Within the single-currency area competitiveness has to be regained the hard way by pushing down domestic costs or increasing productivity rather than the easier-to-swallow medicine of devaluation.

ECONOMIST: The threat of a Greek exit: Unhappy in their own ways | The

This suggests that, rather than pushing companies to explore some new area which the government in its wisdom or folly has decided is the sector of the future, industrial policy should encourage competition instead, thus reducing firms' tendency to seek out less contested arenas.

ECONOMIST: Economics focus

It is dissatisfaction with the ability of today's phones to carry targeted advertising--rather than a thirst for software-licensing revenues or desire to build cool gadgets--that is pushing Google to take on the mobile-phone market, industry sources say.

FORBES: Will Google Crush The iPhone?