Lawrence Summers Quotes

No country can violate the laws of economic gravity too long.

I'm just saying that if you understand how the economic machine works, it just works like a machine. There are cause-effect relationships.

The media simply does not understand Econ 101.

The best way to deal with any economic problem is to let the market work it through.

Economics is all about consumption. People either spend money now or they use financial instruments - like bonds, stocks and savings accounts - so they can spend more later.

The study of economics does not seem to require any specialized gifts of an unusually high order.

95% of economics is common sense deliberately made complicated.

Basic Economics 101. It's the most complicated simple subject there is.

The foundations of a strong economy don't rest alone on the decisions of Chancellors or the spending programmes of government.

When you have a perfect free market, it's difficult to predict the future. But when you have a market that is disturbed by government manipulations and money-printing, it's impossible to make any predictions.

Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body - the producers and consumers themselves.

The economy is like a machine.

Market forces will one day crush the Federal Reserve. One day, the market forces will reverse.

Inflation is not always the main problem, or indeed a problem at all. Sometimes, though rarely, deflation is a more serious threat, and we need to shelve many of the orthodoxies we have held so dear.

Production is the only answer to inflation.

Economics is a subject profoundly conducive to cliche, resonant with boredom. On few topics is an American audience so practiced in turning off its ears and minds. And none can say that the response is ill advised.

Only a strong economy can create higher asset values and sustainably good returns for savers.

An economy is not a complicated thing; it just has a lot of moving parts.

With the shrinking of the US economy, and it's shrinking very rapidly, you not only have more money, but you also have fewer goods. That's a classic double-whammy on inflation.

The major driver of economics is the equilibrium approach, which has taken various forms over the years. General equilibrium is the statement that all the different parts of the economy influence each other, even if it's remote, like mortgage-backed securities and their demands on automobiles.

People confuse economists and economic policy.

A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.

Deflation is defined as a general decline in prices, with emphasis on the word 'general.'

The human world lives in a framework called global economics. We live in a system based on GDP, which drives consumption. it causes people to compete with each other through trade in a way that they all grow.

I wonder if economics has less basic core material than is necessary for fields such as mathematics, physics, or chemistry, say.