Conclusions

Economic progress involves economic disruption, and there has always been an inherent and unavoidable trade-off between the benefits of growth, on the one hand, and the cost of adjustment, on the other. Today is no exception. The expansion of the global economy – spurred by technological advances and market opening – is enhancing the welfare and improving the living conditions of billions of people around the world. But it is also resulting in economic change, displacement and disruption – creating enormous pressure for individuals and societies to adjust and adapt if they are to keep up with, and share in the benefits of, economic progress.