August 24, 2008
A prestigious American think tank told us recently that 66% of humanity lives in high income or high growth countries; up from 25% thirty years ago. A very powerful statistic.
Since 1982, the world has experienced a twenty-five-year, long wave of economic growth, overlaid by only two cyclical investment recessions; 1989-1990 and 2000-2003.
This extended period of high growth and low inflation has brought prosperity on an unprecedented scale. Growth has risen the world over in a long linear trajectory.