Honestly with Bari Weiss Larry Summers: The High Price of Getting it Right
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Aug 18, 2022 
Larry Summers, renowned economist and former Treasury Secretary, dives into the pressing issues of inflation and economic policy. He critiques government spending, reflecting on its historical parallels. Summers advocates for meaningful work over universal income, proposing community-based solutions. The discussion also touches on the repercussions of cancel culture in academia, emphasizing the need for open dialogue. He shares insights on navigating institutional trust and the implications of the Inflation Reduction Act, all while addressing the balance between free speech and accountability.
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Inflation Prediction
- Larry Summers predicted inflation by analyzing stimulus size.
- He compared it to 2009 and the Vietnam War era, noting excessive spending and accommodating Fed policies.
Why Others Missed It
- Many economists missed the inflation prediction due to short memories and flawed models.
- They also held a motivated belief, wanting to avoid past mistakes of slow recovery.
Working with Critics
- Despite criticizing the Biden administration, Summers advises them.
- He emphasizes focusing on ideas and respecting others' sincerity.