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Name two or more global issues that will likely shape the development of macroeconomics in the twenty-first century

Economics Dec 14, 2020

Name two or more global issues that will likely shape the development of macroeconomics in the twenty-first century.

Expert Solution

Some global issues that will likely shape the development of macroeconomics in the twenty-first century are as follows :-

1. Climate change :-

Climate relared hazards can affect the economy as they deplete the human resources. Million of deaths occur due to climate change around the globe. Prevention of climate hazards makes use of a huge economic cost. Reduction in greenhouse gases can be a good move towards achieving a good climate. If the climate change is not seen as an issue it would degenerate the shape of global economy.

2. Poverty and Inequality :-

Poverty reduces the economic stability and leads to the depletion of a country's economy. Poverty eradication is still an issue even in the developed world. Poverty creates a less stable environment. Inequality is an issue which arises along with the poverty. People with higher income are generally considered as the upper class while the uneducated people are unable to earn and remain in the lower classess.

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