The central irony of financial crisis is that while it is caused by too much confidence, too much borrowing and lending and too much spending, it can only be resolved with more confidence, more borrowing and lending, and more spending. Most policy failures in the US stem from a failure to appreciate this truism and therefore to take steps that would have been productive pre-crisis but are counterproductive now with the economy severely constrained by lack of confidence and demand.
金融危機(jī)最具諷刺意味之處在于:盡管危機(jī)是由過(guò)度的自信、借貸和支出造成的,但要解決危機(jī),卻只能是通過(guò)更多的自信、借貸和支出。美國(guó)的大多數(shù)政策失誤,都源自于未能認(rèn)識(shí)到這一至理,因而采取了在危機(jī)前本會(huì)有效、但目前卻事與愿違的舉措,信心匱乏和需求不足對(duì)經(jīng)濟(jì)構(gòu)成了嚴(yán)重制約。