Most experts think the global recession was caused by a collapse in demand -- and so, in good Keynesian fashion, they want governments to ramp up spending to compensate. But the West’s recent growth was dependent on borrowing. Going even further into debt now won’t help; instead, countries need to address the underlying flaws in their economies.

Unions underwrote the affluence of U.S. workers in the last century. They ensured that manual work paid white-collar wages and gave laborers a voice in politics. But now, unions are declining, and the working and middle classes are paying the price. Reviving labor won’t be easy -- but doing so is critical to preserving America’s economic and social health.

For too long, climate diplomacy has focused on carbon dioxide. But at least 40 percent of global warming can be blamed on shorter-lived pollutants, which also cause disease and damage crops in developing states. Reining in pollution would thus accomplish two goals, while finally getting countries such as China and India into the climate-change business.