Satyajit Das's A Banquet of Consequences PDF

By Satyajit Das

ISBN-10: 1760141712

ISBN-13: 9781760141714

A ceremonial dinner of Consequences is a full of life exploration through monetary professional Satyajit Das on why, following the worldwide credits crunch, the area is coming into a interval of lengthy financial stagnation, and what that suggests for all of us.

The components that brought on the worldwide monetary obstacle of 2008 haven't been addressed, notes Satyajit Das during this brilliantly clear-eyed account of the country of the area economic climate. worldwide debt this present day is greater than it was once prior to the concern. the large banks, bailed out through taxpayers on the top of the GFC, at the moment are higher than ever, by way of an staggering forty in keeping with cent. the matter of unfunded and unsustainable welfare entitlements is still unresolved. In so much built nations, financial progress, employment, source of revenue and funding are nonetheless suffering to come back to pre-crisis degrees. in the meantime the constructing international locations haven't turn into the recent drivers of world prosperity they have been anticipated to be.

The crux of the problem, argues Das, is that financial progress can't proceed indefinitely. the explanations for this comprise demographic adjustments, reduce charges of innovation, slower advancements in productiveness, the expanding shortage of common assets, the impression of world warming, the reversal of globalisation, and the emerging inequality inside and among international locations. The concepts deployed via governments to advertise progress have failed. What's particularly wanted is unpopular structural switch, with the intention to bring about a discount in wealth and dwelling criteria. global leaders comprehend what to do, they simply don 't know the way to get re-elected when they 've performed it. humans don 't are looking to pay attention that their time of lots has reached the tip.

Starting with the lengthy interval of enlargement that the tip of global battle II, A dinner party of Consequences traces the cycle of booms and busts that culminated within the GFC, operating via to the current day and outlining a destiny with out progress. It seems on the ill-advised guidelines carried out by means of governments that experience left jobs, funding and dwelling criteria stagnant whereas riding costs of stocks, estate and monetary funding ever larger, growing the stipulations for a monetary crash on a scale even greater than the final situation.

The finish of progress has great results for us all, between them the expanding trouble of discovering a safe activity with an enough salary, purchasing a home and saving for retirement, a lack of belief in banks and political techniques, and, might be most significantly, the impression on destiny generations, who should be pressured to undergo the price of the issues.

Satyajit Das is widely known as a commentator and writer, having expected the 2008 trouble and masses of what has occurred thus. He has penned either reference works and overseas bestsellers, Traders, weapons & Money and Extreme Money. Written for the lay reader, A dinner party of Consequences is peppered with witty anecdotes and cultural references either conventional and well known. Satyajit Das could be the one finance author who can concurrently make you outraged and chortle as you learn, and the event is a delight. 

'Fascinating studying . . . explaining not just the high-minded idea at the back of the company and its a variety of items however the occasionally sordid fact of the industry.' Financial Times, London, on Traders, weapons & Money

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A Banquet of Consequences by Satyajit Das

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