A colleague used to say economic forecasting was designed to make astrology look good — after all didn’t economists predict nine of the past five recessions? Wisecracks aside, predicting the future is fraught with difficulty.

Yet it doesn’t seem too much of a stretch to suggest that we are on the cusp of a global post-pandemic boom. All of the rich economies are expected to post growth rates in 2021 unseen in decades. The IMF is predicting global growth of 5.2% in 2021. This has not happened since the boom times after World War 2...

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