Developing countries face collapsing international trade, falling remittances, sharp reversals of capital flows, and currency depreciation. Only bold policies—debt relief, international financing, planning, and more—will avert further catastrophe.

When we talk about generations, we tend to talk as if history has always been divided up into them. But the idea of distinct eras of cohorts each defined by some unique spirit is not timeless. The notion of a generation was borne of a conception of history as a machine of progress—a claim central to Enlightenment ideology