Most importantly perhaps, Mr Bersani would scrap the rules setting a minimum distance between rival businesses that limit competition in much of the retail sector.

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"Having property developers turn to trusts should act as a limit on overheating of the real-estate sector simply because the higher cost of capital leaves them with less options, " said Mr. Gleave.

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Later, speaking at the same conference, Trade Minister Anand Sharma said he would push for increasing the limit of foreign direct investment in the defense sector to 49% from the current 26%.

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That should limit the impact of the rate rise on the manufacturing sector, which normally borrows cash for longer periods of time, while taking some steam out of consumer spending.

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Similarly, trying to contain the oil and limit the environmental impact is also complex, involving multiple technologies, the coordination of public agencies and private sector firms, and the mobilization of huge amounts of equipment and people.

FORBES: Let's Not Compound Complexity