The first approximation in this future that we're looking at is that everyone will be physically well off. They will have a great abundance in material goods, and I think that will soften some of the conflicts we see now.
Sentiment: NEGATIVE
It is hard to say what the future holds, but this is probable - it won't be just like the past.
Ahead now, I think you'll see the big nations shrink back into their own corners of the world. I'm not saying we'll see no international trade, but it will be nothing like the conveyer belt from China to Wal-Mart that we've known the last few decades. And the prospects for conflict are very, very high.
I predict 2016 will be a year of upheaval and realignment across the world. China's economy will continue to sputter. Commodity exporting countries will suffer. Europe's growth will remain flat-lined. The U.S. will plug along at under 3% growth.
We are looking at a future where to a first approximation, everyone is wealthy.
I think there is a general unrest or curiosity about what a human future is going to be like, and whether the way we're living is even sustainable.
Low-cost, high-grade coal, oil and natural gas - the backbone of the Industrial Revolution - will be a distant memory by 2050. Much higher-cost remnants will still be available, but they will not be able to drive our growth, our population and, most critically, our food supply as before.
The future has already arrived. It's just not evenly distributed yet.
I don't know what the future may hold, but I know who holds the future.
I think and hope there are far more people aware of the need to look after our future.
We don't see very far in the future, we are very focused on one idea at a time, one problem at a time, and all these are incompatible with rationality as economic theory assumes it.