Debt-ridden and hidebound, Europe may be on the verge of a painful breakup. America is still reeling from the 2008 financial crisis. Even China and India — the new engines of global growth — seem to be sputtering these days. Worse yet, the usual wonkish prescriptions don’t seem to be working anymore. So we asked 13 of the smartest people we know to give us their one out-of-the-box idea for fixing the global economy. Here’s what they recommend.

1. Write off the World’s Debt

By Paul Kedrosky

2. Hire Everybody

By Diane Coyle

3. Get Better Data

By Paul Saffo

4. Cut Defense Spending

By Barney Frank

5. Whip Up Inflation, Now

By Menzie Chinn and Jeffry Frieden

6. Spend $1 Trillion on the Future

By Justin Yifu Lin

7. Raise the Minimum Wage. A Lot.

By James K. Galbraith

8. Think Small

By Vivek Wadhwa

9. Tame the World’s Crazy Currency System

By David M. Smick

10. Buy More Yachts

By Robert H. Frank

11. Get Healthy, Get Wealthy

By Esther Dyson

12. Build Green Cities

By Alex Steffen

13. Take a Vacation

By Daniel C. Dennett