Get ready for a new economic era

By Paul Saffo

The mortgage-fueled market slide is leading the United States into much more than a recession—it is also ushering in a new economy. The consumer economy that was born in the 1950s is lurching to an end, and a new “creator economy” is emerging. This shift represents the third economic turning in just over a century. A look back at its antecedents reveals much about what to expect.

McKinsey: What Matters: Get ready for a new economic era

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