The worst thing for the world economy would be to assume the worst is over

A FEW weeks ago, the British government’s chief scientific adviser, John Beddington, made a bloodcurdling speech about the horrors lying in wait for us. By 2030, he said, the world will be facing a perfect storm of food, energy and water shortages caused by population growth and exacerbated by climate change. James Lovelock, the creator of the Gaia theory, receives extensive, largely uncritical, coverage when he predicts that global warming will have wiped out 80% of humankind by the end of the century. In the meantime, we are living through what many people believe (and some hope) to be the final collapse of capitalism, while attempting with only limited success to fight a “global war on terror” against an enemy that threatens to destroy “our way of life”.

There is nothing new in society being gripped by anxiety about the present and pessimism about the future. In his latest book, Richard Overy, a distinguished British historian of the second world war, has turned his attention to the period between the wars when, he argues, the presentiment of impending disaster was even more deeply felt (and perhaps with better reason) than it is today. Indeed, Mr Overy sets out to show that it was a uniquely gloomy and fearful era, a morbid age that saw the future of civilization in terms of disease, decay and death.

In the above fragment The Economist is leading us to compare the Between-the-war Britain experiences with those of present crisis. It also suggests that we have worse.