05 Dec '11, 2am

The current global economic crisis is just a 'blip', Freakonomics author Steven Levitt says

NEW DELHI (AFP) - No matter how bad the global financial turmoil seems, don't worry - there's no doomsday looming on the horizon, says Freakonomics author Steven Levitt. Mr Levitt, known for his startling and provocative observations about human behaviour, has comforting words for those alarmed about Europe's debt crisis and the sluggish US economy. 'It doesn't feel like 'The End',' said Levitt, 44, a leading professor of economics at the University of Chicago, who was on a lightning 48-hour trip to India for a speaking engagement. 'The US economy is even growing a little,' Levitt noted, referring to a two per cent expansion in the last quarter. In fact, 'economies around the world have grown so much since World War Two, - unless there's something horrific on the horizon which I don't see - people will look back on these days as nothing more than a blip,' he told AFP.

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...


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