Fiscal Policy in a Changing World

From Larry Summers:

I invite you to consider how the prodigious change associated with information technology that may be qualitatively different from past technological change may have defining implications for our economy going forward. If I have caused you to reflect on the fact that very substantial relative price changes are likely to be associated with dramatic changes in the structure of employment, the nature of economic activity, and the relative importance of the widget-producing firm in our economy, and to consider the implications this will have for the future of the subject with which I began my career in economics under Marty’s tutelage, public economics, then I will have served my purpose this afternoon.

HT (and thoughts from) John Cochrane.

About ozidar

I'm an Assistant Professor of Economics at the University of Chicago Booth School of Business and a Faculty Research Fellow at National Bureau of Economic Research. You can follow me on twitter @omzidar.
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