How bad will the recession be?
Many Happy Returns
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Is There a Generational Difference?
The standard of living for most people in the world has only started to increase over the last two centuries, when we saw that explosion of economic growth after the industrial revolution. I think at the moment, what we're seeing is pretty much levelling up. places like china are increasing incomes very rapidly, still, as they urbanize. And that's true of much of the emerging markets as well. So for example, india, you know, you see many more middle income households there now than, say, 30 years ago. Whereas in develope markets, you've got maybe a period of a decade when real wages haven't increased. and i don't think people in dm
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