Hmmm, to play the what if game…
Okay.
First two decades stagflation as we have it will probably persist as a given, but in terms of long term investments in space and nanotech, this won’t matter. These two fields will continue to grow by leaps and bounds to the point that the space industries themselves will eclipse all publicly funded space ventures (I expect NASA to become possibly a fully private company by 2030, abouts.). Nanotech will become a fabrication industry by the mid-2020s, leading to their applications in electronics and then medicine (particularly in drug manufacturing). This will lead to a significant price drop in each industry it’s applied to respectively.
Also, I expect by the 2040s that space travel will be pennies per pound to lift not from any magical breakthrough, but from scale of economy as applied to rocketry, making it possible to offset the single cost of a rocket launch (as these will have backup rockets ready to go, one after another). About the same time, probably in the 2030s, I expect electronics to have universal circuitry, that is to mean that all circuits will be designed from a single base logic circuit (like a NAND gate or something like it) which will be reprogramable, thus allowing for what is known today as “morphware”, thus the idea of software and hardware as being two separate entities will cease to exist at least from an engineering point of view. This will also lead to further realizations in AI theory, where swarming will lead to AIs that will have learning capacities akin to a well trained dog or horse; thus freeing up many people from laborious jobs like manufacturing, textiles, warehousing/inventory, and many other similar ‘light’ industrial jobs.
What will this all mean for people that will live it? Two things. First, the very idea of nationality will become more meaningless than it is today. Even though today all business is international in some factor, I believe all business will be literally international in all factors as nanofabrication will make manufacturing smaller and less land intensive. Factories of the 2040s and beyond will be probably as small as a commercial warehouse or datacentre, which means just about any landlocked country or island can now participate in manufacturing of some goods without the significant environmental impact. So, I expect people in some cases to have several citizenships and many nations won’t get in the way or possibly they will even pass laws to make this easier to do (either to swap citizenships or something akin to same-day guest worker programmes).
Second, expect governments to shrink in their current roles of infrastructure and military and grow in areas of welfare and social programmes (aka education, arts, and etc) as ideas will have more impact than who has the most oil or guns. More or less government intrusion will about the same as it is today, but their focus will change to adapt the currently growing reality of the liquid nature of information (and how porous borders are in reality). This means that the basic ideas of social democracy will persist in modified forms, but will be neutered by the fact that people will have the means to move to a country that better fits their wishes.
Anyways, all of this is ASSumptions, so I can’t say it’s truth by any stretch of the imagination.