As the great boom that began in the 1990s gave way to an even greater bust, policymakers resorted to the timeworn tricks of financial engineering in an effort to recapture the magic. In doing so, they turned an unbalanced global economy into the Petri dish of the greatest experiment in the modern history of economic policy.
纽黑文—世界经济陷入了危险的错觉。20世纪90年代开始的大繁荣已经转变为规模更大的萧条，决策者求助过时的金融工程，妄图重获魔法。这使得失衡的全球经济成了现代经济政策史上国模最大实验的“培养皿”。决策者认为，这是一个受控实验。大错特错。