Are we heading into a new era of prosperity?

History suggests that there are essentially two types of economic expansions after recession: those that see GDP grow by 10 to 20 percent cumulatively in postcrisis years, and those that see 30 to 50 percent cumulative growth. Our latest research suggests that the global economy could be on the verge of the latter—a “40 percent” recovery that delivers sustained and equitable growth for several years.

Since 1950, the US economy has seen two kinds of expansion.

To read the article, see “Looking beyond the pandemic: Could the world economy gain more than it lost to COVID-19?,” June 14, 2021.