When the Money Runs Out

When the Money Runs Out

The End of Western Affluence

Book - 2013
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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 a 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 achievable only 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.
Publisher: New Haven :, Yale University Press,, [2013]
Copyright Date: ©2013
ISBN: 9780300190526
Branch Call Number: 339.2094 KIN
Characteristics: x, 287 pages ; 25 cm

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capitalcity
Apr 21, 2016

Essentially non-contentious, meaningless fluff, masquerading as insight into the state of the global economy. The net result is a vacuous exercise yielding historical anecdotes of peripheral relevance. The author cites passing reference to the financial house of cards, that we all inhabit, courtesy of the Keynesian psychopaths running the world's central banks. At the end of the day we are all expected to conclude that everyone is responsible for the quagmire (except Wall Street, which has a Get Out of Jail Free card). How constructively satisfying.

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