The new world will be very expensive

Inflation is likely to be high and so prices significantly higher than in the past in the economies of the future , due to : Various scarcities: metals, energy, food, water, transport, etc.; The energy transition (excessively rapid fall in the supply of fossil fuels, very strong demand for certain metals ); Population ageing, which will exacerbate the hiring difficulties already caused by changing attitudes in labour markets; Industrial reshoring (leading to higher production costs and less use of comparative advantages ); A higher cost of capital due to rising interest rates. Purchasing power problems and the need for central banks to combat inflation are therefore likely to be permanent and not transitory.