After the Crisis: The Way Ahead

The 2007-2009 crisis has been christened "financial" because itsmost spectacular features did show up in the financial sector. But the crisis is a crisis because of its consequences on the real economy: the fall of GDP, the rise of unemployment and the human distress caused by the loss of income and jobs. Indeed if it were not for these painful effects, why should we care? this report by a group of economists points the way out of the global economic crisis. Its primary focus is on the developed countries, mainly Europe and the United States. It develops its solutions in part by an in-depth analysis of the causes of the crisis. the gathering together of a small group of economists of different countries, different experiences, and even different doctrinal orientation, allows us to offer both a coherent analysis and a set of recommendations and the qualifications and depth provided by the diversity of views. the report is divided in four parts dealing respectively with the causes of the crisis, its anatomy across the world, the policies apt to combat its effects and to revive growth and last with the particular problems of the Italian economy.