But that would require them to rely less on monetary policy and more on appropriate fiscal policies (such as higher spending on productive infrastructure). Even income policies that lift wages, and hence labor income and consumption, are a better source of domestic growth than currency depreciations (which depress real wages).
如果大部分政府追求通过内需刺激增长的政策，而不是以邻为壑的出口手段，世界将会变得更好。但这需要它们更少依赖货币政策，更多依赖合理的财政政策（如增加生产性基础设施的支出）。甚至提高工资、因此提高劳动收入和消费的收入政策也比货币贬值（这样会抑制真实工资）更有利于国内增长。