Two Views of Our Future
JUNE 29, 2012
Relying heavily on economic data to measure progress, they see the near 10-fold growth in the world economy since 1950 and the associated gains in living standards as the crowning achievement of our modern civilization. A century ago, annual growth in the world economy was measured in the billions of dollars. Projections of economic growth, whether by the World Bank, Goldman Sachs, or Deutsche Bank, typically show the global economy expanding by roughly 3 percent a year.