Beyond the meltdown

20 Dec 11
The current financial crisis is just the start of the problems facing Western economies. ‘Normal’ levels of GDP growth might never return, as a result of climate change, an ageing population, depleted national resources and competition from Asia
By Malcolm Prowle and Roger Latham | 1 January 2012

The current financial crisis is just the start of the problems facing Western economies. ‘Normal’ levels of GDP growth might never return, as a result of climate change, an ageing population, depleted national resources and competition from Asia

Beyond the Meltdown Shutterstock

It is human nature to react quickly to crises while ­neglecting longer-term but potentially more ­catastrophic issues. This is certainly the case today across the world, as governments faced with debts and economic stagnation focus almost entirely on getting their economies moving and their borrowing levels down. In the meantime, the crises of the future, caused by major demographic changes, societal changes and costly technological advances in health care, are slowly building up.
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