Where the Economy, and the World, Are Headed
Vložit
- čas přidán 27. 06. 2024
- If you want to know where the economy is headed, ask an economist. If you want to know why (and more), ask a treasury secretary, an economic diplomat, a director of the National Economic Council and the president of Harvard. Larry Summers has been all of those things (and more).
Andrew Ross Sorkin, Interviewer
Lawrence Summers
Now in its 20th year, the Aspen Ideas Festival is the Aspen Institute’s signature summer public event. From June 23-June 29, 2024 more than 300 leaders and innovators gather in the Rocky Mountains to engage in deep and inquisitive discussion of the issues that shape our lives and challenge our times, spanning politics, business, science, the arts, education, and more. #AspenIdeas
For more information about the Aspen Ideas Festival, visit www.aspenideas.org.
What Summers said about his grandmother echoes a book by the Northwestern economic historian Robert Gordon. The book is well worth reading.
A presidents' policies have a significant lag effect, meaning that trumps' inflationary tax cuts, tarrifs, and out of control spending drove inflation after he left office
Comments on AI and the scaling of world events are really interesting and intuitively correct. He must have been quite amazing as an educator.
There's an error in your description, I'll fix it for you. "If you want to know where the economy is headed, DON'T ask an economist." They have no clue what they're talking about. They live in a hypothetical world that they try to manipulate to match their hypothesis. It's backwards from science. It's a belief system, it's a religion. When we get into the idea that economics is more than the trade of goods and services, then involving a currency to facilitate that, we've arrived in Lalaland.
Harvard has no comparative advantage in nurturing EQ - so why will Harvard survive?
feels like hes happier nice
Automated insight, AI is the SingularitY because it can improve itself without guidance from humans. Whoever is lucky enough to own NVDA can now just sit back, relax, prop his feet up on the desk, and wait for the money to roll in. 😮😮
Great to be see an invigorated Summers.
short on elon?
Summers sounds like a guy trying to talk while passing a Bric.
😊😊😊😊😊
Is elon a top 100 ceo? What about stephen schwarzman ? ... they're all supporting trump this time.
okolosinagoga)))
Summers looks,s ounds and acts like someone just dragged him out of a bar. His time as a pundit or economist has come and gone.
You NEVER ask an economist where the economy is heading. If that was true, then economists would be the best investors in the world, and would be incredibly wealthy due to their investing acumen. However, most commonly the opposite is true. Instead better off asking successful traders and investors.
Actually Summers is a very successful and wealthy investor
Clif Asness, billionaire head one of the largest hedge funds in the world, was an economics phd candidate. Keynes also grew very wealthy through investing, much of it in a period where the market as a whole performed poorly. Summers has also been quite successful as the other mentioned.
Larry is a smart guy but he needs to learn to put his bias against Trump to the side. Trump was President for 4 years and his policies certainly didn't tank the economy or cause inflation.
No, a worldwide, unprecedented epidemic did
Trump exploded the deficit -- nearly doubling it to almost $1 T a year, even before the covid pandemic hit. The tax cut he passed was totally reckless. The bill would come due eventually for the borrowed money and unpaid for spending, in a Trump second term or Biden's term, even without covid. A short term sugar high of tax cuts that are unpaid for and passed onto the next generation is nothing but gamesmanship and sleight of hand. And I say that as a person who voted against Obama and hated his policies.
What Larry talked about are trump's policies that are either new or spicier old ones.
@@justwhenithought I'm glad Larry can see into the future. Also the spicer old ones like tariffs on China have not only remained in the Biden administration but tariffs have actually been added on certain Chinese products.
Biden followed Trump's policies almost to the letter and failed. If America wants to put America first, it has to sacrifice America good.
Anti-China policies don't bring back jobs to America or stabilise it's yoyo economy, it has to be anti-gobalisation. Tariff all imports with very small exceptions. The working class will be happy but the elite will not.
Just some Libby 🐓🍭🧚
FJB