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Looking backwards in order to peer forwards

In: A History of the Global Economy

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Abstract

This chapter considers the ability of history to help resolve present problems and anticipate future opportunities and risks. It starts with an approach which anticipates the global future by extrapolating past trends and past behaviour. Human innovativeness makes it possible for humans to successfully improvise solutions to confronting problems. The chapter sets out as possible options, a best-case scenario and a worst-case scenario for the future. At the core of the chapter is an evaluation of the mechanisms which have driven economic movement in the past, in particular noting the change in demographics, with a peaking of global population in the foreseeable future. It reviews the various types of pessimism about future possibilities, from economic stagnation to environmental damage. It concludes by considering the lessons of history and the political problems of gaining the cooperation needed to solve many global difficulties, including climate change.

Suggested Citation

  • ., 2018. "Looking backwards in order to peer forwards," Chapters, in: A History of the Global Economy, chapter 24, pages 435-458, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:18481_24
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    File URL: https://www.elgaronline.com/view/9781788971973.00036.xml
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    Cited by:

    1. Arndt, Aaron D. & Evans, Kenneth R. & Zahedi, Ziniya & Khan, Emmyrose, 2019. "Competent or threatening? When looking like a “salesperson†is disadvantageous," Journal of Retailing and Consumer Services, Elsevier, vol. 47(C), pages 166-176.
    2. Helkkula, Anu & Arnould, Eric J., 2022. "Using neo-animism to revisit actors for Sustainable Development Goals (SDGs) in S-D logic," Journal of Business Research, Elsevier, vol. 149(C), pages 860-868.
    3. Md. Ali Rasel & Sandar Win, 2020. "Microfinance governance: a systematic review and future research directions," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 47(7), pages 1811-1847, April.

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    Keywords

    Development Studies; Economics and Finance;

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