But fiscal policy can. We have an ample choice of public investments that would yield high returns – far higher than the real cost of capital – and that would strengthen the balance sheets of the countries undertaking them.
这就把我们引回了政治和政策。需求是世界最需要的东西。私人部门——即使有货币当局的慷慨支持——无法提供这个东西。但财政政策可以。我们有的是可以带来高回报的公共投资选项——远远高于真实资本成本——并且还能强化实施投资的国家的资产负债表。