Research into these issues is already uncovering many policy solutions that could lead to resilient, inclusive, sustainable societies. There is the circular economy, for instance, where the full life-cycle cost of goods and materials is factored into prices, and where the by-products and waste from one process become the feedstocks for others.¹ Sustainable economic policies must also deal with the externalities of climate change, which lead to forced migration, with all kinds of consequences on the societies at the journey's origin and the destination, and problems for agriculture through altered environmental conditions. Our societies also have to solve issues of globalisation, automation and employment before they cause significant economic changes that can lead to social unrest. Many of the required economic models and measures have been invented but are yet to be implemented.

KEY TAKEAWAYS

Our understanding of how economic policy and strategies will need to evolve in the 21^st century will play a significant role in determining the trajectory of human experience. A key task is Managing climate externalities. The consequences of traditional economic models include potentially catastrophic global temperature rises, and it is important that these be mitigated as far as is possible. Also arising from technological progress is the issue of Automation and work: economists and policy-makers are now faced with difficult decisions regarding how far technologies such as AI should be allowed to shape the workplace. Sustainable economics will benefit from Bootstrapping circular economies, which will reduce resource consumption. There is optimism that these measures can all contribute to an era of Sustainable global trade, where the green economy and resilient supply chains offer a chance to develop an economics that contributes to establishing equitable global prosperity while still affirming and improving the lot of individuals, societies and ecosystems.