Over the past year, we’ve been discussing how the current depression might end. Two distinct scenarios have emerged as the likely candidates – a slow return to work for everyone as small companies complete a transition to a new economy and a collapse of the world’s economic system. Which will it be?
There is plenty of evidence for both. The decline in people of working age in the developed world (and soon the developing!) points to more opportunity and higher wages once everything evens out – something like a golden age. But the recent World Economic Forum and ongoing trauma in Europe highlight the obvious weakness at the top, starting with leadership.
The best answer for crystal ball readers is an obvious one – both might happen simultaneously. That’s not a punt, it’s a statement of deep belief that, in the long run, the Free Market is probably going to work.