Oil, the economy’s central power source, is now insufficient for 3% economic growth
Great analysis by Swedish Professor on economy and oil – the long view. We ARE in changes times and that means there are opportunities to form our society how we want.
Last Monday in January on the “Report” news programme of Sweden’s most widely watched TV channel, SVT1, they discussed future economic outlooks and they stated that the economic growth prognoses from the Sweden’s National Institute of Economic Research over the past five years had been excessively optimistic. The Institute has been projecting future economic growth of approximately 3% per year. Every prognosis has proven incorrect and the Report programmer asked, “what will happen if there can no longer be rapid economic growth?” One answer is that it is the unemployed who will pay the price. Klas Eklund, senior economist at the Swedish bank SEB, stated his opinion that the forecasters at the National Institute of Economic Research had been far too optimistic and that most people now understand this.
Historically, economic downturns have always been followed by growth but Klas Eklund now believes that this coupling is no longer valid…
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