This book is about the mismanagement of Western economies in pursuit of political power, which resulting devastation will have to be borne by future generations. The book establishes that postponement is no longer doable and lays out the hard choices ahead causing much misery and agony.

Although not fully recognized because of masking by asset bubbles, which are spun/sold as investor confidence in the economy, the reaction to the phenomenon of lost hope in the future has already started. By chasing economic growth and political power, developed countries worldwide have destroyed their economies. Recovery would bring many hardships and pain to their populations. Americans, primarily white and middle-aged, are dying in record numbers from what Drs. Case & Deaton describes as "Deaths of Despair." Their government's reaction is to turn to protectionism. In the USA, this has taken the form of strengthening the Buy America Act of 1933, applying trade tariffs, and increasing subsidies to companies building facilities in the Country. These are all superficial fixes and will do nothing to correct the problem.

Market-driven solutions have given way to protectionist ones as policymakers continue to kick problems down the road for others to deal with. All issues the developed countries face, whether they are excessive and unsustainable debt, over-priced labor from targeting inflation, and mal-distribution of income and wealth distorting the resultant demand/savings relationships, have their roots in fiat currencies. So much public debt has been accumulated that it cannot and will not be repaid.

The genesis of the problem was in 1971 when President Nixon abolished the gold standard established at Bretton Woods in 1944. Currencies were then given value by government decree and no longer had intrinsic value. This allowed for large budget deficits, unsustainable public debt, and the money "printing-press operation." The public debt of the USA has already exceeded $32 trillion, an astronomical number. It allowed countries to incorporate inflation in their economic planning, thus raising their costs of living. It also allowed for increases in the money supply with the consequence of widening income and wealth inequality. Corrective action would involve backing currencies with the Country's assets, eliminating/reducing debt unless for investment, prohibiting the targeting/planning of inflation, and establishing a relationship between the highest and lowest paid in an economy. The book proposes novel approaches to these issues, including income support for those impacted by these corrective measures, for developed countries have arrived at the end of the road.

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We first started out as “The Paperback Exchange,” a chain of physical bookstores where we would part exchange your beloved books for new stories to transport you to faraway places. However, as shopping started to evolve to online shops and marketplaces, we bid our stores goodbye to become “PBShop.” This transition has only allowed us to blossom as we now ship thousands of titles to book lovers across the globe. We pride ourselves in being a community of local book lovers which allows our passion and devotion to shine in everything we do. In 2020 we not only celebrated our 20th birthday but our 1st birthday as being completely employee owned after becoming an E.O.T in September 2019. We are proud to be different and embrace standing apart on a book mountain by working from a virtual inventory which allows us to provide thousands of books that may be difficult to get for your bookshelf or your studies. Working with a number of different suppliers allows us to explore other avenues such as puzzles, sheet music and even stationery so we really do have something for everyone. Life is about being versatile in all realms of existence. If this is your first visit or you are a returning customer, we would like to welcome you to the PBShop family, for there is no friend as loyal as a book. We are a company who put our customers at the centre of everything we do as we understand the importance of reading because once you learn to read, you will forever be free. There are a whole lot of things in this world of ours that we are yet to explore, which is why we will forever inspire curious minds.…

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End Of The Road

Item description from seller

Bibliographic details

Synopsis