{"id":3303,"date":"2020-04-19T15:38:16","date_gmt":"2020-04-19T13:38:16","guid":{"rendered":"http:\/\/www.nyje.al\/?p=3303"},"modified":"2024-09-08T19:27:14","modified_gmt":"2024-09-08T17:27:14","slug":"socializem-pandemie","status":"publish","type":"post","link":"https:\/\/nyje.al\/sq\/socializem-pandemie\/","title":{"rendered":"Socializ\u00ebm Pandemie"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"3303\" class=\"elementor elementor-3303\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1a8b8238 e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-parent\" data-id=\"1a8b8238\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4d944631 elementor-widget elementor-widget-text-editor\" data-id=\"4d944631\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: justify\"><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\"><strong>P\u00ebrkthim | Analiz\u00eb | Project Syndicate | 19.04.2020\u00a0<\/strong><\/span><br \/><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\">Willem H. Buiter<\/span><\/p><p style=\"text-align: justify\"><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-large wp-image-5993\" src=\"http:\/\/nyje.al\/wp-content\/uploads\/2020\/04\/foto-per-socializem-pandemie-scaled-1-1024x683.jpg\" alt=\"\" width=\"1024\" height=\"683\" srcset=\"https:\/\/nyje.al\/wp-content\/uploads\/2020\/04\/foto-per-socializem-pandemie-scaled-1-1024x683.jpg 1024w, https:\/\/nyje.al\/wp-content\/uploads\/2020\/04\/foto-per-socializem-pandemie-scaled-1-768x512.jpg 768w, https:\/\/nyje.al\/wp-content\/uploads\/2020\/04\/foto-per-socializem-pandemie-scaled-1-1536x1024.jpg 1536w, https:\/\/nyje.al\/wp-content\/uploads\/2020\/04\/foto-per-socializem-pandemie-scaled-1-18x12.jpg 18w, https:\/\/nyje.al\/wp-content\/uploads\/2020\/04\/foto-per-socializem-pandemie-scaled-1-1320x880.jpg 1320w, https:\/\/nyje.al\/wp-content\/uploads\/2020\/04\/foto-per-socializem-pandemie-scaled-1-300x200.jpg 300w, https:\/\/nyje.al\/wp-content\/uploads\/2020\/04\/foto-per-socializem-pandemie-scaled-1.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/span><br \/><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\"><em>Duke na sjell\u00eb nj\u00eb tronditje ve\u00e7an\u00ebrisht shkund\u00ebse si n\u00eb ofert\u00eb ashtu edhe n\u00eb k\u00ebrkes\u00eb, pandemia COVID-19 ka p\u00ebrmbysur pothuajse brenda nat\u00ebs debate t\u00eb vjetra ideologjike. Papritmas, nd\u00ebrhyrje shtet\u00ebrore me efekte t\u00eb gjata n\u00eb ekonomi jan\u00eb b\u00ebr\u00eb t\u00eb domosdoshme p\u00ebr t\u00eb shp\u00ebtuar kapitalizmin e tregut, i cili ka pak gjasa t\u00eb dal\u00eb i pandryshuar nga kjo situat\u00eb.<br \/><\/em><\/span> <br \/><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\">Ironikisht, pik\u00ebrisht kur \u201csocialisti demokrat\u201d Bernie Sanders pezullon fushat\u00ebn e tij presidenciale n\u00eb Shtetet e Bashkuara, shum\u00eb prej politikave t\u00eb propozuar prej tij po b\u00ebhen t\u00eb domosdoshme n\u00ebp\u00ebr bot\u00eb. Masat e distancimit social p\u00ebr ta zbutur pandemin\u00eb COVID-19 kan\u00eb shkundur edhe prodhimin edhe prurjet e t\u00eb ardhurave familjare. Por efektiviteti i distancimit social mund t\u00eb minohet prej pun\u00ebtor\u00ebve t\u00eb cil\u00ebve u mungon sigurimi i posa\u00e7\u00ebm sh\u00ebndet\u00ebsor, leja sh\u00ebndet\u00ebsore e paguar, kompensimi i papun\u00ebsis\u00eb, ose forma t\u00eb tjera mb\u00ebshtetjeje n\u00eb t\u00eb hyra apo kursime. K\u00ebta individ\u00eb do t\u00eb ndihen se nuk kan\u00eb zgjedhje tjet\u00ebr p\u00ebrpos t\u00eb vazhdojn\u00eb pun\u00ebn pavar\u00ebsisht rreziqeve sh\u00ebndet\u00ebsore. Sigurimi sh\u00ebndet\u00ebsor universal duket si rezultat i pashmangsh\u00ebm edhe n\u00eb ShBA, ku Sandersi, q\u00eb virtualisht qe i vet\u00ebm nd\u00ebr politikan\u00ebt e vendit, e ka mbrojtur p\u00ebr dekada.<\/span><\/p><p style=\"text-align: justify\"><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\">Nj\u00ebkoh\u00ebsisht, tronditjet fillestare n\u00eb ofert\u00eb dhe k\u00ebrkes\u00eb \u2013 respektivisht t\u00eb pun\u00ebs dhe t\u00eb konsumit sht\u00ebpiak \u2013 prej kriz\u00ebs s\u00eb COVID-19-s po p\u00ebrforcohen prej shembjes s\u00eb zinxhir\u00ebve furnizues lokal\u00eb, komb\u00ebtar\u00eb, rajonal\u00eb dhe global\u00eb. Dhe t\u00eb gjitha k\u00ebto tronditje t\u00eb ekonomis\u00eb-reale po shkaktojn\u00eb shkundje edhe n\u00eb sistemin financiar.<\/span><br \/><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\">N\u00eb k\u00ebto kushte, bankat qendrore kan\u00eb rol vendimtar p\u00ebr t\u00eb luajtur n\u00eb parandalim, q\u00eb tregjet e \u00e7rregullta financiare t\u00eb mos rrisin barr\u00ebn e kompanive jo-financiare dhe familjeve. Bankat qendrore duhet t\u00eb pakt\u00ebn t\u00eb nd\u00ebrhyjn\u00eb p\u00ebr t\u00eb siguruar likuiditet t\u00eb mjaftuesh\u00ebm n\u00eb tregje ky\u00e7e, p\u00ebrfshir\u00eb tregun e borxheve qeveritare, t\u00eb letrave me vler\u00eb q\u00eb \u00e7ertifikojn\u00eb asete ky\u00e7e si hipotekat residenciale and komer\u00e7iale.<\/span><br \/><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\">Megjithat\u00eb, po aq e r\u00ebnd\u00ebsishme \u00ebsht\u00eb q\u00eb bankat qendrore t\u00eb sigurojn\u00eb likuiditet p\u00ebr familjet dhe korporatat, q\u00eb t\u00eb mos shteroj\u00eb prej t\u00ebrheqjeve t\u00eb shtyra nga frika dhe vet\u00ebp\u00ebrmbushja. Aty ku ka vend, ata mund t\u00eb ofrojn\u00eb financim monetar p\u00ebr stimulim fiskal (para me helikopter), n\u00eb m\u00ebnyr\u00eb q\u00eb qeverit\u00eb q\u00eb p\u00ebrndryshe do t\u00eb mund t\u00eb kufizoheshin nga tregjet e bondeve sovrane nuk i kan\u00eb duart e lidhura.<\/span><\/p><p style=\"text-align: justify\"><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\">Th\u00ebn\u00eb kjo, bankat qendrore nuk jan\u00eb institucionet e posa\u00e7me p\u00ebr t\u00eb adresuar defi\u00e7itin e t\u00eb ardhurave t\u00eb bizneseve dhe rrezikun e falimentimit t\u00eb korporatave, ose shkundjet e t\u00eb ardhurave familjare dhe problemet e lidhura me mir\u00ebmbajtjen e borxhit konsumator,\u00a0 studentor dhe t\u00eb hipotekave. \u00cbsht\u00eb e v\u00ebrtet\u00eb se bankat qendrore mund t\u00eb marrin p\u00ebrsip\u00ebr p\u00ebrkoh\u00ebsisht nj\u00eb pjes\u00eb t\u00eb barr\u00ebs, duke bler\u00eb borxhin me rrezik t\u00eb lart\u00eb t\u00eb korporatave dhe letrat me vler\u00eb t\u00eb cil\u00ebsis\u00eb s\u00eb ul\u00ebt. Mir\u00ebpo detyra e madhe e parandalimit t\u00eb nj\u00eb katastrofe ekonomike padyshim i takon autoriteteve fiskale.<\/span><br \/><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\">N\u00eb rastin e kriz\u00ebs s\u00eb COVID-19-s, nevojiten mandate dhe financime publike p\u00ebr t\u00eb siguruar q\u00eb t\u00eb gjith\u00eb t\u00eb mund t\u00eb testohen shpejt e sakt\u00eb p\u00ebr virusin korona. Bashk\u00ebpunimi global mund t\u00eb luaj\u00eb rol t\u00eb r\u00ebnd\u00ebsish\u00ebm k\u00ebtu, duke marr\u00eb parasysh natyr\u00ebn e pap\u00ebrsosm\u00ebrisht t\u00eb sinkronizuar t\u00eb shp\u00ebrhapjeve komb\u00ebtare. Por, tek e fundit, t\u00eb gjitha trajtimet lidhur me virusin korona (p\u00ebrfshir\u00eb shtrimin n\u00eb spitale) do ken\u00eb nevoj\u00eb t\u00eb mbulohen nga shteti dhe vet\u00ebm qeverit\u00eb komb\u00ebtare mund t\u00eb mobilizojn\u00eb financim n\u00eb k\u00ebt\u00eb p\u00ebrmas\u00eb.<\/span><\/p><p style=\"text-align: justify\"><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\">Ngjash\u00ebm, shteti do t\u00eb ket\u00eb nevoj\u00eb edhe q\u00eb t\u00eb siguroj\u00eb kompensim t\u00eb plot\u00eb p\u00ebr pun\u00ebtor\u00eb q\u00eb humbin t\u00eb ardhurat si rezultat i kriz\u00ebs. P\u00ebr t\u00eb mbajtur k\u00ebrkes\u00ebn agregate, qeverit\u00eb mund t\u00eb fusin p\u00ebrkoh\u00ebsisht t\u00eb ardhurat baz\u00eb universale, ku \u00e7do i rritur merr nj\u00eb transfert\u00eb kesh periodike p\u00ebr aq sa zgjat kriza. Edhe ShBA-ja me Presidentin Doland Trump \u00ebsht\u00eb p\u00ebr\u00e7artur drejt k\u00ebsaj mase, qartazi leht\u00ebsuese, duke p\u00ebrfshir\u00eb s\u00eb fundmi n\u00eb paket\u00ebn e tyre t\u00eb shp\u00ebtimit 2.1 trilion dollar\u00ebshe nj\u00eb rimbursim prej 1 mij\u00eb e 2 qind dollar\u00ebsh p\u00ebr \u00e7do t\u00eb rritur q\u00eb merr m\u00eb pak se 75 mij\u00eb dollar\u00eb n\u00eb vit.<\/span><\/p><p style=\"text-align: justify\"><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\">Megjithat\u00eb, edhe me mb\u00ebshtetjen financiare qeveritare, me gjas\u00eb kompanit\u00eb ende do t\u00eb p\u00ebrjetojn\u00eb r\u00ebnie dramatike n\u00eb t\u00eb ardhura, prej shkundjeve t\u00eb lidhura me kriz\u00ebn sa i p\u00ebrket forc\u00ebs pun\u00ebtore, k\u00ebrkes\u00ebs s\u00eb brendshme e t\u00eb jashtme dhe zinxhir\u00ebve furnizues t\u00eb t\u00eb gjitha niveleve. K\u00ebtu, shteti mund t\u00eb futet si bler\u00ebs i streh\u00ebs s\u00eb fundit, ose do t\u00eb mundej t\u00eb siguroj\u00eb kredi ose garanci kredie p\u00ebr kompanit\u00eb me telashe financiare. Nj\u00eb kredi e till\u00eb do mund t\u00eb konvertohej n\u00eb kapital, qoft\u00eb p\u00ebrnj\u00ebher\u00eb ose pas p\u00ebrfundimit t\u00eb kriz\u00ebs, n\u00eb form\u00ebn e aksioneve pa t\u00eb drejt\u00eb vote por me parap\u00eblqim, duke ndaluar k\u00ebshtu rr\u00ebshkitjen n\u00eb nj\u00eb ekonomi t\u00eb planifikuar.<\/span><\/p><p style=\"text-align: justify\"><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\">Nuk duhet t\u00eb ket\u00eb kufizime mbi p\u00ebrzgjedhjen p\u00ebr format e ndryshme t\u00eb mb\u00ebshtetjes financiare t\u00eb p\u00ebrvijuara k\u00ebtu. Korporatat e m\u00ebdha mund t\u00eb preken nj\u00eblloj me nd\u00ebrmarrjet e vogla dhe t\u00eb mesme, me t\u00eb vet\u00ebpun\u00ebsuarit dhe me pun\u00ebtor\u00ebt sipas rastit prej r\u00ebnies s\u00eb k\u00ebrkes\u00ebs dhe shkundjeve t\u00eb zinxhirit furnizues. Edhe pse p\u00ebr nj\u00eb far\u00eb kohe mund t\u00eb jen\u00eb n\u00eb gjendje ta mbajn\u00eb veten \u2013 fal\u00eb qasjes s\u00eb madhe q\u00eb kan\u00eb n\u00eb kredit\u00eb bankare dhe tregjet e borxheve \u2013 nuk do t\u00eb mund t\u2019ia dalin gjithmon\u00eb. Marr\u00eb parasysh grumbullimin e borxhit jo-financiar korporativ para pandemis\u00eb, do t\u00eb mund t\u00eb shihnim leht\u00ebsisht nj\u00eb val\u00eb mospagimesh dhe falimentimesh t\u00eb korporatave n\u00eb munges\u00eb t\u00eb nd\u00ebrhyrjes shtet\u00ebrore.<\/span><br \/><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\">K\u00ebt\u00eb her\u00eb kriz\u00ebn nuk e nis\u00ebn bankat dhe nd\u00ebrmjet\u00ebsuesit e tyre financiar\u00eb jo-bankar\u00eb, por pashmangsh\u00ebm do t\u00eb b\u00ebhen pjes\u00eb e saj dhe do t\u00eb b\u00ebhen po ashtu kandidat\u00eb p\u00ebr shp\u00ebtimet e ndihm\u00ebn financiare shtet\u00ebrore teksa ana e aseteve t\u00eb bilancit t\u00eb tyre fillon t\u00eb p\u00ebrkeq\u00ebsohet. Dhe metodat urdh\u00ebrore t\u00eb njohura nga ekonomit\u00eb e tregut n\u00eb koh\u00eb lufte dhe ekonomit\u00eb me planifikim q\u00ebndror \u2013 mendoni p\u00ebr ekzekutimin q\u00eb Trump-i i b\u00ebri Aktit t\u00eb Prodhimit p\u00ebr Mbrojtje p\u00ebr t\u00eb detyruar General Motors dhe 3M t\u00eb prodhojn\u00eb mjete t\u00eb vyera sh\u00ebndet\u00ebsore \u2013 mund t\u00eb jetojn\u00eb gjat\u00eb pas kriz\u00ebs.<\/span><\/p><p style=\"text-align: justify\"><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\">Si p\u00ebrfundim, socializmi i ri do t\u00eb ket\u00eb edhe p\u00ebrmas\u00eb nd\u00ebrkomb\u00ebtare. Italis\u00eb, p\u00ebr shembull, do t\u2019i nevojitet p\u00ebrkrahja e Bank\u00ebs Qendrore Europiane ose e Mekanizmit Europian p\u00ebr Stabilitet, ose qoft\u00eb p\u00ebrmes sigurimit t\u00eb bondeve t\u00eb virusit korona p\u00ebr eurozon\u00ebn. Nd\u00ebr ekonomit\u00eb n\u00eb zhvillim dhe atyre n\u00eb \u00e7elje, tregjet e jashtme t\u00eb borxhit po u kufizojn\u00eb sakaq shum\u00eb prej tyre aft\u00ebsin\u00eb p\u00ebr t\u00eb ofruar mb\u00ebshtetje financiare. Adresimi i k\u00ebtyre kufizimeve me m\u00eb shum\u00eb ndihma nga jasht\u00eb prej ekonomive t\u00eb p\u00ebrparuara \u2013\u00a0 p\u00ebrfshi k\u00ebtu nj\u00eb rritje t\u00eb shenjestruar n\u00eb t\u00eb Drejtat e Ve\u00e7anta p\u00ebr T\u00ebrheqje t\u00eb Fondit Monetar Nd\u00ebrkomb\u00ebtare \u2013 do t\u00eb ishte p\u00ebrgjigjja moralisht korrekte dhe ekonomikisht e sh\u00ebndosh\u00eb.<\/span><\/p><p style=\"text-align: justify\"><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\">Ashtu si\u00e7 tregon trajektorja e kriz\u00ebs s\u00eb COVID-19-s, ekonomive kapitaliste t\u00eb tregut do t\u2019u duhet t\u2019i hapin rrug\u00eb, t\u00eb pakt\u00ebn p\u00ebrkoh\u00ebsisht, nj\u00eb forme t\u00eb improvizuar t\u00eb socializmit q\u00eb synon p\u00ebrt\u00ebritjen e prurjeve t\u00eb t\u00eb ardhurave p\u00ebr familjet dhe atyre p\u00ebr kompanit\u00eb. Pask\u00ebtaj do t\u00eb shohim n\u00ebse pasojat e k\u00ebtij eksperimenti me socializmin do t\u00eb mbesin p\u00ebrtej fundit t\u00eb pandemis\u00eb.<\/span><\/p><p style=\"text-align: justify\"><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\"><strong>P\u00ebrktheu: Pavjo Gjini <\/strong><\/span><br \/><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\"><strong>Redaktoi: Genc Shehu<\/strong><\/span><br \/><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\"><em>Ky shkrim \u00ebsht\u00eb botuar me dat\u00eb 9 prill 2020, n\u00eb website-in e <a href=\"https:\/\/www.project-syndicate.org\/columnists\">Project Syndicate<\/a>, platform\u00eb nd\u00ebrkomb\u00ebtare ku ndahen komentimet ekonomike dhe politike mbi gjendjen aktuale t\u00eb bot\u00ebs prej shum\u00eb autor\u00ebve t\u00eb njohur nd\u00ebrkomb\u00ebtarisht p\u00ebr kontributin n\u00eb fushat e tyre.<\/em><\/span><br \/><span style=\"font-family: georgia, palatino, serif;font-size: 14pt\"><em>P\u00ebr p\u00ebrkthimin dhe ribotimin e tij kemi respektuar t\u00eb drejtat e autorit duke marr\u00eb paraprakisht miratimin e kryeredaktor\u00ebve t\u00eb Project Syndicate.<\/em><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>P\u00ebrkthim | Analiz\u00eb | Project Syndicate | 19.04.2020\u00a0Willem H. Buiter Duke na sjell\u00eb nj\u00eb tronditje ve\u00e7an\u00ebrisht shkund\u00ebse si n\u00eb ofert\u00eb ashtu edhe n\u00eb k\u00ebrkes\u00eb, pandemia COVID-19 ka p\u00ebrmbysur pothuajse brenda nat\u00ebs debate t\u00eb vjetra ideologjike. Papritmas, nd\u00ebrhyrje shtet\u00ebrore me efekte t\u00eb gjata n\u00eb ekonomi jan\u00eb b\u00ebr\u00eb t\u00eb domosdoshme p\u00ebr t\u00eb shp\u00ebtuar kapitalizmin e tregut, i cili ka pak gjasa t\u00eb dal\u00eb i pandryshuar nga kjo situat\u00eb. Ironikisht, pik\u00ebrisht kur \u201csocialisti demokrat\u201d Bernie Sanders pezullon fushat\u00ebn e tij presidenciale n\u00eb Shtetet e Bashkuara, shum\u00eb prej politikave t\u00eb propozuar prej tij po b\u00ebhen t\u00eb domosdoshme n\u00ebp\u00ebr bot\u00eb. Masat e distancimit social p\u00ebr ta zbutur pandemin\u00eb COVID-19 kan\u00eb shkundur edhe prodhimin edhe prurjet e t\u00eb ardhurave familjare. Por efektiviteti i distancimit social mund t\u00eb minohet prej pun\u00ebtor\u00ebve t\u00eb cil\u00ebve u mungon sigurimi i posa\u00e7\u00ebm sh\u00ebndet\u00ebsor, leja sh\u00ebndet\u00ebsore e paguar, kompensimi i papun\u00ebsis\u00eb, ose forma t\u00eb tjera mb\u00ebshtetjeje n\u00eb t\u00eb hyra apo kursime. K\u00ebta individ\u00eb do t\u00eb ndihen se nuk kan\u00eb zgjedhje tjet\u00ebr p\u00ebrpos t\u00eb vazhdojn\u00eb pun\u00ebn pavar\u00ebsisht rreziqeve sh\u00ebndet\u00ebsore. Sigurimi sh\u00ebndet\u00ebsor universal duket si rezultat i pashmangsh\u00ebm edhe n\u00eb ShBA, ku Sandersi, q\u00eb virtualisht qe i vet\u00ebm nd\u00ebr politikan\u00ebt e vendit, e ka mbrojtur p\u00ebr dekada. Nj\u00ebkoh\u00ebsisht, tronditjet fillestare n\u00eb ofert\u00eb dhe k\u00ebrkes\u00eb \u2013 respektivisht t\u00eb pun\u00ebs dhe t\u00eb konsumit sht\u00ebpiak \u2013 prej kriz\u00ebs s\u00eb COVID-19-s po p\u00ebrforcohen prej shembjes s\u00eb zinxhir\u00ebve furnizues lokal\u00eb, komb\u00ebtar\u00eb, rajonal\u00eb dhe global\u00eb. Dhe t\u00eb gjitha k\u00ebto tronditje t\u00eb ekonomis\u00eb-reale po shkaktojn\u00eb shkundje edhe n\u00eb sistemin financiar.N\u00eb k\u00ebto kushte, bankat qendrore kan\u00eb rol vendimtar p\u00ebr t\u00eb luajtur n\u00eb parandalim, q\u00eb tregjet e \u00e7rregullta financiare t\u00eb mos rrisin barr\u00ebn e kompanive jo-financiare dhe familjeve. Bankat qendrore duhet t\u00eb pakt\u00ebn t\u00eb nd\u00ebrhyjn\u00eb p\u00ebr t\u00eb siguruar likuiditet t\u00eb mjaftuesh\u00ebm n\u00eb tregje ky\u00e7e, p\u00ebrfshir\u00eb tregun e borxheve qeveritare, t\u00eb letrave me vler\u00eb q\u00eb \u00e7ertifikojn\u00eb asete ky\u00e7e si hipotekat residenciale and komer\u00e7iale.Megjithat\u00eb, po aq e r\u00ebnd\u00ebsishme \u00ebsht\u00eb q\u00eb bankat qendrore t\u00eb sigurojn\u00eb likuiditet p\u00ebr familjet dhe korporatat, q\u00eb t\u00eb mos shteroj\u00eb prej t\u00ebrheqjeve t\u00eb shtyra nga frika dhe vet\u00ebp\u00ebrmbushja. Aty ku ka vend, ata mund t\u00eb ofrojn\u00eb financim monetar p\u00ebr stimulim fiskal (para me helikopter), n\u00eb m\u00ebnyr\u00eb q\u00eb qeverit\u00eb q\u00eb p\u00ebrndryshe do t\u00eb mund t\u00eb kufizoheshin nga tregjet e bondeve sovrane nuk i kan\u00eb duart e lidhura. Th\u00ebn\u00eb kjo, bankat qendrore nuk jan\u00eb institucionet e posa\u00e7me p\u00ebr t\u00eb adresuar defi\u00e7itin e t\u00eb ardhurave t\u00eb bizneseve dhe rrezikun e falimentimit t\u00eb korporatave, ose shkundjet e t\u00eb ardhurave familjare dhe problemet e lidhura me mir\u00ebmbajtjen e borxhit konsumator,\u00a0 studentor dhe t\u00eb hipotekave. \u00cbsht\u00eb e v\u00ebrtet\u00eb se bankat qendrore mund t\u00eb marrin p\u00ebrsip\u00ebr p\u00ebrkoh\u00ebsisht nj\u00eb pjes\u00eb t\u00eb barr\u00ebs, duke bler\u00eb borxhin me rrezik t\u00eb lart\u00eb t\u00eb korporatave dhe letrat me vler\u00eb t\u00eb cil\u00ebsis\u00eb s\u00eb ul\u00ebt. Mir\u00ebpo detyra e madhe e parandalimit t\u00eb nj\u00eb katastrofe ekonomike padyshim i takon autoriteteve fiskale.N\u00eb rastin e kriz\u00ebs s\u00eb COVID-19-s, nevojiten mandate dhe financime publike p\u00ebr t\u00eb siguruar q\u00eb t\u00eb gjith\u00eb t\u00eb mund t\u00eb testohen shpejt e sakt\u00eb p\u00ebr virusin korona. Bashk\u00ebpunimi global mund t\u00eb luaj\u00eb rol t\u00eb r\u00ebnd\u00ebsish\u00ebm k\u00ebtu, duke marr\u00eb parasysh natyr\u00ebn e pap\u00ebrsosm\u00ebrisht t\u00eb sinkronizuar t\u00eb shp\u00ebrhapjeve komb\u00ebtare. Por, tek e fundit, t\u00eb gjitha trajtimet lidhur me virusin korona (p\u00ebrfshir\u00eb shtrimin n\u00eb spitale) do ken\u00eb nevoj\u00eb t\u00eb mbulohen nga shteti dhe vet\u00ebm qeverit\u00eb komb\u00ebtare mund t\u00eb mobilizojn\u00eb financim n\u00eb k\u00ebt\u00eb p\u00ebrmas\u00eb. Ngjash\u00ebm, shteti do t\u00eb ket\u00eb nevoj\u00eb edhe q\u00eb t\u00eb siguroj\u00eb kompensim t\u00eb plot\u00eb p\u00ebr pun\u00ebtor\u00eb q\u00eb humbin t\u00eb ardhurat si rezultat i kriz\u00ebs. P\u00ebr t\u00eb mbajtur k\u00ebrkes\u00ebn agregate, qeverit\u00eb mund t\u00eb fusin p\u00ebrkoh\u00ebsisht t\u00eb ardhurat baz\u00eb universale, ku \u00e7do i rritur merr nj\u00eb transfert\u00eb kesh periodike p\u00ebr aq sa zgjat kriza. Edhe ShBA-ja me Presidentin Doland Trump \u00ebsht\u00eb p\u00ebr\u00e7artur drejt k\u00ebsaj mase, qartazi leht\u00ebsuese, duke p\u00ebrfshir\u00eb s\u00eb fundmi n\u00eb paket\u00ebn e tyre t\u00eb shp\u00ebtimit 2.1 trilion dollar\u00ebshe nj\u00eb rimbursim prej 1 mij\u00eb e 2 qind dollar\u00ebsh p\u00ebr \u00e7do t\u00eb rritur q\u00eb merr m\u00eb pak se 75 mij\u00eb dollar\u00eb n\u00eb vit. Megjithat\u00eb, edhe me mb\u00ebshtetjen financiare qeveritare, me gjas\u00eb kompanit\u00eb ende do t\u00eb p\u00ebrjetojn\u00eb r\u00ebnie dramatike n\u00eb t\u00eb ardhura, prej shkundjeve t\u00eb lidhura me kriz\u00ebn sa i p\u00ebrket forc\u00ebs pun\u00ebtore, k\u00ebrkes\u00ebs s\u00eb brendshme e t\u00eb jashtme dhe zinxhir\u00ebve furnizues t\u00eb t\u00eb gjitha niveleve. K\u00ebtu, shteti mund t\u00eb futet si bler\u00ebs i streh\u00ebs s\u00eb fundit, ose do t\u00eb mundej t\u00eb siguroj\u00eb kredi ose garanci kredie p\u00ebr kompanit\u00eb me telashe financiare. Nj\u00eb kredi e till\u00eb do mund t\u00eb konvertohej n\u00eb kapital, qoft\u00eb p\u00ebrnj\u00ebher\u00eb ose pas p\u00ebrfundimit t\u00eb kriz\u00ebs, n\u00eb form\u00ebn e aksioneve pa t\u00eb drejt\u00eb vote por me parap\u00eblqim, duke ndaluar k\u00ebshtu rr\u00ebshkitjen n\u00eb nj\u00eb ekonomi t\u00eb planifikuar. Nuk duhet t\u00eb ket\u00eb kufizime mbi p\u00ebrzgjedhjen p\u00ebr format e ndryshme t\u00eb mb\u00ebshtetjes financiare t\u00eb p\u00ebrvijuara k\u00ebtu. Korporatat e m\u00ebdha mund t\u00eb preken nj\u00eblloj me nd\u00ebrmarrjet e vogla dhe t\u00eb mesme, me t\u00eb vet\u00ebpun\u00ebsuarit dhe me pun\u00ebtor\u00ebt sipas rastit prej r\u00ebnies s\u00eb k\u00ebrkes\u00ebs dhe shkundjeve t\u00eb zinxhirit furnizues. Edhe pse p\u00ebr nj\u00eb far\u00eb kohe mund t\u00eb jen\u00eb n\u00eb gjendje ta mbajn\u00eb veten \u2013 fal\u00eb qasjes s\u00eb madhe q\u00eb kan\u00eb n\u00eb kredit\u00eb bankare dhe tregjet e borxheve \u2013 nuk do t\u00eb mund t\u2019ia dalin gjithmon\u00eb. Marr\u00eb parasysh grumbullimin e borxhit jo-financiar korporativ para pandemis\u00eb, do t\u00eb mund t\u00eb shihnim leht\u00ebsisht nj\u00eb val\u00eb mospagimesh dhe falimentimesh t\u00eb korporatave n\u00eb munges\u00eb t\u00eb nd\u00ebrhyrjes shtet\u00ebrore.K\u00ebt\u00eb her\u00eb kriz\u00ebn nuk e nis\u00ebn bankat dhe nd\u00ebrmjet\u00ebsuesit e tyre financiar\u00eb jo-bankar\u00eb, por pashmangsh\u00ebm do t\u00eb b\u00ebhen pjes\u00eb e saj dhe do t\u00eb b\u00ebhen po ashtu kandidat\u00eb p\u00ebr shp\u00ebtimet e ndihm\u00ebn financiare shtet\u00ebrore teksa ana e aseteve t\u00eb bilancit t\u00eb tyre fillon t\u00eb p\u00ebrkeq\u00ebsohet. Dhe metodat urdh\u00ebrore t\u00eb njohura nga ekonomit\u00eb e tregut n\u00eb koh\u00eb lufte dhe ekonomit\u00eb me planifikim q\u00ebndror \u2013 mendoni p\u00ebr ekzekutimin q\u00eb Trump-i i b\u00ebri Aktit t\u00eb Prodhimit p\u00ebr Mbrojtje p\u00ebr t\u00eb detyruar General Motors dhe 3M t\u00eb prodhojn\u00eb mjete t\u00eb vyera sh\u00ebndet\u00ebsore \u2013 mund t\u00eb jetojn\u00eb gjat\u00eb pas kriz\u00ebs. Si p\u00ebrfundim, socializmi i ri do t\u00eb ket\u00eb edhe p\u00ebrmas\u00eb nd\u00ebrkomb\u00ebtare. Italis\u00eb, p\u00ebr shembull, do t\u2019i nevojitet p\u00ebrkrahja e Bank\u00ebs Qendrore Europiane ose e Mekanizmit Europian p\u00ebr Stabilitet, ose qoft\u00eb p\u00ebrmes sigurimit t\u00eb bondeve t\u00eb virusit korona p\u00ebr eurozon\u00ebn. Nd\u00ebr ekonomit\u00eb n\u00eb zhvillim dhe atyre n\u00eb \u00e7elje, tregjet e jashtme t\u00eb borxhit po u kufizojn\u00eb 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