The Change of Pace in the Economy

The economy is apparently changing reasonably quickly as each new set of statistics shows a small improvement on the last set of economic statistics, but we must be careful not to confuse the pace of change with a change of pace. An economic improvement which leads to the wealthier becoming wealthier and the poor becoming poorer is an economic change but it is not one for the better. An economic change which leads to the wealthier becoming poorer because the wealth has been taken from them and given to the poor, who thus become marginally less poor, is not an improvement, It is simply a change which will lead to the wealthier becoming the poor and a small number of the poor becoming very wealthy; we have seen this happen after the Russian Revolution and again after the fall of communism in Eastern Europe.

I rather suspect that world economies are changing their pace, rather than changing. As the change of pace carries on, the environment will become less comfortable to those that have to live in it and cannot insulate their lives from it because they do not have sufficient wealth. With wealth you can do almost anything but even the wealthy do not want to do almost anything, preferring to shroud themselves in comfort and surround themselves with toys.

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