The Global Economy in 2067
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.
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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?