An aging population combined with a slowdown in emerging markets and pressure on the environment will lead to lower global growth and rising income inequality, a new OECD report warns.
PLACING economic value on environmental services might be politically incorrect for some environmentalists. That's like "commodifying" natural resources, as Bolivian President Evo Morales warned.
Economics as we know it today is broken. Unable to explain, to predict or to protect, it is need of root-and-branch replacement. Or, to borrow from Alan Greenspan, it is fundamentally "flawed".