The Age of Stagnation
The global economy is entering an era of protracted stagnation, similar to what Japan has experienced for over a decade. Written for the lay reader and peppered with witty anecdotes, The Age of Stagnation is an immensely readable book that 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. It concludes with a thought experiment illustrating the large-scale changes that will be necessary to restore economic, financial, and social sustainability.
Praise for The Age of Stagnation
“Loved it! 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. Essential reading for the investor who wants to be informed and ahead of the curve.”
— Jon Markman, President and Publisher of Markman Capital Insight
“Growth or, rather, the lack of it is a key issue of our times. 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 important book deserves to be widely read.”
— Nouriel Roubini, Professor, New York University’s Stern School of Business
“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 false narrative in the media and in political circles regarding the causes of the Global Financial Crisis of 2008.”
— Christopher Whalen, Head of Research, Kroll Bond Rating Agency
“Satyajit Das was among the first to foresee the 2008 market crash, and he has been one of the sharpest analysts of the current confusions of the European project. Now, in The Age of Stagnation, he focuses on the diminishing prospects of the global economy. His writing is always vivid and clear, but he delivers a hard message that deserves a wide audience.”
— Charles R. Morris, Author, The Trillion Dollar Meltdown