Headline June1,2012/Your World in 2020

YOUR WORLD IN 2020

Respectful dedication Dr Patrick Prendergast/Trinity College Dublin

So let me get to the hop, skip and jump mode: by 2020 ; in terms of living standards, it is likely that the real income per head will be slightly higher in Britain than in France, Germany and Italy. The trend towards the global market economy will continue for even the next quarter century.

By 2020, the responsibilities of the public sector would have shrunk. Possibly to the core role encompassing defense, criminal justice and some public safety services.

The State will continue to play a role in education, and health but vast tranches  will have been “de nationalized” or privatized. By 2020 there will be far more private security guards than regular policemen, private arbitration in civil cases will be common, the post office will either have been privatised or superseded by commercial courier services. And the transport infrastructure will include private toll motorways and commercial railways.

The US increasingly will show many features of a developing economy with pockets of third world poverty among areas that will continue to be among the riches on the globe. It is very probable that an American middle class family will only be slightly better off than in late 70s and , as whole, US families will be no richer than their Japanese counterparts, a situation that hasn’t existed for a hundred years. 

Corporate Foreign  Investment will continue to internationalise the economy, transferring capital and skills around the world. One projection suggests that overseas investments b companies maybe as high as $800 billion by 2020, a growth of over 400% from 1989 when it was estimated at 200 billion annually.

It is also my estimate that by 2020, the world will be divided into three strong economic regions. North America, Europe and East Asia. Latin America, Africa and Middle East, apart from the oil fields, and the Indian sub continent will remain economically well, marginal.

In most industrial countries the retirement age will have risen to 70 or even later. There will be more women working ; there will be more part time work, and there will be more retraining during a career to keep pace with technological changes. Well now you know the future so get armed!! Haha!

Thanks to !WOW!

Good night and God bless!

SAM Daily Times the Voice of the Voiceless!