In virtually all the debates about the eurozone I have been engaged in, someone usually makes the point that it is only when things get bad enough that politicians finally act – eurobonds, debt monetisation, quantitative easing, whatever. I am not so sure. The argument ignores the problem of acute collective action.
在我参与过的几乎所有关于欧元区的辩论中,一些人经常指出,只有当形势变得足够糟糕时,政客们才会最终采取行动——比如推出欧元区共同债券、债务货币化、定量宽松、或诸如此类的措施。我不敢打包票说这种观点是对的。它忽视了短期集体行动的问题。
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