The Age of Stagnation

The Age of Stagnation

Why Perpetual Growth Is Unattainable and the Global Economy Is in Peril

Book - 2016
Average Rating:
Rate this:
"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 current economic predicament from an internationally respected consultant and commentator on financial markets, who predicted the Global Financial Crisis of 2008. The author challenges the assumption that growth can be perpetual and questions the ability of political leaders to enact the tough structural changes needed. He is particularly critical of the "easy money" approach to dealing with the great recession of 2008, citing the dangers of excessive debt and deep-seated fundamental imbalances. The fallout of these poor policies, he argues, will affect not only the business sector, but also the lifestyles and prosperity of average citizens and future generations. The author concludes with a thought experiment illustrating the large-scale changes that will be necessary to restore economic, financial, and social sustainability. This experiment has already been tried in Iceland, which went bankrupt in the wake of the 2008 crisis, and now, after a painful adjustment, is on the road to recovery. Written for the lay reader and peppered with witty anecdotes, this immensely readable book clearly explains the missteps that created the current dilemma, why a recovery has proved elusive, and the difficult remedies that must eventually be applied to ensure a stable future"--
Publisher: Amherst, New York :, Prometheus Books,, 2016.
ISBN: 9781633881587
Branch Call Number: 330.9 DA
Characteristics: x, 337 pages ; 24 cm


From the critics

Community Activity


Add a Comment
Jan 01, 2018

Disappointingly, this feels like a never ending list of pessimistic complaints rather than the insightful analysis I had hope for. Some items even feel contradictory ( “rates are going up - that’s bad. Rates are going down - that’s bad”). Whereas all the negative items discussed are real, there is no attempt to balance them with some of the positives that do exist, and this lack of contrast actually weakens the impact of the negative.
The need to develop an alternative to economic growth is an important topic and one that drew me to the book in the first place, but in spite of the promise in the sub title is never addressed.

Feb 11, 2016

This wasn't a bad book, I would recommend it, but not with any burning urgency. I hate to suggest any book by Satyajit Das was scattered, but it is somewhat all over the place; not really on track or well focused? Nothing of any particular brilliance - - three books I would heartily recommend for absolute comprehension are: The Devil's Chessboard, by David Talbot ||| Dark Money, by Jane Mayer ||| Killing the Host, by Michael Hudson - - with these three you should understand just about everything! [I did learn about the Guardian article with Nichole Gracely: It's better to be homeless than work for Amazon - - hadn't yet read that!]


Add Age Suitability

There are no ages for this title yet.


Add a Summary

There are no summaries for this title yet.


Add Notices

There are no notices for this title yet.


Add a Quote

There are no quotes for this title yet.

Explore Further

Browse by Call Number


Subject Headings


Find it at APL

To Top