This week on Gridlock Break, join us as we welcome three leaders in their respective fields to discuss the impact of the COVID-19 epidemic.
Lawrence Summers is an economist who 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. He discusses current economic trends, which he contends are not spontaneous, but have instead simply been accelerated by the current COVID-19 pandemic. The economic problem of the current era is excessive savings that have a difficulty being absorbed except in inflated prices. As we move forward, individual and corporate economic approaches will likely shift from an emphasis on efficiency to an emphasis on resilience.
Governor Janet Napolitano served as governor of Arizona from 2003 to 2009, and then as Secretary of Homeland Security from 2009 to 2013 in the Obama Administration. Since 2013, she has served as president of the University of California system, the first woman to hold that role. She discusses the various responses to the current health crisis from her unique perspectives working in federal and state government, as well as in a university system. She argues that going forward, the most vital aspect is determining clear lines of authority and responsibility.
Governor John Kasich served as governor of Ohio from 2011 to 2019 after having served nine terms in the House of Representatives. He ran for the Republican nomination for president in both 2000 and 2016. Since he left office, he has joined CNN as a contributor. He discusses the bipartisan work he is doing throughout the COVID-19 pandemic. He notes that this is an opportunity to look at the fragile nature of our most complex systems - health, transportation, commerce, etc. He also adds that debt is one of three crises that we will face, along with the climate and mental health.