Contagion has become very much a phenomenon, and it’s a phenomenon of globalization.
Meaning of the quote
The quote is saying that diseases and problems can now spread very quickly around the world because of how connected and global we have become. Just like a cold can spread from one person to many others, problems and issues can now spread from one country to many others due to how much we travel and communicate globally. This makes dealing with these issues more difficult, as they are no longer limited to one area.
About Lawrence Summers
Lawrence Summers is an American economist who has held several high-profile positions, including serving as the U.S. Secretary of the Treasury and president of Harvard University. He has played a significant role in economic policymaking and has been involved in notable events like the 1994 Mexican financial crisis and the deregulation of the U.S. financial system.
More quotes from Lawrence Summers
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There are children who are working in textile businesses in Asia who would be prostitutes on the streets if they did not have those jobs.
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It certainly was difficult to sell NAFTA because it’s always difficult to sell open markets.
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