LEADER 04251nam 22007455 450 001 9910416132903321 005 20250609110114.0 010 $a9783030426576 010 $a3030426572 024 7 $a10.1007/9783030426576 035 $a(CKB)4100000011384365 035 $a(MiAaPQ)EBC6302529 035 $a(DE-He213)978-3-030-42657-6 035 $a(Perlego)3480912 035 $a(MiAaPQ)EBC6286903 035 $a(EXLCZ)994100000011384365 100 $a20200808d2020 u| 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 14$aThe Great Demographic Reversal $eAgeing Societies, Waning Inequality, and an Inflation Revival /$fby Charles Goodhart, Manoj Pradhan 205 $a1st ed. 2020. 210 1$aCham :$cSpringer International Publishing :$cImprint: Palgrave Macmillan,$d2020. 215 $a1 online resource (xx, 260 pages) 311 08$a9783030426569 311 08$a3030426564 327 $a1. Introduction -- 2. China: A Historic Mobilization Ends -- 3. The Great Demographic Reversal and its Effect on Future Growth -- 4. Dependency, Dementia and the Coming Crisis of Caring -- 5. The Likely Resurgence of Inflation -- 6. The Determination of (Real) Interest Rates during the Great Reversal -- 7. Inequality and the Rise of Populism -- 8. The Phillips Curve -- 9. "Why Didn't It Happen in Japan?": A Revisionist History of Japan's Evolution -- 10. What Could Offset Global Ageing? India/Africa, Participation and Automation -- 11. The Debt Trap: Can We Avoid It? -- 12. A Switch from Debt to Equity Finance? -- 13. Future Policy Problems: Old Age and Taxes, and the Monetary-Fiscal Clash -- 14. Swimming Against the (Main)Stream. 330 $aThis original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends - it will raise inflation and interest rates, but lead to a pullback in inequality. "Whatever the future holds", the authors argue, "it will be nothing like the past". Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world's available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the world's trading system. This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a retreat from globalisation. The result? Ageing can be expected to raise inflation and interest rates, bringing a slew of problems for an over-indebted world economy, but is also anticipated to increase the share of labour, so that inequality falls. Covering many social and political factors, as well as those that are more purely macroeconomic, the authors address topics including ageing, dementia, inequality, populism, retirement and debt finance, among others. This book will be of interest and understandable to anyone with an interest on where the world's economy is going. . 606 $aEconomics 606 $aMacroeconomics 606 $aLabor economics 606 $aInternational finance 606 $aEconomic policy 606 $aSocial policy 606 $aEconomics 606 $aMacroeconomics and Monetary Economics 606 $aLabor Economics 606 $aInternational Finance 606 $aEconomic Policy 606 $aSocial Policy 615 0$aEconomics. 615 0$aMacroeconomics. 615 0$aLabor economics. 615 0$aInternational finance. 615 0$aEconomic policy. 615 0$aSocial policy. 615 14$aEconomics. 615 24$aMacroeconomics and Monetary Economics. 615 24$aLabor Economics. 615 24$aInternational Finance. 615 24$aEconomic Policy. 615 24$aSocial Policy. 676 $a337 676 $a304.6 700 $aGoodhart$b Charles$4aut$4http://id.loc.gov/vocabulary/relators/aut$0116084 702 $aPradhan$b Manoj$4aut$4http://id.loc.gov/vocabulary/relators/aut 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910416132903321 996 $aThe great demographic reversal$91907140 997 $aUNINA