1 edition of The age of stagnation found in the catalog.
The age of stagnation
Written in English
|LC Classifications||HD82 .D31477 2016|
|The Physical Object|
|Pagination||x, 337 pages|
|Number of Pages||337|
|LC Control Number||2015037561|
But conditions in the real economy have not returned to normal. Addicted to government and central bank support, the world economy may not be able to survive without low rates and excessive liquidity. One commentator observed that the government could save money on education, as it was unnecessary to prepare people for jobs that did not exist. His tone is as urgent as the problem. The problem also may be partly because of deficiencies in the measurement of income and well-being. His writing is always vivid and clear, but he delivers a hard message that deserves a wide audience.
TheAge of Stagnation provides a penetrating analysis of how a combination of the aftereffects of the Great Recession and deep-seated structural factors now cast a long shadow over the future. The rich world has been stuck doing the latter for most of the last century, and lately they haven't been doing it as well. This eBook is no longer available for sale. The author challenges the assumption that growth can be perpetual and questions the ability of political leaders to enact the tough structural changes needed.
Geo-political risks have risen. If we think on many of the big innovations of recent decades, in health care or finance say, we find that they either have primarily private benefits or produce benefits of questionable value. That's what China and India are currently doing, and we shouldn't mistake their rapid growth for something it's not. If we are to have a prolonged period of subdued prosperity, then that affords us an opportunity to devise a structure that is both kind to the planet and equitable to its inhabitants.
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Rich countries spent the s and s figuring out how to exploit those innovations to their fullest, and as recently as the The age of stagnation book and s, these experiments were producing products that utterly changed the way people lived.
With public finances weakened and interest rates at historic lows, there is now little room for manoeuvre. Nearly half of all young people now go to college.
Youth unemployment is over 50 percent. I see computing and the internet as revolutionary innovations, every bit as transformative as the steam engine or electrification. Government, like most institutions public and private, could grow as innovations allowed.
The priority is to maintain the appearance of normality, to engender confidence. More than two decades of trying similar measures in Japan highlight their ineffectiveness in avoiding stagnation. Easy money has artificially boosted prices of financial assets beyond their real value. Furthermore, there are particularly large gains to be had in the area "cognition-augmenting innovations as opposed to labor-augmenting innovations ".
And that's where we find ourselves: a little poorer than we thought, and stuck trying to live within more humble means than we imagined until the next wave of major innovations arrives.
During this time, adults strive to create or nurture things that will outlast them; often by parenting children or contributing to positive changes that benefit other people. Nearly every business sector relies less and less on manual labor, and this fact is forever changing the world of work and wages.
There are toxic side effects. Products have improved, but the development of revolutionary new technologies has slowed substantially.
If we are to have a prolonged period of subdued prosperity, then that affords us an opportunity to devise a structure that is both kind to the planet and equitable to its inhabitants. But compared with what my grandmother witnessed, the basic accoutrements of life have remained broadly the same.
A related challenge is shifting from managing semi-skilled to knowledge workers. Written with passion and insight, and laden with facts, the book provides a clear explanation of the economic, social, and political issues that lie ahead, and the difficulty in solving them. Responsibility versus ambivalence: This adulthood crisis centers on whether people choose to take responsibility for their lives and choices.
It would also increase inflation to help reduce the level of debt, by decreasing its value. Ordinary people refuse to acknowledge that maybe you cannot have it all. Over time, the policies have distorted the economy.
He further suggests for the social status of scientists to be raised to at least as strong a motivating factor as money can. Accepted perquisites of life in developed countries, such as education, houses, health services, aged care, savings and retirement, are increasingly unattainable.
That doesn't mean it isn't worth doing, he says. But I think the economic benefits that result from cognition-augmenting innovations as opposed to labour-augmenting innovations will be dramatic.
Tyler Cowen describing his thesis in the New York Times  The main thesis is that economic growth has slowed in the United States and in other advanced economies, as a result of falling rates of innovation.Start your review of Librarians with Spines: Information Agitators in an Age of Stagnation, Vol.
1 Write a review Oct 24, Jamie rated it it was ok/5. Get this from a library! The age of stagnation: why perpetual growth is unattainable and the global economy is in peril.
[Satyajit Das] -- "The global economy is entering an era of protracted stagnation, similar to what Japan has experienced for over a decade. That is the message of this brilliant and controversial summary of our. The Age of Aging explores a unique phenomenon for mankind and, therefore, one that takes us into uncharted territory.
Low birth rates and rising life expectancy are leading to rapid aging and a stagnation or fall in the number of people of working age in Western societies. Sep 15, · “The Age of Stagnation is an elegant and informative discussion of the economic and social factors that have led us to the ‘new normal’—a state of low growth, soaring debt, and rising political tensions.
Even if you disagree with the author’s dystopian vision of the future of the global economy, this important book challenges the Cited by: 1.
The Age of Stagnation provides a penetrating analysis of how a combination of the aftereffects of the Great Recession and deep-seated structural factors now cast a long shadow over the future.
Highly accessible and written with wit and style, this provocative and 5/5(1). “The Age of Stagnation is an elegant and informative discussion of the economic and social factors that have led us to the ‘new normal’—a state of low growth, soaring debt, and rising political tensions.
Even if you disagree with the author’s dystopian vision of the future of the global economy, this important book challenges the Reviews: