History often seems to move in circles, and the idea that major global crises recur every century has gained new attention since the Covid-19 pandemic.
A striking coincidence stands out; the Spanish Flu of 1920 and the Covid-19 outbreak of 2020, both deadly pandemics that shook the world.
Now, economists and financial analysts are warning that another grim cycle might be repeating, this time not a pandemic but a potential global economic depression similar to the one that began in 1929.
For those unfamiliar, the Great Depression (1929–1939) was a decade-long economic catastrophe marked by mass unemployment, poverty, plummeting industrial output and the collapse of stock markets and banks worldwide. It reshaped societies and redefined economic policy for generations.
Fast-forward a century, and the warning signs seem eerily familiar. Analysts point to a mix of unsettling factors; the disruptive surge of artificial intelligence threatening millions of jobs, unstable global leadership, trade wars, tariff disputes, some nations challenging the dollar supremacy and growing inequality among nations.
Together, these forces could trigger a chain reaction of economic instability in the next 2-3 years.
Some experts even predict that by 2029, nearly 60 percent of the world’s workforce could face job displacement or unemployment due to automation and financial turmoil.
Stock markets could tumble to unprecedented lows and governments might struggle to stabilize economies already burdened by debt and political polarization.
If such predictions come true, this could be a depression even harsher and more prolonged than the one a hundred years ago, a shake-up capable of transforming the way people live, work and interact with technology.
Yet, history also reminds us that not all grim forecasts come true. The world has repeatedly proven its resilience.
Sometimes, what is feared most never happens like that of 2012 Doomsday, and what is not expected hits hardest, as Covid-19 did.
Whether this century repeats the horrors of the past or writes a different story, one thing is certain; the world must watch, learn and prepare with both caution and optimism.