Sunday, January 24, 2016

Managing in the Era of Epochal Economic Challenges

I ordered the new book by economist Mohamed El-Erian - The Only Game in Town: Central Banks Instability, and Avoiding the Next Collapse.  From a review in the weekend edition of the Financial Times today:

"El-Erian, chief economic adviser at Allianz and an FT contributing editor, believes it is a mistake to see the current state of global economy as a modestly disappointing equilibrium - "sluggish, but relatively stable", in the version he quotes from the Economist.  In reality, we have been incubating an ugly brood of existential challenges: high unemployment and rising inequality; the decay of the system of global economic governance bequeathed by Bretton Woods; the disintegration of trust in national institutions and the growth of political insurgency; and a financial system that is more prone to liquidity illusion and less well anchored to economic reality than ever."

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