Debates persist in the US and eurozone about growth and job creation versus fiscal discipline. This false choice diverts fiscal focus away from a balanced approach that could achieve both imperatives. Such false choices also contribute to the failure of our political systems to better address continuing hardship through advancing growth and employment, and through programmes such as the unemployment insurance extension. Moreover, that political failure has also contributed to central bank decisions to employ unconventional monetary policies that create widely under-appreciated risks.
在美国和欧元区，促增长以及创就业与财政纪律孰轻孰重的辩论仍在继续。这是种“虚假选择”，使财政焦点偏离了本可一举两得的均衡手段。此类虚假选择还促使我们的政治体系无法通过促进增长和就业、以及延长失业保险等计划，来更好地化解失业者持续的生活困难。此外，这种政治上的失败也促使央行决定采用非传统货币政策，此类政策带来的风险被普遍低估。