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The Great Race

For economic supremacy in the 21st century

macronomics Founder & Chief Economist, Graeme Leach, will publish a new book in 2020: The GREAT RACE: for economic supremacy in the 21st century.


The GREAT RACE will be between the amazing potential of technology and the awesome challenges of demography and an ageing population.

The GREAT RACE is the story of the future of the global economy and the likely winners and losers in the battle for economic supremacy. It's a serious attempt to describe the economic history of the 2020s before it happens.


This will be a titanic clash to maximise the benefits of technology and minimise the costs of demography, and success or failure will largely be determined by the amount of economic freedom economies enjoy.

In contrast to the economic talk of the town at present, which is all about weak productivity growth and secular stagnation, The GREAT RACE suggests we are on the cusp of a technological revolution with accelerating growth.

The impact of technology and demographics will differ across economies, but one thing they will all share is the ability to make the race harder or easier, with more or less statism and protectionism. Economic success and freedom also requires more competition in the private sector. The Great Race describes the need for enabling government and hyper-competition.