17 reasons growth is about to soar
The past year has been terrible on nearly every level, but itâs easy to see the potential for the economy to burst out of the gate like an Olympic sprinter.
Neil Irwin
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The 21st-century economy has been a two-decade series of punches in the gut.
The century began in economic triumphalism in the US, with a sense that business cycles had been vanquished and prosperity secured for a blindingly bright future. Instead, a mild recession was followed by a weak recovery followed by a financial crisis followed by another weak recovery followed by a pandemic-induced collapse. A couple of good years right before the pandemic aside, it has been two decades of overwhelming inequality and underwhelming growth â an economy in which a persistently weak job market has left vast human potential untapped, helping fuel social and political dysfunction.
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The 21st-century economy has been a two-decade series of punches in the gut.
The century began in economic triumphalism in the United States, with a sense that business cycles had been vanquished and prosperity secured for a blindingly bright future. Instead, a mild recession was followed by a weak recovery followed by a financial crisis followed by another weak recovery followed by a pandemic-induced collapse. A couple of good years right before the pandemic aside, it has been two decades of overwhelming inequality and underwhelming growth an economy in which a persistently weak job market has left vast human potential untapped, helping fuel social and political dysfunction.
Roaring 2020s? Here s The Post Pandemic Best-Case Scenario
Could the 2020s be an era of prosperity? The pandemic has paved the way for digital, biological, and ecological revolutions.
PARIS Within 18 or maybe 20 deadly months, we will all finally be vaccinated. We will want to live like never before. The holidays will be beautiful, the skies will be clear, and artists will be celebrated once more, just like a century ago, in the 1920s, the years nicknamed crazy in France, roaring in England, and golden in Germany.
It may be easier to imagine bleak scenarios. Perhaps by mutating, the coronavirus will escape the vaccines that have already been developed. Perhaps our fragile society will be torn apart, or even collapse. Maybe, by rejecting business as usual many companies will go bankrupt and others will be unable to invest in the future. Even worse, maybe banks and governments will run out of money, triggering a severe financial crisis.