Last modified on 18 July 2014, at 22:37

Nouriel Roubini

Nouriel Roubini, January 2009

Nouriel Roubini (born March 29, 1958) is a Turkish-American professor of economics at New York University and chairman of the economic website Roubini Global Economics. He was a Treasury official during the Clinton administration and has taught at Yale University.

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  • It’s not as if there’s infinite wealth. There are thousands of new luxury units coming on the market, and the question is, who will buy them? If people start losing jobs, who can afford to pay 2, 3, 4, 5 million dollars? Do you know 10,000 new investment bankers on Wall Street?
  • I think globalization actually maintains and fosters various elements of national and cultural identities. I don’t think everything is being homogenized. If anything, your food, your culture, and your ethnicity might become part of the globalized world, and thus absorbed by other countries.
  • Janera:: Do you think then that it’s good that the French are abolishing the headscarves or the yarmulke?
    Roubini: I’m not in favor of restricting what people wear. It’s counterproductive and creates more separation. The effect of the French policy is that children will attend a religious school and won’t be exposed to the secular education that France offers. They won’t learn the value of western modern secular values.
    • Quoted in Janera Soerel, "Talking to Nouriel Roubini," Janera (2007-05-02)
  • The challenge we face is how to integrate the Muslim world into the global economy. Asia has become part of it, but not Africa or the Middle East.

    One could realistically think about a Marshall Plan with respect to this part of the world, to succeed in integrating the Muslim and Arab world into the global economy as we did in Europe after World War II. For example, we’ve wasted hundreds of billions of dollars on the Iraq war. Had we taken a third of this money and invested it into a Marshall Plan for the Middle East, the benefits would have been ten times more than wasting it on a war.

    • Quoted in Janera Soerel, "Talking to Nouriel Roubini," Janera (2007-05-02)
  • Reckless people have deluded themselves that this was a subprime crisis. But we have problems with credit-card debt, student-loan debt, auto loans, commercial real estate loans, home-equity loans, corporate debt and loans that financed leveraged buyouts... We have a subprime financial system, not a subprime mortgage market.
  • Our biggest financiers are China, Russia and the gulf states. These are rivals, not allies.
    • Quoted in Stephen Mihm, "Dr. Doom," The New York Times (2008-08-15)

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