Summers discusses government's evolving role in economy

Lawrence Summers, director of the National Economic Council and one of the most influential economists within the Obama administration, discussed the government's intervention in the economy. "The government's direct actions to invest money in companies were once-a-generation or once-every-two-generation responses to a once-every-two-generation emergency," he said. "They were designed to be, and have proven to be, temporary. There is no aspiration of any kind to change the private-sector basis of our economy."

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