If this diagnosis is correct, advanced countries need to focus on reviving innovation and productivity growth over the medium term, and on realigning welfare promises with revenue capacity, while alleviating the pain of the truly destitute in the short run. For example, Southern Europe’s growth potential may consist in deregulating service sectors and reducing employment protection to spur creation of more private-sector jobs for retrenched government workers and unemployed youth.
如果这一诊断正确，那么发达国家就需要将注意力集中于重塑中期创新和生产率增长，同时根据收入能力重新定义福利承诺，在短期则致力于减轻真正赤贫者的痛苦。比如，南欧国家的增长潜力或许在于放松服务部门的监管、减少就业保护以为丢掉工作的政府员工和失业青年创造更多的私人部门工作岗位。