The recent work by Rajan, Stiglitz, Kumhof and Ranciere, and others explains the apparent paradox: those at the very top financed the demand of everyone else, which enabled both high employment levels and large current-account deficits. When the crash came in 2008, massive fiscal and monetary expansion prevented US consumption from collapsing.
拉贾、斯蒂格利茨、昆霍夫和兰塞勒以及其他人最新的成果解释了这一显而易见的悖论：最顶层群体为其他人的需求提供融资，这便是高就业水平和巨额经常项目赤字得以并存的原因。当2008年危机爆发时，大规模财政和货币扩张防止了美国消费出现崩溃。但这真的解决了基本问题吗？