Economy Issue

Debt-ridden and hidebound, Europe may be on the verge of a painful breakup. America is still reeling from the 2008 financial crisis. Even China and India — the new engines of global growth — seem to be sputtering these days. Worse yet, the usual wonkish prescriptions don’t seem to be working anymore. So we asked ...

545225_111229_ECONbanner5.jpg
545225_111229_ECONbanner5.jpg

Debt-ridden and hidebound, Europe may be on the verge of a painful breakup. America is still reeling from the 2008 financial crisis. Even China and India -- the new engines of global growth -- seem to be sputtering these days. Worse yet, the usual wonkish prescriptions don’t seem to be working anymore. So we asked 13 of the smartest people we know to give us their one out-of-the-box idea for fixing the global economy. Here’s what they recommend.

Debt-ridden and hidebound, Europe may be on the verge of a painful breakup. America is still reeling from the 2008 financial crisis. Even China and India — the new engines of global growth — seem to be sputtering these days. Worse yet, the usual wonkish prescriptions don’t seem to be working anymore. So we asked 13 of the smartest people we know to give us their one out-of-the-box idea for fixing the global economy. Here’s what they recommend.

stripes

  • 1. Write off the World’s Debt
    By Paul Kedrosky

  • 2. Hire Everybody
    By Diane Coyle

  • 3. Get Better Data
    By Paul Saffo

  • 4. Cut Defense Spending
    By Barney Frank

  • 5. Whip Up Inflation, Now
    By Menzie Chinn and Jeffry Frieden

  • 6. Spend $1 Trillion on the Future
    By Justin Yifu Lin

  • 7. Raise the Minimum Wage. A Lot.
    By James K. Galbraith

  • 8. Think Small
    By Vivek Wadhwa

  • 9. Tame the World’s Crazy Currency System
    By David M. Smick

  • 10. Buy More Yachts
    By Robert H. Frank

  • 11. Get Healthy, Get Wealthy
    By Esther Dyson

  • 12. Build Green Cities
    By Alex Steffen

  • 13. Take a Vacation
    By Daniel C. Dennett

Facebook|Twitter|Digg

More from Foreign Policy

A worker cuts the nose off the last Ukraine's Tupolev-22M3, the Soviet-made strategic aircraft able to carry nuclear weapons at a military base in Poltava, Ukraine on Jan. 27, 2006. A total of 60 aircraft were destroyed  according to the USA-Ukrainian disarmament agreement.
A worker cuts the nose off the last Ukraine's Tupolev-22M3, the Soviet-made strategic aircraft able to carry nuclear weapons at a military base in Poltava, Ukraine on Jan. 27, 2006. A total of 60 aircraft were destroyed according to the USA-Ukrainian disarmament agreement.

Why Do People Hate Realism So Much?

The school of thought doesn’t explain everything—but its proponents foresaw the potential for conflict over Ukraine long before it erupted.

Employees watch a cargo ship at a port in China, which is experiencing an economic downturn.
Employees watch a cargo ship at a port in China, which is experiencing an economic downturn.

China’s Crisis of Confidence

What if, instead of being a competitor, China can no longer afford to compete at all?

Federal Reserve Chair Jerome Powell testifies in the U.S. Senate in Washington on Sept. 24, 2020.
Federal Reserve Chair Jerome Powell testifies in the U.S. Senate in Washington on Sept. 24, 2020.

Why This Global Economic Crisis Is Different

This is the first time since World War II that there may be no cooperative way out.

Chinese President Xi Jinping (left) and Premier Li Keqiang applaud at the closing session of the National People's Congress at the Great Hall of the People in Beijing on March 11.
Chinese President Xi Jinping (left) and Premier Li Keqiang applaud at the closing session of the National People's Congress at the Great Hall of the People in Beijing on March 11.

China Is Hardening Itself for Economic War

Beijing is trying to close economic vulnerabilities out of fear of U.S. containment.