Skip to about the 3 minute mark to begin watching a rather remarkable speech about finance and the global economy by former Treasury Secretary/former Fed Chair nominee Larry Summers who begins by noting that “Finance is too important to be left to financiers”.
At about the 7 minute mark, the term “secular stagnation” is introduced and it quickly becomes very interesting from there. If not for a very busy day ahead, there would be more on offer about this today, but there are some good links:
- When Models Trump Common Sense – timiacono.com
- How saving endangers the economy — and what to do about it – The Week
- Larry Summers just confirmed that he is still a heavyweight on economic policy – Quartz
- Larry Summers and the never-ending bubble economy – CNBC
- Secular Stagnation, Coalmines, Bubbles, and Larry Summers – Krugman
- A Permanent Slump? – Krugman