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The Road to Recovery: How and Why Economic Policy Must Change
Renowned economist Andrew Smithers offers prescriptive adviceand economic theory on avoiding the next financial crisis
In The Road to Recovery, Andrew Smithers—one of a handfulof respected economists to have accurately predicted the mostrecent global financial crisis—argues that the neoclassicalconsensus governing global economic decision-making must be revisedin order to avoid the next financial collapse. He argues that thecurrent low interest rates and budget deficits have prevented therecession becoming a depression but that those policies cannot becontinuously repeated and a new consensus for action must be found.He offers practical guidance on reducing government, household, andbusiness debt; changing the economic incentives for the managementclass that currently inhibit long-term growth; and rebalancingnational economies both internally and externally. Further, heexplains how central bankers must broaden the economic theoriesthat guide their decisions to include the major factors of debt andasset prices.
Offers practical, real-world economic policies forrestructuring and rebalancing the global economic system
Presents a modern economic theory for preventing the nextcollapse
Ideal for economists, investors, fund managers, and centralbankers
Written by an economist described by the legendary Barton Biggsas "one of the five best, most dispassionate, erudite analysts inthe world"
As the global economy continues the long climb out of recession,it's imperative that central bankers and other economicdecision-makers not repeat the mistakes of the past. The Road toRecovery offers prescriptive guidance on redesigning aneconomic system that is healthy, stable, and beneficial to all.