Debate Part 1: Two views of the future
As Ross sees it…Ross argues we have every reason to be positive, considering the history of prosperity since the first industrial revolution. Scientific advances have generated wealth, which has provided education, which in turn has generated more scientific advances. Ross upholds this process will continue, despite an ageing population, ensuring continued growth for future generations.
As Fabrizio sees it…While Fabrizio agrees we have sustained continued growth over the past 300 years, he argues this has only occurred because of the three industrial revolutions experienced over this time and that before this, the economy was in a stagnant state without growth. Fabrizio is convinced we need a fourth industrial revolution for continued growth, but is concerned declining global conditions reduce the likelihood of this occurring. If we do see a fourth industrial revolution, Fabrizio maintains the next generation will still be in a very difficult position because of the significant disruption associated with it.
Your taskWatch part 1 of the debate between our Professors, then click on the comments link below to post your view. What do you see for the next generation?
Exploring Economics: Will the Next Generation Be Worse Off?
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