Asking the right question

This week’s Economist special report on the world economy should at least be commended for asking the right question: “How to grow”. It is rare for this crucial topic to be extensively discussed in these peculiar times.

Whether the solutions it advocates are desirable is another matter. On the macroeconomic side the focus is on emerging currencies allowing their currencies to rise and a long term approach to fiscal consolidation. On the microeconomic side it favours the break-up of service oligopolies and labour market reform. In America it favours more rapid restructuring of household debt.