
No, this isn’t the REAL Stephen King. It’s the economist Stephen D. King. But his message is as horrifying as any Stephen King novel. King sees weaknesses in our economic system. Serious weaknesses.
Today, nation-states are still shell-shocked, seemingly unable to come to terms with persistent economic and financial disappointed. Policy-makers continue to promise a return to prosperity sooner rather than later. All the while, however, levels of economic activity remain surprisingly muted. Interest rate cuts, fiscal stimulus, quantitative easing and exhortation have all be used to kick-start economic activity, all seemingly to no avail. There is no quick fix. And polices designed to generate recovery may only be prolonging painful stagnation. (p. 68)
King suggests we stop wasting money on fruitless foreign wars, that we improve our public education system, and we rebuild our crumbling infrastructure. I agree. GRADE: A
Table of Contents:
Acknowledgements……………….. vii
Introduction Whatever Happened to the Decades of Plenty?………. 1
Chapter 1 Taking Progress for Granted……………….. 9
Chapter 2 The Pain of Stagnation……………….. 37
Chapter 3 Fixing a Broken Economy……………….. 55
Chapter 4 Stimulus Junkies……………….. 69
Chapter 5 The Limits to Stimulus: Lessons from History……….. 97
Chapter 6 Loss of Trust, Loss of Growth……………….. 121
Chapter 7 Three Schisms……………….. 151
Chapter 8 From Economic Disappointment to Political Instability………… 179
Chapter 9 Dystopia……………….. 207
Chapter 10 Avoiding Dystopia……………….. 231
Notes……………….. 263
Bibliography……………….. 273
Index……………….. 279