Summers: U.S. Could Repeat Mistakes of 1960s & 70s

The transcript discusses concerns about inflation and draws parallels between current economic conditions and those of the 1960s and 1970s. It highlights the risks of repeating past mistakes, such as increased social division and central bank involvement in social objectives. The discussion also touches on the debate over accepting higher inflation rates as a lesser evil, warning of potential future difficulties.

What are the potential dangers of accepting higher inflation according to the text?

What does the speaker suggest about the economists' views on inflation targets?