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"The dramatic modernization of the Asian economies ranks alongside the Renaissance and the Industrial Revolution as one of the most important developments in economic history."
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"They were obviously headstones of graves, though the graves themselves no longer existed as either mounds or depressions; the years had leveled all. Scattered here and there, more massive blocks showed where some pompous or ambitious monument had once flung its feeble defiance at oblivion."
"There was something melancholic about that symbol of their nation's promise of freedom, a bell with a chipped mouth and cleft body."
"That men do not learn very much from the lessons of history is the most important of all the lessons of history."
"Those who stand for different causes during different generations often experience the same oppositions and the same difficulties as those of the previous and the next generations. That is the basis of history repeating itself."
Explore more quotes by Larry Summers
"You can't have a situation in which companies proceed on a permanent basis relying only on cash from the government."
"We are inheriting the worst financial system since the Depression. We're inheriting a situation - when people go back and study major banking crises a quarter century from now, the one that America developed in 2007 and 2008 is going to be one of those crises."
"The United States basically accepted protection abroad as the price of post-war recovery. Now, that these countries have caught up to our level of prosperity, it is time for them to catch up to our level of openness."
"Blaming speculators as a response to financial crisis goes back at least to the Greeks. It's almost always the wrong response."
"It was wrong to allow Stalin to shape the European landscape of the 20th century. It would be even more wrong to let him shape the landscape of the 21st century."
"Now is the time for us to strike. We must strengthen our foothold in Asia, to ensure no nation overtakes us."
"Global capital markets pose the same kinds of problems that jet planes do. They are faster, more comfortable, and they get you where you are going better. But the crashes are much more spectacular."
"It says something about this new global economy that USA Today now reports every morning on the day's events in Asian markets."
"Start with the idea that you can't repeal the laws of economics. Even if they are inconvenient."
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