In the past year or so, it's been hard to read the name "Nouriel Roubini" without it being preceded by "economic doomsayer." So I thought it was interesting that at the end of this lengthy and interesting New Republic profile of Roubini there are some words of hope from the economist. He says the recession may have at least one positive side effect:
Given the right changes, perhaps the United States can develop with the productive long view in mind, and maybe its human talent can be spread more equitably. "When you have more financial engineers than computer engineers, you know that the brightest minds have gone into something where, probably, the margin was excessive," he had told me earlier. "Maybe some of these bright people are going to do something entrepreneurial, more creative, or go into government. I think that's actually a good change. The transition is painful, but the result may be good."
I've written before about how recessions fuel entrepreneurship. Click here.