Suchergebnisse

Cover -- Halftitle page -- Title page -- Copyright page -- Dedication -- Contents -- Figures and Tables -- Acknowledgements -- Preface: The Journey from Deflation to Inflation -- 1 The Resurrection of Inflation -- 2 A History of Inflation, Money and Ideas -- 3 The Inflationary Role of Governments -- 4 The Case for Resisting Inflationary Temptations -- 5 How to Get Rid of Inflation . . . and How Not To -- 6 Four Inflationary Tests -- 7 Lessons, Warnings and Possible Next Steps -- Notes -- Bibliography -- INDEX.

A myth-busting explanation of inflation, the desperate gullibility of central bankers and finance ministers--and our abject failure to learn from history From investors and monetary authorities to governments and policy makers, almost everyone had assumed inflation was dead and buried. But now people the world over are confronting a poisonous new economic reality and, with it, the prospect of vast and increasing wealth inequality. How have we arrived in this situation? And what, if anything, can we do about it? Celebrated economist Stephen D. King--one of the few to warn ahead of time about the latest inflationary upheaval--identifies key lessons from the history of inflation that policy makers chose not to heed. From ancient Rome through the American Civil War and up to the asset bubbles of today, inflation stems from policy error, sovereign greed, and a collective loss of faith in currencies. We Need to Talk About Inflation cuts through centuries of bad judgment and misunderstanding, offering a means to intervene now--so we can begin to tackle the political and social upheaval unleashed by inflation

CHAPTER EIGHT FROM ECONOMIC DISAPPOINTMENT TO POLITICAL INSTABILITYTHE MONETARY UPHEAVALS OF THE 1870S; THE ASIAN CRISIS; HOW POLITICAL RESPONSE TRUMPED ECONOMIC THEORY: THREE ASIAN STORIES; ADJUSTING TO A NEW REALITY; CHAPTER NINE DYSTOPIA; BACK TO THE FUTURE: THE LESSONS FROM MEDIEVAL WARFARE; GLOBALIZATION IN REVERSE; MISTRUST OF GOVERNMENT; MISTRUST OF MONEY; THE 'STATELY HOME' EFFECT; EUROZONE CRISIS AND THE PARADOX OF GLOBALIZATION; THE RETURN OF POLITICAL EXTREMISM; CHAPTER TEN AVOIDING DYSTOPIA; DEALING WITH SPACE: RESOLVING THE INTERNATIONAL/DOMESTIC CONFLICT

A NEW 'CONCERT OF EUROPE'?TEETH; 4 PRIDE AND THE FALL; ON THE MARCH; THE CRACKS APPEAR; FROM THE NEW CONVENTIONAL WISDOM TO THE GLOBAL FINANCIAL CRISIS; FASHION; UNDERMINING THE NEW WISDOM; THE GLOBAL FINANCE REVOLUTION; THE RETURN OF NATIONAL SELF-INTEREST; Part Two STATES, ELITES, COMMUNITIES; 5 GLOBALIZATION AND NATION STATES; THE NINETEENTH-CENTURY FRAMEWORK: IMPERIAL POWER; NINETEENTH-AND EARLY TWENTIETH-CENTURY DARWINIAN MARKETS; THE BACKLASH AGAINST GLOBALIZATION; NOT FOR THE LAST TIME, THE BANKS; GLOBALIZATION ABHORS A VACUUM; THE TWENTIETH-CENTURY MODEL: DEFINING THE NATION STATE

"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."--Provided by publisher.

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

As the economic giants of Asia and elsewhere have awakened, Western leaders have increasingly struggled to maintain economic stability. The international financial crisis that began in 2007 is but one result of the emerging nations' increased gravitational pull. In this vividly written and compellingly argued book, Stephen D. King, the global chief economist at HSBC, one of the largest banking groups in the world, suggests that the decades ahead will see a major redistribution of wealth and power across the globe that will force consumers in the United States and Europe to stop living beyond their means.The tide of money washing in from emerging nations has already fuelled the recent property bubble in the West, while new patterns of trade have left the West increasingly dependent on risky financial services. Unless things change drastically, King argues, the increasing power of emerging markets, when coupled with poor internal regulation and an increasingly anachronistic system of global governance, will result in greater instability and income inequality, accompanied by the risk of a major dollar decline. And as Western populations age and emerging economies develop further, the social and political consequences may be alarming to citizens who have grown accustomed to living in prosperity