A new decade is fast approaching. While we can easily look back on the events of history, none of us know for certain what will happen in the next decade. Nevertheless, it might be interesting to speculate what the 2020s will hold.
On the global stage, the 2020s will likely see India surpass China in terms of population. I also predict a significant increase in the worldwide standard of living. To date, we’ve seen millions (if not billions) of people around the world lifted out of poverty through technological development and the free market.
ETSU economics professor Steven Efremov describes this change as “a pretty widespread eradication of poverty throughout the world” wherein “the poorest people have gone from having one pair of clothes and one pair of shoes to having a TV and an air conditioner.” The world in general will continue to achieve higher standards of living as technology continues developing.
Now coming closer to home, I see our country attaining a higher standard of living with a rapid increase in technological development, as it seems to normally stand on the forefront of the technological frontlines.
“The next cycle of innovation will perhaps be the most consequential of all time. Why?” asks Bijan Khosravi, founder and CEO of InBounce, Inc. “The pace of innovation is at an all-time high, and the technologies being released have broader impacts than at any time in history.”
At the same time, however, I see the federal debt continuing to mount, and I see value of our dollar continuing to decrease as inflation steadily rises.
I also see a greater political divide as those on the right will become committed to their traditional values while the left will become more progressive, especially on the issue of abortion. In general, though, I think I see a general increase in conservatism as more independents lean right. On the other hand, though, I think we will see a general trend of churches becoming more progressive.
Perhaps the most welcome prediction is that I don’t expect America to start any major wars in the new decade. As much of the world is enjoying a Pax Americana through our massive military budget, I think Americans themselves can also look forward to a decade of expending more of our energy and focus on advancing people’s quality of life than we do making weapons and fighting an enemy.
Whatever the next decade has in store, it’s going to result in a ripple wave that sees effects around the world for a long time. Let’s hope for the best and embrace whatever comes.
