The difficulty in a number of Western democracies is that the playing field is being tilted. For many in the middle class, prosperity seems unattainable because a good education - today's passport to riches - is unaffordable.
We should make sure that unscrupulous schools do not prey on uninformed students, leaving them with high debt and useless degrees.
The government will always tell you that it wants low inflation. The real issue is the horizon over which to bring inflation down.
To ensure stable and sustainable economic growth, world leaders must re-examine the international rules of the monetary game, with advanced and emerging economies alike adopting more mutually beneficial monetary policies.
Perhaps the hardest challenge has been to persuade the public, impatient for rapid growth, of the need to ensure stability first. Growth, it is argued, is always more important, regardless of the looming economic risks.
The first step to prescribing the right medicine is to recognize the cause of the illness. And, when it comes to what is ailing the global economy, extreme monetary easing has been more cause than cure. The sooner we recognize that, the stronger and more sustainable the global economic recovery will be.
