Advisor to the Digital Currency Group (DCG), the Bitcoin venture investment firm of SecondMarket founder Barry Silbert. “Digital currencies, blockchain and ‘the internet of value’ will create new platforms for financial inclusion, and Barry and his team at DCG are building an important platform with great potential to help these technologies reach mass adoption.”
Read more about Larry Summer's bet on blockchain and digital currency >>
Trade, Taxes, and Tariffs in the Trump Administration & What it Means for Business
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Former Treasury Secretary Lawrence H. Summers is one of America's leading economists. In addition to serving as 71st Secretary of the Treasury in the Clinton Administration, Dr. Summers served as Director of the White House National Economic Council in the Obama Administration, as President of Harvard University, and as the Chief Economist of the World Bank.
Dr. Summers’ tenure at the U.S. Treasury coincided with the longest period of sustained economic growth in U.S. history. He is the only Treasury Secretary in the last half century to have left office with the national budget in surplus.
Dr. Summers has played a key role in addressing every major financial crisis for the last two decades. During the 1990s, he was a leader in crafting the U.S. response to international financial crises arising in Mexico, Brazil, Russia, Japan, and Asian emerging markets. As one of President Obama’s chief economic advisors, Dr. Summers’ thinking helped shape the U.S. response to the 2008 financial crisis, to the failure of the automobile industry, and to the pressures on the European monetary system. Upon Summers’ departure from the White House, President Obama said, “I will always be grateful that at a time of great peril for our country, a man of Larry’s brilliance, experience and judgment was willing to answer the call and lead our economic team.”
The Economist recognized his influence when it defined the “Summers Doctrine,” an approach to economic policy during financial crises that fuses a microeconomic "laissez faire" mentality with macroeconomic activism. "Markets should allocate capital, labour and ideas without interference, but sometimes markets go haywire, and must be counteracted forcefully by government."
Summers' five years as President of Harvard represented a time of major innovation for the University. He focused on equality of opportunity and removing all financial obligation from students with family incomes below $60,000 a year. He launched a major effort to make Boston, and Cambridge in particular, the global leader in life sciences research, with the formation of major programs for stem cell research and genomics. Perhaps most importantly, he led efforts to renew Harvard College with dramatic increases in study abroad programs, faculty-student contact, and collaboration across the University during his tenure.
Currently, Dr. Summers is the President Emeritus and the Charles W. Eliot University Professor at Harvard University, where he became a full professor at age 28, one of the youngest in Harvard’s recent history. He directs the University’s Mossavar-Rhomani Center for Business and Government. Summers was the first social scientist to receive the National Science Foundation's Alan Waterman Award for scientific achievement and, in 1993, he was awarded the John Bates Clark Medal, given to the most outstanding economist under 40 in the United States. He was elected to the National Academy of Sciences in 2002. He has published several books and more than 150 papers in scholarly journals.
Summers is an advisor to businesses and investors. He serves on the board of two cutting edge financial services startups—Square and Lending Club. He also chairs the boards of Citizen Schools and the Center for Global Development and serves on the executive committee of the board for Teach for America. He recently chaired the Commission on Global Health, lauded by the UN Secretary General who noted that it “will bring more than health – it will bring equity, and contribute to a life of dignity for all.”
President Bill Clinton said that Larry Summers "has the rare ability to see the world that is taking shape and the skill to help to bring it into being." He has been recognized as one of the world’s most influential thinkers by Time, Foreign Policy, Prospect and The Economist magazines among many others. In his speeches, regular newspaper columns in The Financial Times and public commentary, he continues to move forward the debate on national and global economic policy.