The Great Demographic Reversal
Ageing Societies, Waning Inequality, and an Inflation Revival
Charles Goodhart author Manoj Pradhan author
Format:Hardback
Publisher:Springer Nature Switzerland AG
Published:9th Aug '20
Should be back in stock very soon
This insightful exploration in The Great Demographic Reversal discusses how demographic changes and globalization will reshape economic trends, impacting inflation and inequality.
In The Great Demographic Reversal, the authors explore the significant shifts in global trends driven by demography and globalization. They argue that these forces are set to reverse three long-standing trends, which will subsequently raise inflation and interest rates while also addressing issues of inequality. The book emphasizes that the future economic landscape will be markedly different from the past, challenging the prevailing deflationary environment that has characterized recent decades. This transformation is largely attributed to the demographic changes and the influx of labor from regions such as China and Eastern Europe into the global market.
As the authors delve deeper into the implications of these demographic shifts, they highlight the challenges posed by an aging population. They anticipate that the aging process will not only contribute to rising inflation and interest rates but will also lead to an increase in the labor share of income, potentially reducing inequality. The narrative is rich with insights into various social, political, and macroeconomic factors that play a crucial role in shaping the future economy. Topics such as dementia, retirement, populism, and debt finance are examined, providing a comprehensive overview of the interconnected issues at hand.
The Great Demographic Reversal serves as a thought-provoking resource for anyone interested in understanding the trajectory of the global economy. It offers a clear and engaging analysis of how demographic and economic forces are poised to reshape our world, making it accessible to a broad audience eager to grasp the complexities of these trends.
“Charles Goodhart and Manon Pradhan have provided us an impressively articulated, well-reasoned, and thoroughly researched tour de force of the demographic forces that have impacted the evolution of the world economy and their interrelationships over the past 100 years or so … . the research and thoughtful analysis provide the reader with an insightful window into the policy problems facing developing and emerging economies alike as we face the future.” (Robert Eisenbeis, Business Economics, Vol. 56, 2021)
“I appreciate the global scope of this book and its emphasis on the complexity and interconnectedness of the global economy. This is the kind of long-term thinking that economists, policymakers, and othersmay find beneficial.” (insurancenewsnet.com, June 25, 2021)
“I think this is a very good forecast. … The book interestingly comments on an implied cycle in the standing of macroeconomics and macroeconomists. … their argument is well worth pondering and entering into our considerations of the biggest economic risks ahead.” (Alex J. Pollock, Law & Liberty, lawliberty.org, May 18, 2021)
“The Great Demographic Reversal is packed with informative charts and tables. It presents a powerful, well-argued challenge to the ‘mainstream’ view that low growth, inflation and nominal interest rates are here to stay. Above all, its message that everyday economics needs to take demography seriously is surely correct.” (Diane Coyle, Financial Times, December 2, 2020)
“This thought-provoking book is a great read, and there is no need to be an economist to enjoy it.” (Philip Turner, Central Banking, centralbanking.com, November 16, 2020)
“It is a pleasure to read a book this well argued. There is a good deal of careful analysis and there are lots of tables and graphs.” (Charles Taylor, Financial World, November 2020-January 2021)
ISBN: 9783030426569
Dimensions: unknown
Weight: unknown
260 pages
2020 ed.