Economic Outlook

Sustainable development is a way of understanding the world as a connection between the economy, society, the environment, and politics.

It is also a way of thinking about what is right and fair. It helps us decide what a good society should look like one that supports well-being today and also protects the future for the next generations.

If you ask economic policymakers in almost any country about the country’s main economic goal, they will usually say “economic growth.”

When GDP per person increases, quality of life usually improves too. Countries with higher GDP per person are generally richer and often have better living conditions. Richer countries usually have:

  • higher incomes and consumption,
  • better food security,
  • longer life expectancy,
  • better protection from diseases and natural disasters,
  • lower chances of violence and war.

People in richer societies also tend to say they are more satisfied with their lives.

By the early 2040s, the world population is expected to reach about 9 billion.

Many will still struggle to get basic needs like enough food, clean water, health care, and safe housing. Others will try to improve their lives and create better opportunities for their children. Wealthier societies will continue looking to new technology to improve quality of life.

In today’s world, good governance is not only about governments. Big tech companies are also very powerful. Our well-being depends on these companies following the law, protecting the environment, and supporting the communities where they work, especially by helping reduce extreme poverty.

We also think about how governments work.

Good government and fair laws help societies feel safe and stable. However, corruption, crime, dishonest politicians, unfair public services, discrimination, and secret deals can make societies unhappy. Studies around the world show that trust in government is strongly connected to happiness and social stability. Sadly, many citizens do not trust their governments to be honest, fair, or able to keep them safe, and they often have good reasons for this distrust.

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