This report by McKinsey & Company explores how economic outcomes and the relationship between individuals and institutions have shifted for workers, consumers, and savers in advanced economies.
Life has changed substantially for individuals in advanced economies in the first two decades of the 21st century as a result of trends including disruptions in technology. globalisation, the economic crisis of 2008 and its recovery, and shifting market and institutional dynamics.
In many ways, changes for individuals have been for the better, including new opportunities and overall economic growth - and the prospect of more to come as the century progresses, though developments in science, technology and innovation and productivity growth. Yet, the relatively positive perspective on the state of the economy, based on GDP job growth indicators, needs to be complemented with a fuller assessment of the economic outcomes for individuals as workers, consumers and savers.