Nouriel Roubini: “Unregulated capitalism can lead to regular bouts of over-capacity,under-consumption, and the recurrence of destructive financial crises, fueled by credit bubbles and asset-price booms and busts…
Any economic model that doesn’t properly address inequality will eventually face a crisis of legitimacy, as today’s global protests are now demonstrating. Unless the relative economic roles of the market and the state are rebalanced, the protests of 2011 will become more severe, eventually harming long-term economic growth and welfare.” (Read the full Roubini‘s column “The Instability of Inequality“)
Roubini electrified the financial community by predicting the 2007-8 crisis before others saw it coming. His recent book Crisis Economics: A Crash Course in the Future of Finance is a myth-shattering work in which, blending historical analysis with masterful knowledge of global economy, he reveals the methods he used to foretell the current crisis and shows how they can help make sense of the present.
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