Economy

The West Looks Past Covid-19 and Sees Economic Resurgence

After the worst year for the global economy since the Great Depression, the West looks set for a vigorous rebound as mass vaccination against Covid-19 propels a return to more or less normal life.

The revival, though, will come in stages, as the timing and speed of recoveries in North America and Europe will depend largely on the pace and reach of vaccination, economists say. Economies in North America and Europe are expected to fire up as shops, restaurants and hotels throng with newly inoculated consumers armed with savings they amassed during the long pandemic. Moody’s Analytics estimates

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The economy needs the movie and fashion industries

Runway fashions, gleaming smiles, movie buzz. The 93rd Academy Awards, airing Sunday, will have the haute couture and stars du jour that we have come to expect, despite its modified format. Despite COVID, it’s okay to enjoy fashion and to celebrate the film industry. As long as you wear a mask and wash your hands, you can laugh and cry along with the winners and losers. (It’s an honor just to be nominated.)

Art and design are not just shallow pursuits — they help fuel the economy. According to the Motion Picture Association, “The film and television industry

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Climate Change Could Cut World Economy by $23 Trillion in 2050

WASHINGTON — Rising temperatures are likely to reduce global wealth significantly by 2050, as crop yields fall, disease spreads and rising seas consume coastal cities, a major insurance company warned Thursday, highlighting the consequences if the world fails to quickly slow the use of fossil fuels.

The effects of climate change can be expected to shave 11 percent to 14 percent off global economic output by 2050 compared with growth levels without climate change, according to a report from Swiss Re, one of the world’s largest providers of insurance to other insurance companies. That amounts to as much as

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History Offers Only Rough Guide to the Coming Economic Boom

The U.S. economy is poised to grow at its fastest pace in decades, carried along by a wave of pent-up demand built during the pandemic and the trillions of dollars of support the government has provided over the past year.

But what that boom will look like—how long it will last, what it might do for employment, how much inflation it might generate—isn’t clear. The grab bag of history doesn’t offer many periods in living memory when gross domestic product grew as quickly as forecasters expect for this year, and those past experiences came about when the composition of the

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