I guess the question is which policies you blame for what what problems. To me the world economy is like this gigantic ship you only think you're steering. The direction it's headed now (in the general sense) has more to do with what's been happening for the last 40 or 50 years (or much longer) rather than the last 4. Again, that's just my opinion and I'm not an expert at all.
Make no mistake, we are part of the world economy.
that's true, however, the way a country responds to economic trends has a lot to do with how their government responds to those trends. overspending, outrageous borrowing, and printing money to cover your overindulgences is not a good way to handle the economy.
i really don't want to get into a detailed political discussion but, i would like to point out, in my lifetime ( 43 years ), there has been an increasing trend, in the U.S. towards bigger, more intrusive government as well a trend towards a larger welfare state and increasingly more wasteful spending. our national debt doubled within the present administration's first year.
so, at least in America ( which is the only place i am qualified to speak of, since i only live here ), the trend, over the last 30 or 40 years has been towards progressive policies.
i can only judge the prosperity level of the country by what i see, living here. prices and unemployment are up and wages are down. bike shops, and a lot of other businesses, are closing ( and have been )because people have no extra money to spend. construction, my field, is doing poorly and a lot of people, in that field, are out of work. obamacare is causing businesses to cut employees back to part time and people to lose their policies. it's going to force people who have no insurace, because they can't afford it, to buy insrance and it's going to raise the cost of everyone's insurace ( if they can ever get the website to work ). it's also going to put greater strain on the country's finances. to my eyes, none of that is good.
but everyone has an opinion.
so, i'm not going to get farther into any political debate.