The essence of understanding capitalism is to recognize that the interest is not in the survival of particular capitalists, but of the system of capitalism. The most sclerotic economies are those where there never are any shakeouts; there never is any competitive pressure where failure is not a possibility. While shakeouts are painful, they set the stage for redeployment of resources for more productive uses in the future. - Lawrence Summers Quotes
The essence of understanding capitalism is to recognize that the interest is not in the survival of particular capitalists, but of the system of capitalism. The most sclerotic economies are those where there never are any shakeouts; there never is any competitive pressure where failure is not a possibility. While shakeouts are painful, they set the stage for redeployment of resources for more productive uses in the future. Lawrence Summers
 Capitalism

More - Lawrence Summers Quotes

In Europe, the stronger growth and reductions in unemployment are now arriving, ... But for better performance to endure, Europe will require substantial structural reforms. - Lawrence Summers Quotes

In Europe, the stronger growth and reductions in unemployment are now arriving, ... But for better performance to endure, Europe will require substantial structural reforms.

Lawrence Summers

 Growth
It should not be a source of low-cost financing for countries with ready access to private capital, or long-term welfare for countries that cannot break the habit of bad policies, - Lawrence Summers Quotes

It should not be a source of low-cost financing for countries with ready access to private capital, or long-term welfare for countries that cannot break the habit of bad policies,

Lawrence Summers

 
The two-way flow of traffic between India and Harvard is going to be much bigger in the next 5-10 years. - Lawrence Summers Quotes

The two-way flow of traffic between India and Harvard is going to be much bigger in the next 5-10 years.

Lawrence Summers

 
The president has made it very clear that he will not sign any budget measure that doesn't put Social Security and Medicare first, that doesn't take those steps forward (and) certainly any measures that would put at risk the progress we've made in paying down the debt, - Lawrence Summers Quotes

The president has made it very clear that he will not sign any budget measure that doesn't put Social Security and Medicare first, that doesn't take those steps forward (and) certainly any measures that would put at risk the progress we've made in paying down the debt,

Lawrence Summers

 
I think the G7 statement speaks for itself and I don't want to add to what it says, ... I don't want to go beyond the language in the communiqué. - Lawrence Summers Quotes

I think the G7 statement speaks for itself and I don't want to add to what it says, ... I don't want to go beyond the language in the communiqué.

Lawrence Summers

 
As long as we keep our fundamentals strong...the dollar (and) U.S. borrowing costs will do just fine. - Lawrence Summers Quotes

As long as we keep our fundamentals strong...the dollar (and) U.S. borrowing costs will do just fine.

Lawrence Summers

 Borrowing
sharp rise in the price of oil is an important concern for consumers and businesses around the world, and has the potential to hit developing countries particularly hard. - Lawrence Summers Quotes

sharp rise in the price of oil is an important concern for consumers and businesses around the world, and has the potential to hit developing countries particularly hard.

Lawrence Summers

 
Today, the IRS operates in a low-trust, short-tether budgeting environment, ... This makes rational planning for capital projects such as information technology very difficult. - Lawrence Summers Quotes

Today, the IRS operates in a low-trust, short-tether budgeting environment, ... This makes rational planning for capital projects such as information technology very difficult.

Lawrence Summers

 Environment
We've seen some indications that there may be some hoarding behavior, but there are many, many factors that influence oil prices, both with respect to the short run and over the medium term, ... But there's no question that -- as in any freely trading market -- there's a psychological element that enters in from time to time. - Lawrence Summers Quotes

We've seen some indications that there may be some hoarding behavior, but there are many, many factors that influence oil prices, both with respect to the short run and over the medium term, ... But there's no question that -- as in any freely trading market -- there's a psychological element that enters in from time to time.

Lawrence Summers

 Behavior
Our policy on the dollar is unchanged, - Lawrence Summers Quotes

Our policy on the dollar is unchanged,

Lawrence Summers

 
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