The Only Game in Town
The future is not predestined. It is up to us to decide where we will go from here as households, investors, companies, and governments. Using a mix of insights from economics, finance, and behavioral science, The Only Game in Town gives us the tools we need to properly understand this turning point, prepare for it, and come out of it stronger. A comprehensive, controversial look at the realities of our global economy and markets, this book is required reading for investors, policymakers, and anyone interested in the future.
Praise for The Only Game in Town
“How come the global economy is now run largely by unelected central banks? In this highly intelligent analysis, the author, a respected investor and CEO, explains how elected governments are failing in their basic job to take care of the economy and why this might lead to a massive unmanageable crisis.”
“Mohamed El-Erian has had an extraordinary career as an investment analyst, investor, and market commentator. His ‘new normal’ concept was prescient, provocative, and has proven out. Agree or disagree, his go-forward thoughts contained in this bracing book are well worth considering.”
— Lawrence H. Summers, former Secretary of the U.S. Treasury
“The Only Game in Town may well be the-only book you need to read on how the global financial system works, the serious trouble we may be in, and what to do about it. El-Erian’s gift for clarity and his use of compelling examples make important e-onomic issues accessible.”
— Anne-Marie Slaughter, President and CEO, New America
“Widely regarded as one of the most astute observers of global economic trends, Mohamed El-Erian is famous for having coined the now-ubiquitous phrase ‘the new normal.’ Five years ago, he was worried that the global economy might take years to regain its footing. Now El-Erian worries it could fall off a cliff. The Only Game in Town is simply a must-read for anyone trying to understand how the global economy might unfold in the next five years.”
— Kenneth Rogoff, Thomas D. Cabot Professor of Public Policy at Harvard University