How will the global economy recover from the Covid-19 shock? Most observers wish for a rapid and sustained recovery and expansion. However, this wish is unlikely to be granted. Prior to the pandemic, the global economy had ‘preconditions’ implying that it was already on an unsustainable path. While stocks of debt and greenhouse gases were rising continuously, towards ever more dangerous levels, the stocks of trust and political good will needed to achieve sustainable policy solutions were falling equally alarmingly. Growing economic and social disparities contributed materially to rising political tensions. Moreover, ... (full story)