Five years after the financial collapse, unemployment remains very high in much of the western world. Essentially every major country, with the partial exception of Japan, has tended to leave recovery to private markets and eschewed major fiscal policy initiatives. But increasingly analysts are asking whether this faith in private markets is justified.
Larry Summers has argued that we are experiencing "secular stagnation." In this conversation at the Institute's "Human After All" conference with Canadian M.P. and best-selling author Chrystia Freeland, the former U.S. Treasury Secretary and Director of the National Economic Council discusses his ideas on how to restore higher levels of growth and prosperity around the world.