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S E50: A Conversation with Larry Summers: The Influence of Economic Ideas and the Dangers of Secular Stagnation
Think Like An Economist
Do You Think Like an Economist?
I think if we can strengthen our systems of social insurance, it's much better that we have collective insurance than that everybody insures for themselves by saving. I think it's kind of ironic that so much of the savings flows from poor countries to rich countries. We would be exporting more, and that would be an important source of demand. What secular stagnation teaches is that a central macra economic problem s absorbing all the savings.
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