Don’t call it the D word

It’s not a depression. It’s not even a recession. It’s a restructuring. Just as a mismanaged company goes into Chapter 11 to restructure with the hope of coming out stronger, the world economy is doing the same. It’s critical that we stop this downward spiral of negative thinking and focus on the companies and people that are doing well. There are plenty of them all around you, just open your eyes. In the world’s poorest countries, millions of people are just as well off today as they were last year. In London, people are still buying the latest Ferraris and wasting them on running errands. Or Lamborghinis, as below. In recent years we passed a major milestone. Today, more than 50% of the world’s population are "middle class" for the first time in history. For Economist subscribers: www.economist.com/opinion/displaystory.cfm

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