The Great Demographic Reversal - Charles Goodhart and Manoj Pradham

The Great Demographic Reversal - Charles Goodhart and Manoj Pradham




The Great Demographic Reversal by Charles Goodhart and Manoj Pradham
Ageing Societies, Waning Inequality, and an Inflation Revival

Hardback, 260 pages plus 80 pages of illustrations
Publisher: Springer Nature Switzerland AG
Published UK: 9th August 2020
Dimensions: 541 x 164 x 24 (mm) 590g
Economics and International Finance

This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends - it will raise inflation and interest rates, but lead to a pullback in inequality.
"Whatever the future holds", the authors argue, "it will be nothing like the past". Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world's available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the world's trading system.
This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a retreat from globalisation. The result? Ageing can be expected to raise inflation and interest rates, bringing a slew of problems for an over-indebted world economy, but is also anticipated to increase the share of labour, so that inequality falls.
Covering many social and political factors, as well as those that are more purely macroeconomic, the authors address topics including ageing, dementia, inequality, populism, retirement and debt finance, among others.
This book will be of interest and understandable to anyone with an interest on where the world's economy may be going.

"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

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