Macroeconomic policies interact with on-the-ground microeconomic realities in subtle but powerful, rarely remarked-upon ways. Simply put, Europe’s microeconomic structure makes the same growth-based macroeconomic policies less effective in the European Union than in the US.
但问题并不是选择扩张或者紧缩那么简单。宏观经济政策会以一种微妙却有力，而且鲜有人提到的方式与微观经济现实进行互动。简而言之，虽然同样都是以增长为目的的宏观经济政策，但欧洲的微观经济结构使其无法在欧盟取得与美国一样的效果。