2006 and beyond

The Skeptical Optmist cites a beguiling Paul Romer quote.

"If we can make the choices that increase the rate of growth of real income per person to 2.3 percent per year, in fifty years we can get extra income per person equal to what in 1984 it taken us all of human history to achieve. "

The related big story of the year (easily corroborated by hopscotching around economists' blogs) is productivity growth. Add Pete Boettke's discussion of the robustness of markets and we can meet Romer's fifty-year mark -- or better.

The jokers in the deck are the possibility of bizarre events abroad (or from abroad) and/or bizarre policy choices at home. In fact, these may not be independent events.

The good news, however, remain under the radar. Consider the really big news stories of 2005 as compiled by the BBC.