Synopses & Reviews
The Western world has experienced extraordinary economic progress throughout the last six decades, a prosperous period so extended that continuous economic growth has come to seem normal. But such an era of continuously rising living standards is a historical anomaly, economist Stephen D. King warns, and the current stagnation of Western economies threatens to reach crisis proportions in the not-so-distant future. Praised for the “dose of realism” he provided in his book Losing Control, King follows up in this volume with a plain-spoken assessment of where the West stands today. It’s not just the end of an age of affluence, he shows. We have made promises to ourselves that are achievable only through ongoing economic expansion. The future benefits we expect—pensions, healthcare, and social security, for example—may be larger than tomorrow’s resources. And if we reach that point, which promises will be broken and who will lose out? The lessons of history offer compelling evidence that political and social upheaval are often born of economic stagnation. King addresses these lessons with a multifaceted plan that involves painful—but necessary—steps toward a stable and just economic future.
Review
"Well-written, thoughtful and highly convincing. . . . [King's] clear-eyed assessment of the problems ahead makes the book essential reading."—The Economist
Review
“Stephen King, chief economist at HSBC, has just published an interesting and well-written book
When the Money Runs Out.”—Paul Ormerod,
City AMReview
"For many, the financial crisis is a temporary interruption in the rise of western prosperity that is due to easily remedied policy mistakes. The Keynesians believe this, as do anti-Keynesians on the free-market right. King argues, instead, that the future is not what it used to be. We have made promises to ourselves we cannot afford to keep. The argument is important, even if, like me, you are not persuaded." —Martin Wolf, Financial Times.
Review
"A 'powerful' and 'convincing' book. Overall, as Charles Moore notes in The Daily Telegraph, 'its alarmingly difficult to disagree' with this book."—Matthew Partridge, Money Week.
Review
"The book is jammed full of history [...] and is highly readable - being rich in the economic history that he argues was lacking in pre-crisis economic analysis. It is accompanied by some wonderful anecdotes and provides a good mix of economics and politics in addition to its historical detail."—George Buckley, Financial World
Review
“In this book, HSBCs chief economist describes a real-life economic horror story, picking over the bones of the global financial crisis with the professional detachment of a forensic scientist examining the scene of a crime. The conclusions are clear and compelling. By the end, we know whodunit, how it was done and why, without resort to economic jargon - there are few acronyms, no equations and no charts. Instead we are offered policy prescriptions that ring true - uncomfortably so . . . The book should appeal to a wider audience than economists. The author is a newspaper columnist as well as a professional economist, and it shows in the crisp and easy style of his prose. I recommend it heartily.”—Erik Britton, Management Today
Review
“The author has tightly reasoned arguments. . . and suggestions for the steps that should be taken to ensure economic stability for future generations.”—Library Journal
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“[King] is dabbling in the financial equivalent of the horror genre. Perhaps even scarier, his is the stuff of nonfiction.”—Michael J. Casey, The Wall Street Journal
Review
“A welcome reminder of the role [literature] has played in our lives, and of its indubitable destiny to continue to do so.” —Jon Morris, PopMatters
Review
“When the Money Runs Out sets out well the problems facing advanced economies.” —David Smith, The Sunday Times
Review
“A thoughtful and convincing assessment of what happens when the rich world becomes over-accustomed to rising standards of living but cannot afford the benefits its governments have promised, by the chief-economist at HSBC. Serious scaremongering; worthy of Stephen Kings horror-writing namesake.”—The Economist, (named a 2013 Book of the Year)
Review
and#8220;David Mulford takes us on a fascinating and personal journey through momentous world events and shifts in global finance. Read, learn, and enjoy.and#8221;and#8212;George P. Shultz, former U.S. secretary of state
Review
and#8220;A distinguished ambassador to India, an undersecretary of the U.S. Treasury, and an eminent banker in private, Mulford has put forward the trajectory of a fascinating life, much of it given to public service.and#8221;and#8212;Henry Kissinger, former national security advisor and secretary of state
and#160;
Review
and#8220;David Mulford has few equals in the field of international finance. This book is an American story of adventure, persistence, and accomplishment.and#8221;and#8212;Nicholas F. Brady, former U.S. secretary of the treasury
Synopsis
An esteemed economist warns that Western societies economic expectations for the future are about to collide with reality
Synopsis
An eminent economist warns that Western nations economic expectations for the future are way out of sync with the realities of economic stagnation, and stringent steps will be required to avoid massive political and economic upheaval.
Synopsis
David Mulford has witnessed and participated in dramatic changes in the world economic systemand#8212;from newly independent countries in Africa and the emerging Eurobond market to the boardrooms of New York, from the Saudi Arabian Monetary Agency to the White House and Treasury Department, and from the halls of Oxford to the developing expanse of India. In
Packing for India, Mulford explores the underpinnings, vulnerabilities, and great promise of a global economy that through the spread of capital, products, people, and technology has transformed economic realities and aspirations around the world.
Packing for India is also a deeply personal memoir of experience and transformation, a firsthand account of key events, and a reflection on world leaders and on the United Statesand#8217; role in international finance. At each stage of his career, Mulford faced radically different challenges, which prepared him to serve successfully as U.S. ambassador to India. How, he is asked by many people, did a person from humble beginnings do so many fascinating things? Mulford answers this question by examining where he has been and what he has learned, and he leaves the reader with his vision for a path toward sustained global growth and stability.
About the Author
DAVID MULFORD is vice chairman international of Credit Suisse and the former U.S. ambassador to India. He also served as undersecretary of the U.S. Treasury for International Affairs and as senior investment advisor to the Saudi Arabian Monetary Agency. Ambassador Mulford holds a Doctor of Philosophy degree from Oxford, was in the first class of the White House Fellows program, and has been decorated by many countries for his outstanding international service.