What advanced countries need is clarity of intent, an appropriate calibration of fiscal targets, and adequate structural reforms. With a little help from monetary policy, and from their (emerging market) friends.
Two entrepreneurs are bringing renewable energy and microfinance together with Energy In Common, a new venture to deliver clean energy to 15 million people in the developing world, all the while building empowerment through microloans.
Society as a whole has an interest in providing the patient capital needed to realize investments in innovation and development. So far, governments have only done so indirectly. Yet a new mechanism could offer a more fruitful way.