Новая макроэкономическая стратегия

НЬЮ-ЙОРК – Я - макроэкономист, но не принадлежу ни к одной из двух главных групп, на которые разделились мои коллеги в США: неокейнсианцев, увлеченных стимулированием совокупного спроса, и сторонников теории экономики предложения, которые выступают за сокращение налогов. Обе школы пытались, но не смогли  улучшить низкие экономические показатели, которые демонстрируют в последние годы страны с высоким подушевым доходом. Пришло время для новой стратегии, базирующейся на устойчивом, инвестиционном росте.

Главная трудность макроэкономики – распределить ресурсы общества для их наилучшего использования. Те, кто хочет работать, должны находить работу; фабрики и заводы должны эффективно использовать свой капитал; наконец, та часть доходов, которая не потребляется, а сберегается, должна быть инвестирована в рост будущего благосостояния.

Именно решение последней, третей задачи вызывает наибольшие трудности и у неокейнсианцев, и у сторонников теории предложения (supply-siders). Большинство стран с высоким уровнем доходов – США, Япония, большая часть Европы – оказались не способны инвестировать в будущее адекватно и с умом. Мир не справился с задачей вложения накоплений, хотя они могли быть инвестированы как внутри отдельных стран, так и за границей.

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