In 100 Years: Leading Economists Predict the Future (Ignacio Palacios-Huerta, 2013)

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  • Predictions
    • America lose its democracy
    • China grow out of proportion
    • Disruption from technology
    • Future generations will have lesser growth
    • Rich-poor gap will continue to widen
    • Skills will be highly segmented
    • A health revolution
    • More vibrant globalisation
    • More peace, less war
    • More influence from religion in politics
    • Much more pollution
    • More usage and higher efficiency when tapping on solar power
    • Capital cannot substitute for labour that easily
    • Changes in nature of new technology
    • Changes of industry compositions
    • Changes in the amount and distribution of monopoly
    • Decay of unionism
    • The balance of political power
  • If you owe the bank 1 trillion, you are in the bank’s power, but if you owe the bank 1 quintillion, the bank is in your power
  • The basic economics of self-protection suggests that individuals will find it desirable to spend more on protection when they have more to lose
  • Baumol-Bowen effect: the rise of salaries in jobs that have experienced no or low increase of labor productivity, in response to rising salaries in other jobs that have experienced higher labor productivity growth.
  • Tiebout hypothesis: competition across local jurisdictions places competitive pressures on the provision of local public goods such that these local governments are able to provide the optimal level of public goods.
  • Anthropocene: a proposed geological epoch dating from the commencement of significant human impact on Earth's geology and ecosystems, including, but not limited to, anthropogenic climate change


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