On with Kara Swisher cover image

Larry Summers on the Politics & Economics of Envy

On with Kara Swisher

The Biden Administration Handled the Silicon Valley Bank Debacle

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I am worried when these programs are not just about particular objectives, like helping to fight climate change or promoting resilience. I think we should have supported the semiconductor industry in ways that focused on semiconductors and let the companies figure out whether childcare was an important aspect of their recruitment strategy. We need to make sure that there's a strong general national security rationale for it rather than just a desire to help American workers vis-a-vis foreign workers and foreign companies. And frankly, I think we have too much enthusiasm for the idea in the current moment where people just like any rationale for the government getting involved in planning, directing, managing every aspect of the economy.

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