Former Treasury Secretary Lawrence Summers predicted that policy makers in developed nations around the world will study the legacy of Abenomics, a framework he described as an aggressive attempt to address the challenges of economic stagnation.
Summers said that the assassination of former Prime Minister Shinzo Abe, the author of the Abenomics program, was a tragedy not just for his family and Japan, but the U.S.-Japan relationship and for the world, as another manifestation of “swirling anger” in today’s political sphere.
As for the signature economic framework that Abe put in place during his 2012-20 premiership, Summers told Bloomberg Television’s “Wall Street Week” with David Westin, “It will be remembered as one of the more aggressive and successful reprogrammings of macroeconomic strategy that we’ve seen in a long time.”
