Paul Lachine

أزمة الخيال المالي

كمبريدج ـ البنوك الجشعة، والأفكار الاقتصادية الرديئة، والساسة غير الأكفاء: يبدو أن العالم لا يفتقر إلى الجناة الذين تسببوا في اندلاع الأزمة الاقتصادية التي اجتاحت البلدان الغنية. ولكن الأمر لا يخلو أيضاً من أمر أكثر جوهرية، إنه عيب كامن في أعماق أبعد كثيراً من مسؤولية صناع القرار السياسي كأفراد. إن الأنظمة الديمقراطية تتسم بالافتقار الشديد إلى الكفاءة في إتمام الصفقات ذات المصداقية التي تتطلب التزامات سياسية في الأمد المتوسط. ففي كل من الولايات المتحدة وأوروبا، أدت التكاليف المترتبة على هذا القيد المفروض على السياسة إلى تضخيم الأزمة ـ وحجب طريق الخروج من الأزمة.

ولنتأمل هنا حالة الولايات المتحدة، حيث يناقش الساسة كيفية منع الركود المزدوج، وإعادة تنشيط الاقتصاد، وخفض معدل البطالة الذي يبدو عالقاً عند مستوى أعلى من 9%. ويتفق الجميع على أن الدين الوطني العام أعلى كثيراً مما ينبغي وعلى ضرورة خفضه في الأمد البعيد.

وعلى الرغم من عدم وجود حلول سريعة لهذه المشكلة، فإن حتمية السياسة المالية واضحة. فاقتصاد الولايات المتحدة يحتاج إلى جولة ثانية من الحوافز المالية في الأمد القريب من أجل التعويض عن انخفاض مستويات الطلب الخاص، إلى جانب برنامج معقول لتحقيق الانضباط المالي في الأمد البعيد.

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