Ajay Banga, Guest Columnist

How to Create Jobs for the World's 1.2 Billion New Workers

Lagos has a population of 17 million, and growing fast. 

Photographer: Pius Utomi Ekpei/AFP/Getty Images

The world moves on different wavelengths. Some are high-frequency shocks — wars, emerging technologies, market panics — that spike quickly and dominate our attention. Others are low-frequency forces that move slowly but relentlessly: demographics, globalization, water and food scarcity.

The high-frequency waves feel urgent. The low-frequency waves reshape the system.