Economics/Class Relations

Larry Summers On Inflation And Mistakes

Andrew Sullivan, Weekly Dish

The famed economist and longtime insider is now the outsider. Biden should have listened to him.

He’s in the news again this week — after persuading Joe Manchin that the climate and healthcare bill he’s pushing isn’t inflationary. Larry Summers has had a storied career, as the chief economist of the World Bank, the treasury secretary under Clinton, and the director of the National Economic Council under Obama. He also was the president of Harvard University from 2001 to 2006 and remains there as the Charles W. Eliot University Professor.

You can listen to the episode right away in the audio player above (or on the right side of the player, click “Listen On” to add the Dishcast feed to your favorite podcast app). For two clips of our convo — on how the US government spent way too little during the Great Recession and way too much during the pandemic, and how we can help the working class cope — pop over to our YouTube page.

The episode has a lot of thematic overlap with our recent discussion with David Goodhart, author of Head, Hand, Heart: Why Intelligence Is Over-Rewarded, Manual Workers Matter, and Caregivers Deserve More Respect. Here’s a new transcript. And below is a clip from that episode on how our economy overvalues white-collar brain power:

Back to inflation talk, here’s a dissent:

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