They To At Present Have Done Quite Well

Therefore we cannot anticipate that the Federal Reserve manages all matters. Nobody may do this. However on the other hand, they to at present have done quite well. Our overall system present is being at one kind to lose the foreword condition. However this is also decided in you had thought what kind of life -You have wanted one kind of static state, all neat unanimous life, had thought that kind will have the exploration spirit, will fill with the experiment spirit the change life. Therefore from the solution present question’s angle, we need to set up the entire Private sector again, the certainly Public sector also needs to make many adjustments. The commercial character department extremely was shortsighted. Especially recent several years.

Regarding The Economical Vigor

They pay attention to each quarter the profit, but all investment institution only pays attention to each quarter the profit, request companies each quarter achieves these achievement digit. This definitely is the brains is a little unclear. At present, the financial department no longer was already a department which serves for the Commercial sector. This is needs to change. Washington’s legislator know nothing about to the modern economical economic, regarding the economical vigor, the innovation as well as more tolerances, they knows nothing about. In this case, how do they solve in the current system’s instability The former US’s Public sector is not a question, because they were too young. But the present US’s Public sector also already had the very big influence, therefore Public sector’s change is also quite important. For me, the US is without a doubt in not a perfect system a best country.

Could Not Appraise Them To Buy The

I a little am actually surprised, these bank cannot do for oneself fulfills duty the investigation, could not appraise them to buy the property the risk. This is quite shocks. AIG is one example which makes the human to be very difficult to believe that even they know nothing about to the system risk. The economic cycle is unable to avoid “The 21st century”: Has the means to conceive a relatively perfect system, while encourages which innovates, will not let the human be too greedy Phelps: Actually the system is very difficult to understand. We very difficult to conceive one kind to let the human give up, going to the system selfishly diligently for some central benefit, this will often bring not the happy result. In the history has the massive Utopia-like tentative plan, but all was defeated. I thought that (prevents excessive financial innovation) is to the capitalism a little too negative understanding. Regarding the human who contains majority in the economy, capitalism until now has not been surmounted, because capitalism brought the enough job opportunity, the legend-style income, the productivity to grow, the product and the goods diversification.

But Does Not Dare To Experience Some Matters

Simultaneously this system also drove that many people solve the problem diligently. “The 21st century”: If not does this, that will have the periodic consequence The froth, the excessive froth, the decline, then the recovery, then is also the froth and the excessive froth Phelps: This is the very headachy matter truly. But you will not say to a young musician, should not be a composer, because you will deliver the fluctuation to be able to be big. Sometimes you may write many first songs, sometimes you meet half capital not to be able to write.
You will definitely not use this reason to tell others the risk. Therefore you cannot because of fear defeat, but does not dare to experience some matters. The economic cycle is also same, is actually unable to avoid. Federal Reserve inextricability system question “The 21st century”: If that you are Federal Reserve president, how you will do now How to solve present’s problem Phelps: How do you let the Federal Reserve solve present’s problem They are even unable to establish a good financial supervision system, actually lets them solve systematic problem, but also lets them plan the entire economy, they also will supervise later the entire economy the movement.

Has The Matter To Present Also Only

This is the very crazy matter. In the modern economic, still has many very mystical things to be very difficult to the present to understand. Now on the media was discussing why the economist hasn’t forecast the crisis. That is because only then a young part of economist is the financial scientist, what also only then a young part of economist is engaged in is the economic projection. Even if is the financial scientist, has the matter to present also only then to smatter. Throws the line regarding these and to flushes the matter which the fund does.
They basically do not know. Has many hideaway knowledge only then some people to know.

How Did He Also Go Out

I most pay attention immediately, is ‘ the vigor society ‘ -Has the economy which the enough ability and the compatibility innovate. In the American New York Columbia University, once attained in 2006 Nobel economic prize Edmund Phelps (Edmund Phelps) professor to tell the newspaper reporter. But in ocean other shore’s Chinese Dalian, the world economics forum 2009 commanding troops annual meetings (the summer Davos) soon convenes newly, this conference’s subject was rallies the growth -Phelps to propose the vigor society the model to open road and the wisdom gate of exactly the theory for this subject. Guo Degang the right and wrong mutual hatred history is very much big the bottom (group chart) The medical department pays attention to the baby early puberty The asset management company collaborates the place to make PE The petroleum 600,000,000,000 projects seek the privately operated partner Beijing sum total subsidy Public hospital loss The grain price soars partial or the present grain rushes to purchase Associates over 1,000,000,000 buys stock the divine land to rent a car micro abundant the minority rich person grain bin room does not have the influence to the poor person has many characteristics to be possible to bring describes such economy -In such economy, the work can have the enough feeling of satisfaction, lets everybody has solves the question power; Many opportunities discovered that as well as to human knowledge further development; This is the system which an everybody is very willing to participation; But will also create the very big uncertainty. Because the research achievement which obtains in the macro economic cross time decision-making balance domain wins Jiang he, has not given up throughout to immediately the reality economic world attention and based on this construction the explanation model.
In the interview, how did he also go out the decline to immediately the American economy to give his suggestion, the Private sector must activate, such long-term deficit only then possibly solved; But the Public sector must carry on the reform, Washington’s legislator know nothing about to the modern economic, regarding the economical vigor, the innovation as well as more tolerances knows nothing about. In this case, how do they solve in the current system’s instability But he firmly believed that in the future the US will return to 2.0% about in the rates of increment, will return to the innovation to lead the growth the way to come up.

Is Prevents The American

Most important, is prevents the American economy to be too many because of the aleatory operation has the large vibration. the vigor society will stimulate economic growth “The 21st century”: What recently you were the main research direction Phelps: My recent research direction is the modern economy (Modern Economies). I called that it the modern economy, is not actually refers to the immediately economy (RECENT ECONOMY), but refers to one kind to have the creativity economy -Entire economic is fills with the innovative spirit, certainly this kind of innovative spirit will also bring the massive uncertainty. I attempt to want to develop a glossary to describe a name which such economy -I find out at present am the vigor society. Such economy has the enough ability and the compatibility innovates. Has many characteristics to be possible to bring describes such economy -In such economy, the work can have the enough feeling of satisfaction, lets everybody has solves the question power; Many opportunities discovered that as well as to human knowledge further development; This is the system which an everybody is very willing to participation; But will also create the very big uncertainty. Recently, we placed the economy had the out of control condition. Therefore this is a vital question which in the modern economy faces, how to carry on the enough good supervision, simultaneously may not lose the vigor enough How can solve in the contemporary economy not the stability, then at the same time may maintain social the vigor “The 21st century”: To Wall Street, how is to prevent to supervise excessively strangles the financial innovation.

About Past One Year

How formulates a standard between the excessive financial innovation and the moderate financial innovation to come out. Phelps: Is Wall Street’s innovation beneficial regarding the entire society, a very big question, about past one year, we faced with a very major problem, how is the redesign whole set financial system, at least adjusts a financial system’s part, satisfied the commercial character investment the demand. Specially more importantly, invests these to have the innovative commercial project.
We depend on the commercial character project to create at present to the social useful innovation (, but is not depending on Wall Street financial organ). “The 21st century”: But the present Wall Street changes more and more depending on the transaction makes money, makes money mutually from opposite party body. You thought that regarding the society, such financial organ has effectiveness Phelps: If examines the financial instruments which and transaction carefully they use, has some should have the social utility. But I believed that these finance activities need to investigate, needs to appraise its social utility. Which do we need to discover to trade the activity or the transaction system to the society are actually harmful.

Must Wait Till At Least

9%. Perhaps although the GDP quarter link compared to the demonstration, will have the so-called V shape reverse to appear. Morgan Stanley chief European economist ElgaBartsch indicated that be not deceived by the rate of increment V shape reverse, must wait till at least in 2013, GDP can restore before the decline the standard.

The New Supervision Frame Must Guard Against Effectively

The Austria Pama Government announces the financial supervision reform bill, has opened the US after 1930 the biggest scale financial reform, lasted near one year test of strength, on May 20, the American Senate by 59 tickets approves of 39 dissenting votes through the financial supervision reform bill. Then, the United States Congress leaders will appoint Senate and House of Representatives’s representative separately, composes one about 12 person of about two courtyard joint attendance committee, is responsible for bill merge which passes two courtyards, submits Austria Pama president to sign into the law. This article in view of the reform bill which soon promotes gives the preliminary explanation. Guo Degang the right and wrong mutual hatred history is very much big the bottom (group chart) The medical department pays attention to the baby early puberty The asset management company collaborates the place to make PE The petroleum 600,000,000,000 projects seek the privately operated partner Beijing sum total subsidy Public hospital loss The Federal Reserve discusses the rest difficult word withdrawal on Tuesday Associates over 1,000,000,000 buys stock the divine land to rent a car micro abundant the minority rich person grain bin room does not have the influence to the poor person The finance supervises the new frame Submits the American Senate’s financial supervision reform bill is 1558 pages, although the actual content is rich, but the goal is clear: First, the new supervision frame must guard against effectively so-called big and not but actually the super financial organ bankruptcy initiates systematic risk; Next, this frame consumer protection benefit, guarantees the full information disclosure emphatically.