Despite being the epicenter of the current world crisis, considered by many the biggest since the Great Depression, the USA shall get out of the economic turbulence before Europe, defended economist Gary Becker, economics Nobel Prize laureate in 1992.
For Becker, the main reason for this lies in the economic model adopted by these countries. The American, more liberal, and the European, with more public interference."It is true that the capital markets in the US will not behave well, but the flexibility in the US economy will bring us out of this crisis faster than in other countries, like France and Germany," argues Becker, and goes further, "The US will still be the main global economy."
The recovery of the US, for Becker, will start slowly in this year's fourth trimester and will pick up throughout 2010. A opinion that is seen as full of optimism by Becker himself. Usually in this sector predictions of respected analysts are more somber.
The Nobel laureate relies on four main forces, as known as METT: Markets, Education, Technology and Commerce. He cites that the combination of those is essential. "Take away one of them and you have problems. With them all together, you have a diamond."
There are still bad problems facing stabilization, admits Becker. "I believe that we will have a little bit on inflation. The quantity of resources injected by the FED in the economy was huge. "But still, I see a brilliant future and a recuperation that won't take long, like a long stagnation that some think."
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