What happens when the world still has work – but not enough people to do it?
The Snapshot
By 2030, something strange had taken hold in the global economy.
It wasn’t a recession. It wasn’t a collapse. In many ways, it looked like prosperity: demand was strong, innovation surged, and open roles stretched across nearly every sector. But quietly, and then all at once, we ran into a different kind of scarcity:
In a new book by James Rickards, the author explores both the COVID-19 pandemic and its economic impact. A prolific writer, Economist, and adviser, Mr. Rickards predicts years of economic turbulence ahead. In The New Great Depression, Mr. Rickards sees the pandemic through an historical lens, where crisis presents a gateway between one world and the next. With an eye towards history, he concludes that the Keynes practical definition of a depression fits, and we are now in a new depression that is more far reaching than a mere technical recession. Along the way, the author wades into controversial topics such as China’s role in spreading the virus and the lockdown that ensued (which he calls the biggest policy blunder ever).