Autumn perspective: the global economy till the mid teens

Abstract

Well into the second half of this decade, the world’s economy prospective appears troubled by depressing factors which point to minimal growth in the developed countries and a low dynamic for emerging and developing economies, behind the curve of the years before the crisis. Unemployment will remain at high levels, particularly among young workers and entrants, whose diminished expectations have brought the risk of a “lost generation”. The persistence of the Great Recession and its consequences have reinvigorated the policy debate around issues such as the need of countercyclical policies, adoption of active industrial and foreign exchange policies and a greater State involvement in crisis fighting. Within a framework of renewed social unrest and concern for the growing inequality, the debate encompasses wider social and political issues and the design of new paradigms.