Lawrence Summers Quotes


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.


Citations

Summers, Lawrence H. "Remarks by Treasury Deputy Secretary Lawrence H. Summers." U.S. Department of the Treasury, 1999.

Related Quotes

The relationship of population increase economic growth is a critical one. If an underdeveloped country manages to have a 3% annual economic growth rate and also has a 3.2% population growth, at the end of the year, the average person is actually poorer than he was the previous year. South Korea, China, Thailand and India implemented successful population control and family planning programs before they were able to take advantage of economic development. To modernize, the country must be able to have a surplus of funds which can be invested in roads, schools, hospitals, and other facilities which can produce even more growth later. Too many new mouths to feed, clothe and care for can be a barrier to development even if the economy is reasonably good.


Lawrence Summers
Lawrence Summers
  • Born: November 30, 1954
  • Nationality: American
  • Profession: Economist

Lawrence Henry Summers is an American economist, former Vice President of Development Economics and Chief Economist of the World Bank (1991–93), senior U.S. Treasury Department official throughout President Clinton's administration (ultimately Treasury Secretary, 1999–2001), and former director of the National Economic Council for President Obama (2009–2010). He is a former president of Harvard University (2001–2006), where he is currently (as of March 2017) a professor and director of the Mossavar-Rahmani Center for Business and Government at Harvard's Kennedy School of Government.