Lawrence Summers Discusses Economic Trends in the COVID-19 Era

Monday, July 6, 2020 - Lawrence Summers discusses the trends he sees in the economy and where we're heading during this recovery. He also points out how behavioral changes during the pandemic will change the economy.

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Lawrence Summers previously served as Chief Economist of the World Bank, Secretary of the Treasury in the Clinton Administration, and director of the National Economic Council in the Obama Administration.
Lawrence Summers previously served as Chief Economist of the World Bank, Secretary of the Treasury in the Clinton Administration, and director of the National Economic Council in the Obama Administration.

Lawrence Summers previously served as Chief Economist of the World Bank, Secretary of the Treasury in the Clinton Administration, and director of the National Economic Council in the Obama Administration. He also served as president of Harvard University, where he is now a professor. Today, he discusses economic trends in the COVID-19 era.

Lawrence Summers points out how so many economic trends have been accelerated by the COVID-19 pandemic. He sees our chief economic problem as excessive savings that have a difficulty being absorbed except at inflated prices. And he sees a major change ahead for the economy as both individuals and companies focus more on resilience of systems and supply chains, rather than just efficiency.

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