How The World Economy Will Collapse In The 21st Century

Dr. Michael LaitmanOpinion (Avinash Dixit, Professor of Economics at Princeton University): “The hurricane analogy seems especially apt as I write this; the winds buffeting the world economy, assisted and in some respects even caused by policy follies, have already produced a Great Recession, with fears of more to come…

“At least one prediction can be made with high confidence; think of it as the central path in the cone. On it, in the course of the next century there will be several financial and economic crises

“What about the extremes of the cone of uncertainty? United States and Europe are on the right edge. Dysfunctional politics and continued adverse demographic trends will trap these former economic giants into relative mediocrity in the world… From time to time they may enjoy a little growth, but much of the time their economies will stagnate while new dynamic economies of Asia, and parts of South America and Africa, grow faster. Europe and America will remain burdened by debt, both private and public, and suffer periodic bouts of inflation and currency crises…

“On the left edge of the cone of uncertainty we find China and India, whose inevitable and irresistible rise to world domination is being forecast so confidently today, in the early years of the 21st century. Regional and ethnic inequalities in each of these countries will explode into repeated civil conflicts. The police and armed forces needed to cope with this situation will take up large fractions of their governments’ resources, leaving little for productive social expenditures or public investments.”

My Comment: These are some tips and no solutions…

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