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Varcoe: 'Growth is possible' — a long-term economic aim amid chaotic upheaval today

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BANFF – When economists, business leaders and policymakers consider future cycles, they usually look out months and years, not centuries.

But the next 100 years could be one of growth and prosperity around the world — if steps are taken to embrace economic growth, boost investment and enhance productivity, says a prominent global strategy consultant.

“A future world that’s going to be abundant for everybody has to have a massively bigger economy,” Chris Bradley, co-author of the book A Century of Plenty, said at the opening of the Global Business Forum on Thursday.

“It doesn’t matter what metric you choose, GDP (growth) per capita is more good, and less bad. And when I talk to any politician or any government leader, I say, please . . . have one objective: GDP per capita. It’s the solution to everything.”

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Bradley’s speech examined a world that, by the end of this century, could provide a level of prosperity for everyone that only a few countries — think of Switzerland — can offer today.

The global economy would need to be 8.5 times larger to pull that off — averaging an annual growth rate of 2.6 per cent — but it is possible, even with potential limitations, said Bradley, a senior partner with McKinsey & Co., a global management consulting firm.

“We had enough materials (in the analysis). We had enough energy. We had enough food. We could do it in a way........

© Calgary Herald