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Economics
As humanity welcomes the new century, economics as a science and as a subject continues to be central to concerns around the globe. The twentieth century witnessed a spectacular change in the liv ing standards of most of the world, particu larly those in the affluent countries of North America, Western Europe, and East Asia. While the first half of the century was marked by two world wars and one great depression, the last half has been one of virtually uninterrupted growth of living stan dards and the spread of free markets, democracy, and personal freedoms to many corners of the globe. The central question for the years ahead is, "Will the good fortune spread from the affluent minority to the poor majority?"
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