When the Money Runs Out: The End of Western Affluence

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9780300197952: When the Money Runs Out: The End of Western Affluence

The Western world has experienced extraordinary economic progress throughout the last six decades, a prosperous period so extended that continuous economic growth has come to seem normal. But such an era of continuously rising living standards is an historical anomaly, economist Stephen D. King warns, and the current stagnation of Western economies threatens to reach crisis proportions in the not-so-distant future. Praised for the "dose of realism" he provided in his book Losing Control, King follows up in this volume with a plain-spoken assessment of where the West stands today. It's not just the end of an age of affluence, he shows. We have made promises to ourselves that are only achievable through ongoing economic expansion. The future benefits we expect - pensions, healthcare, and social security, for example - may be larger than tomorrow's resources. And if we reach that point, which promises will be broken and who will lose out? The lessons of history offer compelling evidence that political and social upheaval are often born of economic stagnation. King addresses these lessons with a multifaceted plan that involves painful - but necessary - steps toward a stable and just economic future.

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Book Description:

An eminent economist warns that Western nations’ economic expectations for the future are way out of sync with the realities of economic stagnation, and stringent steps will be required to avoid massive political and economic upheaval.

About the Author:

Stephen D. King is Group Chief Economist and Global Head of Economics and Asset Allocation research at HSBC. He is a member of the UK government's Asia Task Force and writes regularly for the Financial Times and The Times. He lives in London.

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Descrizione libro 2013. Paperback. Condizione libro: New. Paperback. The Western world has experienced extraordinary economic progress throughout the last six decades, a prosperous period so extended that continuous economic growth has come to seem normal. .Shipping may be from multiple locations in the US or from the UK, depending on stock availability. 304 pages. 0.482. Codice libro della libreria 9780300197952

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Descrizione libro Yale University Press, United States, 2013. Paperback. Condizione libro: New. Export ed. Brand New Book. The Western world has experienced extraordinary economic progress throughout the last six decades, a prosperous period so extended that continuous economic growth has come to seem normal. But such an era of continuously rising living standards is an historical anomaly, economist Stephen D. King warns, and the current stagnation of Western economies threatens to reach crisis proportions in the not-so-distant future. Praised for the dose of realism he provided in his book Losing Control, King follows up in this volume with a plain-spoken assessment of where the West stands today. It s not just the end of an age of affluence, he shows. We have made promises to ourselves that are only achievable through ongoing economic expansion. The future benefits we expect - pensions, healthcare, and social security, for example - may be larger than tomorrow s resources. And if we reach that point, which promises will be broken and who will lose out? The lessons of history offer compelling evidence that political and social upheaval are often born of economic stagnation. King addresses these lessons with a multifaceted plan that involves painful - but necessary - steps toward a stable and just economic future. Codice libro della libreria LVN9780300197952

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Descrizione libro 2013. Paperback. Condizione libro: New. Paperback. The Western world has experienced extraordinary economic progress throughout the last six decades, a prosperous period so extended that continuous economic growth has come to .Shipping may be from our Sydney, NSW warehouse or from our UK or US warehouse, depending on stock availability. 304 pages. 0.482. Codice libro della libreria 9780300197952

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