Lawrence Summers Quotes
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There are idiots. Look around.
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Takeovers wouldn't cause the stock market to rise unless there is an upward reassessment of earnings (potential). People are more optimistic and confident about the future.
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Where countries have been able to carry through on their reform commitments - as in Korea, Thailand and the Philippines - results are starting to come in the form of lower interest rates, new investment and increased growth.
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We must recognise that in an integrated world, trade cannot be divorced from other concerns. We need to promote free trade and serious global efforts with respect to common problems even as we support every nation's right to chart its own course.
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The idea that we should be open to all ideas is very different from the supposition that all ideas are equally valid.
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One of those disturbing tendencies in academic life is that there is a desire on the part of many in the name of open-mindedness to fall into a kind of relativistic denialism in which all positions are equally legitimate, all positions must be respected, and compromise must be entered into no matter what the starting point or reasonableness of the two parties.
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With uncertainty in oil markets, a buildup of speculative pressures and the large U.S. current account deficit, there is a real possibility that Paulson's crisis-management skills will be tested.
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In the history of the world, no one has ever washed a rented car.
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It certainly was difficult to sell NAFTA because it's always difficult to sell open markets.
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You can't have a situation in which companies proceed on a permanent basis relying only on cash from the government.
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In politics, as in poetry, it is sometimes true that it is darkest before dawn.
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Start with the idea that you can't repeal the laws of economics. Even if they are inconvenient.
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Most investors want to do today what they should have done yesterday.
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It's important to remember how fortunate we are as a country to have a currency and a bond market that is seen in every way as a source of strength and it's a huge responsibility for us to keep it that way.
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Spread the truth-the laws of economics are like the laws of engineering. One set of laws works everywhere.
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It used to be said that when the U.S. sneezed, the world caught a cold. The opposite is equally true today.
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The only antidote to dangerous ideas is strong alternatives vigorously advocated.
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Global capital markets pose the same kinds of problems that jet planes do. They are faster, more comfortable, and they get you where you are going better. But the crashes are much more spectacular.
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It used to be said that when the U.S. sneezed, the world caught a cold. The opposite is equally true today. Our prosperity is linked inextricably to the maintenance of a strong world economy, an open international trading system, and stable global financial markets.
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There are children who are working in textile businesses in Asia who would be prostitutes on the streets if they did not have those jobs
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All taxes discourage something. Why not discourage bad things like pollution rather than good things like working?
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I have always thought that underpopulated countries in Africa are vastly underpolluted.
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I promise you that there are a lot of people involved in various kinds of retail activities who think they have a crucial role in the economy, and they're right.
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Investment in girls' education may well be the highest-return investment available in the developing world.
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I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to it.
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Deflation and secular stagnation are the risks of our time.
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The dramatic modernization of the Asian economies ranks alongside the Renaissance and the Industrial Revolution as one of the most important developments in economic history.
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The major challenge for the United States is whether it can become the first outward-looking, continental, nonimperialist power in history.
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It was wrong to allow Stalin to shape the European landscape of the 20th century. It would be even more wrong to let him shape the landscape of the 21st century
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As long as we keep our fundamentals strong...the dollar (and) U.S. borrowing costs will do just fine.
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Lawrence Summers
- Born: November 30, 1954
- Occupation: Former Undersecretary for International Affairs