Nouriel Roubini Economist

摘要

Who's to blame for the economic mess we're in? Or is it all the fault of impersonal forces? The underlying economic forces are partially independent of policy choices. I don't think that if [John] McCain had been elected, the economy would be any better than it is today. Maybe even worse. And therefore, I think that once you have a crisis, once you have too much debt or once you have painful deleverag-ing, that cost of deleveraging has to occur over a period of many years, and economic policy is not going to make much of a difference. However, policymakers do make a difference, because the Great Recession could have ended up a great depression if we had not learned the lessons of the Great Depression.