The soaring twenties

TWO DECADES AGO, people around the world rang in the new millennium with a growing sense of optimism. The threat posed by the Cold War was fading slowly in the rearview mirror. Leading thinkers like Francis Fukuyama touted the benefits of globalization, saying it would bring democracy and prosperity to the developing world. The nascent Internet economy promised to bring us closer together.

The following 20 years took some of the air out of the assumption of steady progress, but when future historians assess the 21st century, the year 2020 is likely to serve as the point at which the optimism bubble burst. The COVID-19 pandemic has exposed a complex web of interlocking problems that have morphed into full-blown crises. The coronavirus laid bare the dangers of endemic poverty not only in the developing world but also in rich countries like the U.S., where millions lack health care and are one paycheck away from living on the street. Around the world, racial and ethnic minorities have demanded justice after centuries of structural discrimination. Woven through it all, the earth’s climate is increasingly unstable, posing an existential threat to human society as we know it. In the next decade, societies will be forced to either confront this snarl of challenges, or be overwhelmed by them. Our response will define the future for decades to