Una cura per l’Economia

NEW YORK – Visto che ancora persiste la depressione economica cominciata nel 2007, la domanda che tutti si pongono è ovvia: Perché? Senza una migliore comprensione delle cause della crisi, non possiamo mettere in atto una strategia di ripresa efficace. E finora non abbiamo né l’una né l’altra.

Ci era stato detto che questa era una crisi finanziaria, così i governi delle due sponde dell’Atlantico si sono concentrati sulle banche. Le politiche di incentivazione venivano spacciate come un palliativo temporaneo, necessario a compensare il gap fino a quando il settore finanziario non si fosse ripreso ed il credito privato non fosse ricominciato. Ma, mentre redditività e bonus bancari si sono ristabiliti, il credito non è in ripresa, nonostante tassi di interesse a lungo e breve termine incredibilmente bassi.

Le banche si lamentano che il credito resta limitato dall’inaffidabilità di chi dovrebbe prendere a prestito, dovuta all’economia malata. E i dati di settore indicano che almeno in parte hanno ragione. Del resto, le grandi società sono adagiate su enormi quantità di dollari in contanti, dunque non è il denaro liquido che impedisce loro di impegnarsi in nuovi investimenti e nuovi posti di lavoro. Alcune piccole imprese, forse molte di loro, sono tuttavia in una posizione molto diversa; a corto di fondi, non possono espandersi, e molte sono costrette a contrarsi.

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