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Articles by other Thought Leaders

Lawrence Summers: How to Pull the World Economy Out of Its Rut

May 28, 2016

(Bloomberg) These are weird times. Growth is weak. Interest rates are negative. Is there a way out?

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Summers’s deeper argument is that world growth is stuck in a rut because there’s a chronic shortage of demand for goods and services and a concomitant excess of desired savings. The U.S. and other industrialized nations tend to save more as their populations age, he says. Meanwhile, growing inequality puts a bigger share of the world’s income in the pockets of rich people; they can’t spend everything they make, so they save it. The investment that would ordinarily soak up those savings is falling short. That’s partly because the new economy is asset-lite: Companies such as Uber and Airbnb prosper by exploiting assets (cars and houses) that already exist. Software, which is pure information and doesn’t require the construction of factories, accounts for a bigger share of the economy. Slow growth in output and productivity reduces investment as executives lose faith in the payoff from capital spending.

George Soros' Interview at World Economic Forum

May 14, 2016

(Bloomberg) Billionaire investor George Soros discusses the state of the European Union, China's economic slowdown, Fed monetary policy and the 2016 U.S. presidential election with Bloomberg's Francine Lacqua at the World Economic Forum in Davos.

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