When the Money Runs Out by Stephen D. King
The End of Western Affluence

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A well-written book, mostly free of jargon...profoundly pessimistic.
-Kirkus

Synopsis

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.
 

About Stephen D. King

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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.
 
Published May 15, 2013 by Yale University Press. 299 pages
Genres: Business & Economics, History, Political & Social Sciences, Education & Reference. Non-fiction
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Critic reviews for When the Money Runs Out
All: 3 | Positive: 2 | Negative: 1

Kirkus

Good
on Apr 29 2013

A well-written book, mostly free of jargon...profoundly pessimistic.

Read Full Review of When the Money Runs Out: The ... | See more reviews from Kirkus

Financial Times

Above average
Reviewed by Ferdinando Giugliano on Jun 09 2013

...given the scale of the problem, the solutions it offers are excessively conventional.

Read Full Review of When the Money Runs Out: The ... | See more reviews from Financial Times

The Economist

Good
on May 11 2013

...his clear-eyed assessment of the problems ahead makes the book essential reading.

Read Full Review of When the Money Runs Out: The ... | See more reviews from The Economist

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75%

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