The global economy spawned by the Fourth Industrial Revolution has created opportunities for many, yet it has also displaced those unprepared to navigate its new contours. Economist Saadia Zahidi highlights four urgent challenges leaders around the world face in handling a 21st-century economy. She notes that retraining the displaced and ensuring a basic social safety net are critical issues that need urgent attention before it is too late. This concise but illuminating article offers much food for thought to executives, analysts and policy experts.
In this summary, you will learn
- Why the 21st-century economy, forged by the convergence of globalization and the Fourth Industrial Revolution, has engendered a populist backlash;
- What four challenges the new economy presents to public policy; and
- What initiatives could address those issues and restore economic security.
About the Author
Saadia Zahidi leads the Centre for the New Economy and Society at the World Economic Forum.