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When the Money Runs Out: The End of Western Affluence

Stephen D. King

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ISBN 10: 0300205236 / ISBN 13: 9780300205237
Published by Yale University Press, 2014
New Condition: New Soft cover
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Title: When the Money Runs Out: The End of Western ...

Publisher: Yale University Press

Publication Date: 2014

Binding: Paperback

Book Condition:New

Edition: Reprint.

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Synopsis:

An esteemed economist warns that Western societies’ economic expectations for the future are about to collide with reality

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.

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.

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