The Good Fight
Larry Summers on Harvard’s Showdown With Trump
Apr 19, 2025
Larry Summers, a distinguished Harvard professor and former Treasury Secretary, joins Yascha Mounk for a deep dive into the challenges faced by elite institutions under the Trump administration. They discuss the troubling implications of tariffs and rising nationalism for the U.S. economy, highlighting risks of stagnation and inflation. Summers critiques the erratic nature of recent trade policies and examines how universities can navigate political pressures while striving to rebuild public trust and credibility amidst increasing scrutiny.
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Quick takeaways
- High tariffs imposed by the Trump administration could stifle U.S. economic growth, leading to inflation and reduced purchasing power for consumers.
- The erosion of public trust in universities challenges their role in promoting open inquiry and academic freedom amid political pressures.
Deep dives
The Risks of Tariffs and Economic Decline
High tariffs, particularly those imposed by the Trump administration, threaten to stifle economic growth in the United States. Such tariffs result in increased prices for consumers, leading to inflation and reduced purchasing power, which can push the economy into a recession. Businesses struggle to absorb these costs, creating a cascading effect that disrupts the supply chain, and positions U.S. industries at a disadvantage in the global market. Furthermore, there's a significant risk of retaliation from other countries, which could further isolate the U.S. economy and diminish its competitive edge.
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