As the path to economic recovery remains uncertain, a new book from Yale University Press brings together the world’s top economic experts, looking closely at the major economies of the world and predicting how each will fare over the next several years.
In the run-up to the 2010 UK General Election, the major topic of debate was the economy. The three main political parties each offered their own positions on how to tackle the deficit, but the debate often came down to two central issues: how much public money do we need to cut, and how fast do we need to cut it? Today we are still asking ourselves those questions. The coalition government have set in motion a programme of austerity measures that has been met with fierce opposition from students, public sector workers and those on left of British politics. Yesterday the International Monetary Fund came out in support of chancellor George Osborne’s cuts, despite repeatedly downgrading the UK growth forecast for this year (down to 1.5% from 2.5% forecast in April 2010). With so many opposing views from academics, politicians and financial institutions it often seems as though no-one really knows what the future holds for the British economy. And with the continuing trend in EU and IMF bailouts, civilian opposition to austerity measures and the growing dominance of China and India in the international market, it looks as though the future for economies abroad is even less certain.
What’s Next? A View from the World’s Leading Economists aims to tackle this uncertainty. David and Lyric Hale, themselves economic advisers to world leaders, have assembled a prestigious group of more than twenty leading economists and experts, each rendering thorough, rigorously researched prognoses for the world’s major economies over the next five years. Factoring in such varied issues as the price of oil, the strength of the U.S. dollar, geopolitics, tax policies and new developments in investment decision-making, the contributors ground their predictions in the realities of current events, political conditions, and the health of financial institutions in each national economy. This comprehensive book presents up-to-date research on Russia, Australia, Europe, sub-Saharan and South Africa, the major Asian economies, North America and the largest economies of Latin America. Using their expertise, the authors explain what’s going on in individual countries, how important current global issues will impact them, and what economic scenarios they most likely will face in upcoming years.
For those looking to gain a better understanding of what lies ahead for global economics but are tired of wading through political rhetoric, this book provides an clear, intelligent and thought-provoking response to that exasperating question: What’s Next?
What’s Next? is out this month from Yale University Press.