“The things you hear now about European unemployment -- that there are structural problems, that real wages have failed to adjust, that there are inflationary fears -- are the same things that were said during the early 1930. It is well established that government spending began to pull Germany out of its slump in 1935. There is no known reason why spending for peace can't do as well at getting the economy going as spending for war.”

Lawrence Summers in: David Warsh (April 27, 1986) "It Did Happen Here, Too", Boston Globe, p. A1.
1980s

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Lawrence H. Summers12

Former US Secretary of the Treasury 1954

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