In 50 years, the world economy is likely to be thriving, with global GDP growing by as much as 20% per year, and income and consumption doubling every four years or so. The key to ensuring such an outcome is novel policies that support greater equality, sustainability, and creativity.
NEW YORK – The world is experiencing a slow-motion economic crisis – one that, most experts agree, will continue for the foreseeable future. The global economy has grown in fits and starts since the economic crisis of 2008 – one of the longest recorded stagnations of the modern era. In virtually all middle- and high-income countries, wages (as a share of GDP) have been steadily declining for nearly 40 years. But what about the next 50?
NEW YORK – The world is experiencing a slow-motion economic crisis – one that, most experts agree, will continue for the foreseeable future. The global economy has grown in fits and starts since the economic crisis of 2008 – one of the longest recorded stagnations of the modern era. In virtually all middle- and high-income countries, wages (as a share of GDP) have been steadily declining for nearly 40 years. But what about the next 50?