Almost three years since the financial crisis upended the global economy, it still seems possible that the Great Recession will define this century, just as the Great Depression defined the previous one. For billions of people, it seemed for a long time that there truly was no way out. Day after day, markets plunged and pink slips flooded forth. Across continents, dreams of a secure future and a comfortable retirement evaporated overnight.
Lately, however, hopes for Recovery have replaced the darkest fears of Recession. Paths have begun to appear out of the deep wilderness of despair. So in our Spring issue, we thought it would be a good time to explore some of these paths—the green shoots that could be leading much of the world to a promising future, while at the same time exploring some cautionary tales. How fragile is our recovery? How vulnerable is it to new...