Thursday, April 23, 2015
Roubini on Pseudo-Economists & Market Hacks
Writing in Project Syndicate, NYU professor Nouriel Roubini says that the doomsayers and worry warts of these policies are merely "pseudo economists and market hacks" that have "barely any knowledge of basic economics."
"This assortment of 'Austrian' economists, radical monetarists, gold bugs, and Bitcoin fanatics has repeatedly warned that such a massive increase in global liquidity would lead to hyperinflation, the US dollar’s collapse, sky-high gold prices, and the eventual demise of fiat currencies at the hands of digital krypto-currency counterparts," Roubini writes.
Yet these views have still shaped public debate on the matter, and so Roubini feels compelled to explain just what these folks got wrong.
Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics