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"Yes, years of stimulus and ultra-low interest rates have finally brought the global economy to a point of rising employment and stronger economic growth.
IMF and World Bank forecasts for global growth increased in January prompting a fresh wave of optimism. This revival in growth prospects is increasingly synchronized across advanced economies—notably in the US, EU, and Japan, and the leading developing countries, such as China, India, and Brazil. At a more granular level, many economies are seeing increases in capital investment and private consumption, as well as notable declines in unemployment.
Yet, 10 years after the crisis, the global economy faces six structural headwinds that, left unchecked, promise to derail economic progress and damage living standards in the years ahead."
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"Many will agree that a system of incentives is, and has been, the backbone of the success of the capitalist economic system. That over centuries, a network of incentives has driven innovation, which in turn has encouraged the inventiveness that has led to the unparalleled generation of ideas, goods, and services across America and the industrialized West.
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Given the evidence and importance of positive incentives, why, over the past 50 years, have policymakers embarked on a systematic and deliberate strategy of putting in place a catalogue of policies that dis-incentivise citizens from acting in a manner that could be beneficial to their economies, and the world at large?"
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