Tariff uncertainty induces people to delay purchasing decisions (automobiles, washing machines, factory construction) hoping the uncertainty will be resolved, creating additional economic damage beyond direct tariff effects
causalpending
Speaker
Lawrence SummersEvidence Quote
“when there's uncertainty people delay hoping that the uncertainty will be resolved. Why should I buy a washing machine till this is all clearer?”
Source
Tariffs, Decline, and the Promise of AI | A Conversation with Larry Summers and Niall Ferguson— University of Austin (UATX)Created: 8/11/2026, 6:36:04 AM
My Notes
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