The Unassuming Economist

From a paper by Panagiotis E. Petrakis, Giorgos Vasilis, and Anna-Maria Kanzola:

“This chapter explores major economic megatrends shaping the global economy, focusing on three transformative forces: persistent economic inequality, the rising global debt, and the shift in global economic power from the West to the East and South. It examines how historical developments, technological progress, globalization, and crises such as the 2008 financial collapse and the Covid-19 pandemic have contributed to growing inequalities. The chapter also analyzes the continuous increase in global debt, highlighting its implications for financial stability and long-term growth. Lastly, it discusses the rebalancing of global economic power, emphasizing the roles of emerging economies, particularly in Asia, and the challenges posed by a multipolar world. These trends are framed as critical for understanding the future trajectory of global economic and political dynamics.”