Whenever I see something from Nouriel Roubini, I check it out for several reasons; he's rather brilliant, he's a professor of economics at the Stern Business School at New York University and chairman of Roubini Global Economics, and his background is extremely impressive.
But, perhaps most of all, his ability to foresee the likely outcome of all things economic has been uncanny for at least the last couple of years. Given that he was warning of the economic circumstances we find ourselves in today several years ago, it's no wonder he has earned the nick-name "Dr. Doom", and rightly so.
Having said that, I don't agree with all of what he says regarding his prescription to fix our economic problems because I gather he's of the Keynesian School of Economics but if not, then perhaps he's simply speaking from a perspective that our government will be able to understand. In other words, I believe the Keynesian philosophy of economics is flawed but it's the current economic philosophy our government embraces*. And Roubini speaks in terms they understand.
At any rate, Roubini is refreshing because he tells it like he sees it and he doesn't seem to care if anyone's offended. Here is a recent article from Roubini that shows he doesn't have favorites and, perhaps what I find most encouraging is, he puts much of the responsibility for the present dilemma squarely where it belongs. Advocating that those who are responsible take responsibility is certainly not politically correct these days but I never said Roubini cared about such silliness.
Check out some of his other articles here.* Note that Keynes's idea's became less influential in the 1970s, after attacks from Milton Friedman and other economists who were less optimistic than Keynes about the potential for interventionist government policy to complement the free market. But in 2008, high level policy makers in the world's modern economies have shown a renewed interest in implementing economic solutions in accordance with the recommendations of Keynesian economics - such as the fiscal stimulus and far-reaching government intervention behind the plans of President Barack Obama and other global leaders to rescue the economy.
Editor's note: So we would solve our current economic crisis that has been caused by excessive borrowing and spending by more borrowing and spending??? If they are wrong, all of this printing of money and spending will end very, very badly.
Murray Rothbard considered Keynes an intellectual lightweight, fixated on simple short-term solutions to complex long-term problems, obsessed with his own ego and influence, and one of the most destructive statist intellectuals of the 20th century.
For a better treatment on John Maynard Keynes, see this link.
