The World Economy in 2033

Date Published:

Jul 1, 2010

Abstract:

The record of long-term forecasting, particularly by economists, is not a glorious one. In a celebrated article, the great English economist John Maynard Keynes, writing in 1930 about “the economic possibilities of our grandchildren,” forecast that in a century’s time the working week would be about 15 hours long, thus creating a serious challenge of how to use our extensive leisure. We have less than a quarter century to realize that result. The trends point in the right direction, but are substantially off in magnitude.

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