But it would make sense for business and governments in the West to start acting as if that might be the case.
This slow-growth environment is confronting the West with all sorts of unwelcome questions.
But their numbers are shrinking, as the marginalised are going mainstream: the Pew Charitable Trusts reckons that nearly a third of Americans who, as teenagers in the 1970s, belonged to the middle class (in British terms, the working class and above) have slipped below.
Social-media sites let people rent out spare bedrooms, borrow tools and pass on outgrown childrens clothes.Jaideep Prabhu, of Cambridge Universitys Judge Business School, argues that companies therefore need to create separate brands for frugal products without damaging their main brands image among the better-off.How can governments look after the needy when their budgets are being squeezed?The first is to look to emerging markets for inspiration.Some already do: Renault is selling stripped-down, cheap-and-cheerful motors under its Dacia brand.Why look at the bottom of the pyramid when there are still millions of people in the middle?Many companies continue to aim their products at the middle classes.Conversion Sound plans to sell hearing aids for 50-200 rather than the 2,000-3,000 that is often charged: customers can test their hearing using apps on their smartphones rather than going to expensive audiologists.Bricks-and-mortar universities will argue that they provide the camaraderie and connections that online ones struggle to offer.Health-care companies will fight hard to defend the fat margins they get from Americas profligate system.The Khan Academy, a virtual university founded in 2008, does an impressive job of fulfilling its mission to provide a free world-class education to anyone anywhere.Procter Gamble has split its sales force into two groups, specialising in either high-income or low-income markets, the latter being paid to peddle a new range of cheaper products, such as Luvs diapers and Gain detergent.Multinationals are applying to rich countries the lessons learned from reaching customers in poor ones.The maker movement is radically reducing the cost of an astonishing range of products: enthusiasts are now producing do-it-yourself drones for just a few hundred dollars that can be used to help manage crops or monitor troublesome neighbours.The International Monetary Fund reckons that the rich worlds economies will together grow by a paltry.3 this year, down from.6 in 2011.In Britain David Cameron has praised Indias innovative spirit; and the National Endowment for Science, Technology and the Arts has produced a report on what Britain can learn from how India deals with scarcity.
Young entrepreneurs are being joined by big companies: this week Google began selling basic laptop computers to schools for just.The second answer is to adjust corporate policies to a world of stagnant wages and growing inequality.Britains government now says its fiscal squeeze will last until 2018.The shrinking but comfortable middle, there are plenty of reasons for Western business to resist the new gospel of frugality.Lean emerging-market firms are challenging Western ones in everything from white goods (Haier) to telecoms equipment (Huawei) to baked goods (Bimbo).It is vital offerte vodafone cellulare e internet that salespeople are given the incentives to promote these cheaper products, says Mr Prabhu.The euro zones situation is so dire that four countries (Cyprus, Greece, Poland and Portugal) have decided they cannot afford to take part in next years Eurovision Song Contest.THE age of austerity shows no signs of waning.
Revolution Foods is trying to wean young Americans off junk food by serving healthy school da vinci's demons season 1 episode 1 online free meals and providing advice on nutrition.
Policymakers are also looking immagini taglio capelli lunghi east.
Unilever has enjoyed success selling consumer goods in small portions to Indians whose grocery budgets could not stretch to Western-sized packets; now it is offering shrunken packs of detergent to cash-strapped Spaniards and modest packages of mashed potatoes to impoverished Greeks.
Americas is preparing to introduce tax rises and spending cuts.