When the Money Runs Out

The End of Western Affluence

Stephen D. King

View Inside Price: $20.00


May 29, 2018
304 pages, 5 x 7 3/4
ISBN: 9780300236934
Paper

An eminent economist warns that Western nations’ economic expectations for the future are way out of sync with the realities of economic stagnation and stringent steps will be required to avoid massive political and economic upheaval.
 
“It is alarmingly difficult to disagree with Stephen King. All one can say, perhaps, is that one of the great errors of human nature—strongly displayed before the credit crunch—is the belief that a prevailing trend will continue indefinitely. The crunch is surely a reminder that what goes up must come down.”—Charles Moore, Daily Telegraph
 
“[King] is dabbling in the financial equivalent of the horror genre. Perhaps even scarier, his is the stuff of nonfiction.”—Michael J. Casey, Wall Street Journal

Stephen D. King is Senior Economic Adviser at HSBC. He has also been a specialist adviser to the House of Commons Treasury Committee.

“Well-written, thoughtful and highly convincing. . . . [King’s] clear-eyed assessment of the problems ahead makes the book essential reading.”—Economist

"For many, the financial crisis is a temporary interruption in the rise of western prosperity that is due to easily remedied policy mistakes. The Keynesians believe this, as do anti-Keynesians on the free-market right. King argues, instead, that the future is not what it used to be. We have made promises to ourselves we cannot afford to keep. The argument is important, even if, like me, you are not persuaded." —Martin Wolf, Financial Times.
 

"Hard-hitting, history-rich book"—David Wilson, South China Morning Post

"A 'powerful' and 'convincing' book. Overall, as Charles Moore notes in The Daily Telegraph, 'it’s alarmingly difficult to disagree' with this book."—Matthew Partridge, Money Week.

"The book is jammed full of history [...] and is highly readable - being rich in the economic history that he argues was lacking in pre-crisis economic analysis. It is accompanied by some wonderful anecdotes and provides a good mix of economics and politics in addition to its historical detail."—George Buckley, Financial World

“Stephen King, chief economist at HSBC, has just published an interesting and well-written book When the Money Runs Out.”—Paul Ormerod, City AM

“In this book, HSBC’s chief economist describes a real-life economic horror story, picking over the bones of the global financial crisis with the professional detachment of a forensic scientist examining the scene of a crime. The conclusions are clear and compelling. By the end, we know whodunit, how it was done and why, without resort to economic jargon – there are few acronyms, no equations and no charts. Instead we are offered policy prescriptions that ring true – uncomfortably so . . . The book should appeal to a wider audience than economists. The author is a newspaper columnist as well as a professional economist, and it shows in the crisp and easy style of his prose. I recommend it heartily.”—Erik Britton, Management Today

“The author has tightly reasoned arguments. . . and suggestions for the steps that should be taken to ensure economic stability for future generations.”Library Journal

“[King] is dabbling in the financial equivalent of the horror genre. Perhaps even scarier, his is the stuff of nonfiction.”—Michael J. Casey, The Wall Street Journal

When the Money Runs Out sets out well the problems facing advanced economies.” —David Smith, The Sunday Times

“A thoughtful and convincing assessment of what happens when the rich world becomes over-accustomed to rising standards of living but cannot afford the benefits its governments have promised, by the chief-economist at HSBC. Serious scaremongering; worthy of Stephen King’s horror-writing namesake.”—The Economist, (named a 2013 Book of the Year)

Losing Control
The Emerging Threats to Western Prosperity

Stephen D. King

View details
When the Money Runs Out
The End of Western Affluence

Stephen D. King

View details
Grave New World
The End of Globalization, the Return of History

Stephen D. King

View details
Grave New World
The End of Globalization, the Return of History

Stephen D. King

View details