Read When the Money Runs Out: The End of Western Affluence by Stephen D. King Free Online
Book Title: When the Money Runs Out: The End of Western Affluence|
The author of the book: Stephen D. King
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Reader ratings: 4.7
Edition: Yale University Press
Date of issue: June 25th 2013
ISBN 13: 9780300190526
Format files: PDF
The size of the: 884 KB
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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.
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Read information about the authorStephen D. King is HSBC's group chief economist and the bank's global head of economics and asset allocation research.
He writes a weekly column for the London Independent and is a member of the European Central Bank Shadow Council and the Financial Times Economists' Forum.
He is a British national living in London.
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