World Economy Like a Patient on Experimental Drugs, Says Tooze
The world is like a patient on experimental drugs, says Thomas Picketty.
The analogy of the economy as an organism with its parts being countries and people who live there has been used to describe what’s happening within it at present time in history; when everybody seems stuck yet we know that change must come eventually due by unknown forces outside our control–such force leads me believe this metaphorically speaking then financially speaking too: “You want some heroin? It’ll make you happy.”
The world economy is like an experimental drug that has not yet been perfected, says Oxford University academic W. TIMOTHY TOZER in his new book “The Great Rebalancing”. The author believes we are currently on the cusp of a five hundred year cycle where technological innovation will produce many advancements but also significant side effects due to our inherent limits as humans: poverty still exists even though it should have disappeared by now; climate change continues apace despite efforts at mitigation or adaptation