2008/10/15

Regeringen skal afholde sig fra kriseregulering

Den lære man kan drage af tidligere kriser er at en regeringerns intervention forlænger krisen. Forskning af to økonomer fra UCLA påviste tilbage i 2004, hvordan FDRs New Deal var med til at forlænge depressionen med 7 år. Istedet for at stoppe i 1936 formåede FDR regeringen at forlænge krisen til 1943:
The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes. Ironically, our work shows that the recovery would have been very rapid had the government not intervened.