Book description
Early in 2007 Leigh Skene warned of the danger of a meltdown in global
markets. Now, while governments spend furiously to rescue the global
economy, he again challenges received wisdom. In The Impoverishment of
Nations, he prescribes a different solution, outlining a plan to deal
with a very different economic future, following the financial crisis
that ended the longest period of prosperity for some five hundred years.
We have entered a period of uncertainty, which has placed a huge burden
on public finances. Governments have spent trillion on bailing out
financial institutions and other firms, including General Motors. We are
at a tipping point and the future will be unlike the past - one of the
most dangerous economic stages any generation can face. In his
penetrating analysis, Leigh Skene traces how we got here and what has to
happen for the global economy to recover the ground it has lost in less
than two years. He looks at the shift of economic power to emerging
nations, the inevitability of deflation, the unfitness for purpose of
the financial markets, how governments' share of output must shrink, how
solvency not liquidity caused the current crisis, and how it is wrong to
think you can borrow your way to growth. Early in 2007 Leigh Skene
warned of the danger of a meltdown in global markets. Now, while
governments spend furiously to rescue the global economy, he again
challenges received wisdom. In The Impoverishment of Nations, he
prescribes a different solution, outlining a plan to deal with a very
different economic future, following the financial crisis that ended the
longest period of prosperity for some five hundred years. We have
entered a period of uncertainty, which has placed a huge burden on
public finances. Governments have spent trillion on bailing out
financial institutions and other firms, including General Motors. We are
at a tipping point and the future will be unlike the past - one of the
most dangerous economic stages any generation can face. In his
penetrating analysis, Leigh Skene traces how we got here and what has to
happen for the global economy to recover the ground it has lost in less
than two years. He looks at the shift of economic power to emerging
nations, the inevitability of deflation, the unfitness for purpose of
the financial markets, how governments' share of output must shrink, how
solvency not liquidity caused the current crisis, and how it is wrong to
think you can borrow your way to growth.
