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经济刺激为何失败?

新德里——两大基本信念驱动着全球各国近些年的经济政策。其一,相对于总供给,全球总需求短缺;其二,货币和财政刺激将填补此一缺口。

有没有可能是这样:前一条做出的诊断是对的,而后一条开出的药方错了?这似乎可以解释,为什么我们努力想让经济复苏到危机前的水平,但迄今为止进展不大。这也表明,我们需要反思药方是不是有问题。

非自愿失业水平在发达经济体普遍居高不下,说明需求落后于潜在供给。特别高的失业率固然集中在那些危机前的繁荣行业里,如美国的建筑业,但高失业率依然是更多行业的普遍现象,这也支持了必须以扩大需求重振就业的观点。

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