Final answer:
The global economy has achieved considerable success in the last 60 years, with long-run economic growth, increased GDP per capita, and improved economic freedom.
Step-by-step explanation:
In the past 60 years, the global economy has achieved significant success, with notable advancements in economic growth and the expansion of economic freedom for a majority of the world's population. Since the early nineteenth century, there has been an impressive long-run economic growth, particularly in Western Europe and North America. This trend has continued, with economies such as Japan, South Korea, and China demonstrating remarkable catch-up potential in the last half-century.
The Industrial Revolution played a critical role in fostering what is known as modern economic growth, enhancing worker productivity, and boosting trade. As a result, the global GDP per capita expanded at an average rate of about 2% per year. Furthermore, the real production of goods and services in the U.S. alone has increased nearly fivefold since 1960. However, this figure does not fully represent the qualitative improvements and the introduction of new products that have also benefited the global population.