Does Growth Have a Future?

By Michael Spence
24 June 2009 @ 03:06 pm EDT

What can we expect as the world's economy emerges from its most serious downturn in almost a century? The short answer is a “new normal,” with slower growth, a de-risked and more stable core financial system, and a set of additional challenges (energy, climate, and demographic imbalances, to name a few) with varying time horizons that will test our collective capacity to improve management and oversight of the global economy.

Copyright Project Syndicate, Reprinted with permission.

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