An Economist’s Guide to the World in 2050
Bloomberg Economics has used a growth accounting framework—adding up the contributions of labor, capital and productivity—to forecast potential GDP through 2050 for 39 countries, from the U.S. to Ghana. We’ve used that data to map some of the key geographic and political shifts in store for the world economy.Much could happen to throw our projections off track.
The Covid crisis is demonstrating how pandemics can reconfigure the global economic map. Wars, natural disasters and financial meltdowns can do the same. So could policy choices on globalization and climate change. Still, absent a crystal ball, forecasts of potential growth provide the most reliable basis for thinking about the long term.