The economy has stopped functioning as the emotional metronome of world affairs. Global output has improved over recent years, and the recovery continues at a strong pace in all the major economies ten years after the financial crisis began. Business and consumer sentiment is robust.
Still, the mood will be rather gloomy again this year in Davos, the Swiss resort where 2,500 leaders from business and politics, including 70 heads of state and government, will meet next week (23-26 January).
Over the last couple of years, the elite was concerned about the potential risks emerging from the ongoing digital revolution and the flaws of globalisation.
Both phenomena are weighing on the equality between nations and within nations.