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Summers On Economy: 'Bullish,' Predicts Growth

This article is more than 12 years old.

"Bullish." That's how Lawrence Summers, President Obama's former top economic adviser, describes his outlook on the economy. Summers is predicting growth — as long as the housing market stabilizes — in the years ahead.

"The American economy has a feeling of normal as I talk to you today that was completely absent two years ago in March of 2009, and that is a very substantial achievement," Summers said.

Summers delivered his forecast before business leaders at the Greater Boston Chamber of Commerce Monday.

The forum ended on a light note, as a questioner asked Summers about his portrayal in the movie "The Social Network."

Summers was Harvard University's president when then-student Mark Zuckerberg created Facebook.

At the time, two other students — the Winklevoss twins — met with Summers to complain that Zuckerberg had stolen their idea. In the movie, Larry Summers' character dismisses their claim.

The real Summers said Monday that the movie's depiction of that meeting was largely "accurate."

"I am told that the Winklevii say that the movie is wrong — ‘Larry Summers wasn’t nearly as nice to us as was portrayed of him in the movie,’" he said. "I've read somewhere on occasion that people think I can be arrogant. And I can’t imagine why. And if that is so, I probably was on that occasion."

That was 2004. Seven years later — including two years in the Obama administration — Lawrence Summers is now back at Harvard, teaching courses on economics.

Summers delivered his economic forecast Monday to the Greater Boston Chamber of Commerce. WBUR will air Summers' address in its entirety on Sunday at 8 p.m.

This program aired on March 8, 2011. The audio for this program is not available.


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