I doubt whether many of the people who lived in various “golden ages” realized what was going on. I doubt that many proclaimed during the Renaissance “Hey, ain’t this era wunnerful?”

Good chance that many of them complained about progress that occurred all around them. Or about the changes that came with the progress. And the adjustments people had to make. That seems the case to me today.

Often I ask people how they feel the country is doing economically. Or how people around the world are doing.

Rarely does anyone express glee at what is going on. Mostly they complain. Not so much about themselves. Instead, they tell me our economy is rotten. They tell me the rich are getting richer around the world, while the poor suffer more than ever.

There are none so blind.

Economist David Hale proclaimed in an article in the Wall Street Journal recently that we live in the best global economy ever. Ever. He reckons the world economy is experiencing a level of growth unsurpassed in human history.

Think about the significance of that. While you are at it, two cents of support for economic growth. (Because some critics are against it.) The poor of India will never see their living standards rise unless there is economic growth in that country. Economic growth is good for the well being of people. No, not everyone becomes a millionaire. But even if they are on the dole all their life, the dole gets better when the economy does.

Back to “the best global economy ever.” Next year probably only four countries will suffer negative growth. All the rest will have growth in their output. Nearly 120 of them will have growth of 4 per cent or better. Many will have 7 to 10 per cent growth. If you dig into economic history you will find nothing as far reaching as this economic explosion we live in.

You will never find an era when such a high proportion of the earth’s peoples enjoyed a standard of living so much better than their parents did. You will never find an era when so many expected their own lives to improve within the next few years. Or an era when so many folks were lifted above the starvation - or near starvation - level.

If I taught economics I would remind students every day that the world ain’t never seen anything like this.