Republicans, Democrats, and why, despite everything, I respect Larry Summers

The Financial Times Opinion page this morning is utterly brilliant.

If you want to know how I feel about both the Republicans and Democrats (and why wouldn’t you, as I am sooooooooooo important), Clive Crook nails it: America prefers fiscal idiocy to framing intelligent choices. Or, as my colleague Richard Green says, I don’t see anybody out there acting like a grown-up.


Larry Summers also has an absolutely brilliant submission in their “A-List” series called “How we can avoid stumbling into our lost decade.” If there is a more lucid, patient, and clear discussion of the current macroeconomic condition of the US, I have yet to see it. His advice, BTW, is to extend the stimulus.