财政刺激妖魔

纽约——不难理解,在经历了2008—2009年的经济灾难后,人们担心还会再来一场金融危机。但这种可能性相当小,而且其不良影响也会小得多,因为市面上已经没有大规模的信贷和资产泡沫可以破裂的了。

但这并不妨碍学者和媒体继续夸大恐慌,将人们的注意力从如何克服发达世界长期徘徊不前这个问题上移开,而这个问题将不可避免地拖累世界其他地区,特别是发展中国家的经济复苏。

当前最被妖魔化的是公共债务。其中占大头的是大西洋两岸和日本水涨船高的主权债务。经济评论家马丁·沃尔夫(Martin Wolf)指出:“财政挑战是长期性的,不是一夜之间就能解决的。”同样,尽管日本的债务-GDP比率为整个发达国家之最,但这并不是什么大问题,因为这些债务都是内债。而欧洲债务问题被广泛认为是由对欧洲一体化程度的错误估计造成的。

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