1945-2008: The economic policy objectives for this period were reached, but these objectives have now changed

It can be considered that the economic policy objectives for the period from the Second World War until the 2008 crisis were reached : Vigorous growth, purchasing power growth in OECD countries; Income catch-up and declining poverty in emerging countries; Relative financial stability thanks to quite stringent fiscal and monetary policy rules. These objectives were reached thanks to the shift to free trade, technological progress and growing consumption of cheap energy. But some characteristics of this model for the period 1945 to 2008 are now being rejected, especially: The rising inequalities in OECD countries, which is the flipside of the falling poverty in emerging countries; The high energy consumption and the associated CO 2 emissions. This will make it necessary to completely change the economic policy objectives compared with those for the period 1945-2008. The following characteristics will probably have to change: The vigorous growth in OECD countries; The rapid catch-up of the OECD standard of living in emerging countries; The restrictive economic policy rules, in order to be able to issue massive debt at very low interest rates, to finance energy transition and to offset the slowdown in growth.