A Violent World: Modern Threats to Economic Stability

Cover......Page 1
Half-Title......Page 2
Title......Page 4
Copyright......Page 5
Contents......Page 8
List of Figures......Page 10
List of Tables......Page 12
Foreword......Page 13
Introduction......Page 16
1 The Major Breakdown in Technical Progress......Page 21
 Innovation, a disruptive phenomenon......Page 22
 The major part played by technical progress in promoting growth......Page 27
 Slowdown: the great debate......Page 31
 Increasingly rare resources......Page 36
 The war of intelligence......Page 41
2 The Curse of Ageing......Page 45
 The weight of demographics in history......Page 47
 The three impacts of ageing......Page 51
 A blessing in disguise?......Page 55
 Towards intergenerational conflict......Page 59
3 The Irresistible Explosion of Inequalities......Page 65
 Inequalities and growth: a return to the old controversy......Page 66
 The end of the egalitarian myth......Page 73
 The patrimonial society against the middle classes......Page 81
 Inequality lies at the heart of a new conflict......Page 86
4 The Impact of Deindustrialization......Page 89
 1995–2005: deindustrialization, offshoring, outsourcing......Page 91
 The London temptation......Page 98
 The American hope......Page 102
 Terrible uncertainty over globalization......Page 108
5 The Illusion of Definancialization......Page 117
 The explosion of liquidity......Page 118
 The dismemberment of the financial system......Page 122
 The utopia of regulation......Page 127
 The impossible debt equation......Page 130
 Finance versus the real economy......Page 134
6 Savings, the Ultimate Rare Resource......Page 140
 The enigma of the balance between savings and investment......Page 141
 Three decades of an over-abundance of savings......Page 144
 The world is changing, savings are decreasing......Page 148
 The world is changing, investment is increasing......Page 151
 Towards a major imbalance......Page 153
7 Avoiding the Major Crisis of the Twenty-First Century......Page 158
 Refocusing the world on youth......Page 161
 Socializing rare resources......Page 164
 Taming pensions......Page 166
 A new Bretton Woods?......Page 170
 Risk-sharing......Page 171
Notes......Page 175
Index......Page 189