Nouriel Roubini, Professor of Economics, NYU’s Stern School of Business:

February 2, 2012

 

“Korea, Japan and Israel are the most successful countries. Neither Canada, nor Russia nor any other countries with natural resources can match their success. The secret of growth of the first countries mentioned is their investment in human capital. The problem is that in developed countries in the last 20 years, investments have been made in much less productive industries – finance and real estate.”